Here is my prediction. Last earnings call when we dropped $100. CMG execs lowered the bar for the rest of the year. Said they didn't expect sales growth to exceed 6% to 8%. That is management 101, keep expectations low, and results high. CMG sales would have to be flat to negative for the stock to go down after this earnings call and if you have visited a CMG lateley,you know sales aren't decreasing. Earnings either don't move the stock, or my prediction is that they say that the summer quarter was an "one off" and that the 10% +++ sales growth is back on and we go BAM back up to $400. Don't be short, either be on the sidelines or take a gamble on a long when this hits $285 or $290. Expectations are so low that this has to go up on earnings
The fact is that cmg, specially after Einhorn's comments, has already exited the 400+ class of stocks. This is due to more than one reason (the earnings). Suddenly everybody is finding out that Oops! we pumped this stock too high, let's correct it. And that "correction" will take it down regardless of the Q3 report situation. The "pretty mask" of cmg is already pulled of of its face.