is what i have and i am down 10 points. i was up yesterday and this morning but decided to hold because the valuation is ridiculous. so i say bring it on cmg, i am willing to and add more if it goes higher. at these levels i am shorting cmg higher than the other hedge funds that shorted cmg at much lower lower prices such as einhorn, gunlach, etc.
I'm in the same camp. The valuation is crazy. If there's the smallest hiccup, this thing will drop $100 in one day. Just look at historical drops on July 19 and Oct 17, 2012. Also, see how NFLX dropped quickly from $285 to $60 a couple years ago. Being long here is playing with fire as the valuation is unsustainable.
you and jpm are both idiots in the stock market. Been a trader for decades and one thing that I will teach you, if stocks continue to show strong numbers, it will continue to go up, no matter WHAT "valuation" you keep complaining about.
Market cap and what the company is really worth have zero correlation. People will keep putting money into a stock as long as they keep outperforming expectations. You will not see a "tank" until they report slow growth or bad numbers. til then, you will just bleed in your short posiions waiting (or hoping) to break even.
As for CMG, they just smashed expectations and really dont see any slowdown anytime soon. keep shorting if you want, you can be like those who shorted at 300-400 and covered for a mega loss.