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Strategies & Market Trends : Value Investing
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To: Suma who wrote (34265)4/22/2009 3:05:30 PM
From: Wallace Rivers  Read Replies (1) of 78748
 
FWIW I think the restaurant stocks we have mentioned are overpriced at current levels...but that doesn't mean they can't continue "momo" stock status and go up further. There is probably some short covering going on. Also FWIW, but I checked, and see there are no shares available to short from my broker (Fido) for PFCB PNRA and CMG. I suppose that could be seen as less selling power available to potentially knock the stocks down.
Of the ones we have mentioned, it seems that just about only CMG isn't at or near a 52 week high. From that perspective, I guess one could make an argument it has more room to run than the others. I just can't pull the trigger on a 30+ PE stock, no matter how good the burritos are!
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