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Chipotle is in a major downtrend and then will consolidate for the next 3-4 months atleast.
Mr. iHorn created a tsunami of selloff, which now has become a pure technical downward trend. CMG is in a early stage of selloff snowball effect. Once big institutions starts to unwind their positions, oh boy, nobody will be able to stop it.
Tomorrow two things will happen:
1) Margin calls = sell off
2) new shorts will pile in
Do you think iHorn will cover at $256? He will cover at $120 if not less.