oops, there goes the recovery. can't even keep the 3 pts gain now adays. i really hope that it stays at the 300 level until next earnings. need my iron condor to exp worthless this friday if it stays at 300.
every tiny bounce, there is profit taking. the worse is yet to come. not only is the drought going to kill cmg and other restaurants but there is also an employees drought as well. as the law has limited the amount of illegal employees, there is a shortage of cheap workers, forcing cmg to have to hire legal workers and paying more (cutting more into their dwindling profit). yup, the worse is yet to come.
i feel when the market finally starts it's downward spiral, stocks like CMG will make the biggest declines. there is no real future boom (growth for CMG stores), the fad is slowing and commodities are continuing to rise. PE multiple is way to high for lackluster performance.