CMG is the one that really has my interest (although not my $$…yet) with the very odd chart action on this one. for the last few months it appears to have been put on auto-pilot…. steadily increasing by nearly the same modest amount day after day with virtually no volatility on very low and decreasing volume. i remember several stocks had similar moves leading up to the flash crash. not saying that will or will not happen with CMG but it’s is setting up for one big ol’ collapsing of the bids and i can see a bearish engulfing candlestick that mauls weeks, if not months of gains in one fell swoop. this stock has had a high short interest ratio for a long time and maybe it’s run out of natural buyers and this auto-pilot move up is just steady end of day forced short-cover due to margin calls as anyone short CMG is likely short other things as well and would likely be getting squeezed nearly every day this year. just thinking out loud but watching this one closely. they must make one heck of a burrito to command a 60 p/e ratio and $418 stock price. here’s a 2-day period chart that shows the divergences and overbought readings along with that odd price action so far this year. the circled area show the subsequent corrections (peak to trough) that followed every RSI reading of 80 or above in the span of this chart, about 3 1/2 yrs.
