There are some stocks I have long ago stopped trying to understand and which I simply will not touch. These include the likes of Netflix, Priceline, and – of course – Chipotle.
Chipotle, along with Google, announced earnings after the close today, and both of them are exploding higher to lifetime record prices. I’ve tinted where they’re trading right now:
I actually ended the day short 30 shares of GOOG, but i covered 10 when the stock was up 4% just to take some of the sting away. It’s evident to me I’ll feel a much worse sting in the morning, but 20 shares isn’t going to kill me. All the same……….not quite the direction I expected!
One thing is for sure – – everyone with GOOG and CMG calls are dancing on rooftops right now, whereas everyone with GOOG and CMG puts are on the same rooftops, wondering if they should jump off.