this Mexican Food is HOT ($CMG)
CLIFF NOTES: well we looked for a top in/around the 610-620 level and it hit and fell 140 bucks. BUT – it gapped threw the pattern to new highs. I still see a 5 wave count and would bet that this stock is at 250 bucks vice 800 in a year but that gap has 1 of 2 messages. Crazy, unbelievable strength or one final exhaustion gap up/near the highs. Strategy here is simple .. if long, enjoy the rid but cut bate if we ever close below 580.
Last, take a look at the chart below w/ volume … pretty interesting that every 13 weeks for the past 2 years a spike in volume has occurred ….hmmm.