California Pizza Kitchen (CPKI) – 04-29-2009
Restaurants like CPKI, BJRI, and CAKE have all been on an absolute tear lately. PNRA just got killed after hours for merely meeting expectations today, so I think the sector is showing that its hopes are a little too inflated. If there is a market correction these will all be solid stocks to watch for short opportunities.
Triggers
- Above $17 – note the 52 week breakout and consider playing if there’s a lot of consolidation between now and then (and the economy is better)
- Below $14 – short
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