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Brinker International, Inc. Message Board

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  • bluestarromeo bluestarromeo Jan 23, 2008 6:49 PM Flag

    So whats driving this stock today?

    I can almost guarantee it's short covering by the way it's behaving. I don't know why you'd want to own this tired P.o.S. going into a slow economy, esp. with so many great stocks "on sale" right now. I lived thru the last recession and no matter what they tell you, people don't go to cheaper restaraunts. They just stop going out all together. At the very least, do yourself a favor and watch this for a day or two before you do anything rash. I think EAT sees $14 before it sees $20. Personally, I am buying a huge put position before the end of the week on this old dog.

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    • I think youre right. Restaurant stocks went up across the board. But EAT short position was only about 5M, so with 4M traded, I would think most of the shorts would have covered. So I guess Ill wait and see. I guess shorts figured it would be a good time to cover and the jump into something else that is oversold or "on sale' as you put it....but it wouldnt surprise me if a new bunch of shorts jump in here, as 22% increase in one day on lack lustered earnings is a bit much....

      • 1 Reply to lloyddobbler2
      • I'm glad to hear you're waiting. I think you'll save yourself a lot of pain. As far as short share numbers please be aware that data comes out twice a month and can be severely inaccurate. I am going more off the "feel". I bet these restaurant guys were watching Dardin (DRI) get killed a few weeks back and figured the same could happen here, not taking into account change of market/analyst sentiment. I'm not sure if you're trading/investing long or short term, lloyddoble, but for the short term I'm seeing the fertilizers (MON, MOS, POT) bounce off a 5 month trendline with POT earnings tomorrow, and longer term, I noticed NRG has 40,000 calls in March! for a quality "on sale" energy stock that just made a major double bottom. Anyway, best of luck in your investments!

 
EAT
48.30+0.69(+1.45%)Jul 22 4:01 PMEDT