The usual then and now;

We had not looked at it for a while but it did as predicted falling close to the target of $275. From there it has rebounded and could still go higher, perhaps even closing the gap. After that it is adiós , possible to about $125. What is unclear at this junction is whether or not this is the end of wave 1 or just wave 4 of one. The shape of the descent will differ but the target will not.

Somebody bought this at $442.50. There are times that I wish I  could be equally careless and unconcerned about just about everything, but certainly Mexican food. Is this the momentum play par excellence? or just another instance of herding? $275 is the first stop after that there is a lot of open air. We did not say sell at $350, but certainly wondered out aloud about where this was going, giving a not too subtle hint that it might be down, not immediately but soon. Now the party is over!

See previous blogs on this one. At one point it looked like a very good sell (at around $340), but then it proceeded to do nothing for 5 months. That is it tops three times at about $350. Then as now, the stock is trading at a p/e of 53 and yields 1.05% A sell??

Last Febr. this stock looked like it needed to go higher, but not by too much , perhaps $290. Now that we are at $340 it is definitely a sell. One possibility is that there was a “running triangle” wave 4. I am not even sure if that is a legitimate pattern. In any case we are exceeding the confines of the channel. The stock is up 8-fold in 2.5 years. Again this begs the question whether or not we are already in the next bubble. The stock is trading at a rather modest 56 P/E, yield is non-existent. If it is topping a drop of $120 is a minimum.