1/18/13 - CMG was squeezed all week back to complete gap fill and stop under $300. Until $300 is taken out on a open and close over it, then my bias is to short next week. The company has pre-announced they will have revenue shortfalls and must raise prices, so the news will not impact the stock when announced and the drop from last earnings was the big money getting out of this stock. There could be one more push to test the solid green sell signal at $306.00 so as you can see below, I have highlighted the buy and sell points.

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1/16/13 - Pre announced poor cash flow and food inflation over a week ahead of earnings report. DANG, what a manipulation this turned out to be. Look at the massive short covering two day rally off that news. WOW, I have never seen a chart look like that. Question now is will the stock regian all of it's losses and continue to be a massive fund favorite? Well, with the fact they have to raise prices to maintain margins, that will remain to be seen after a couple of quarters with higher prices. I am watching for some profit taking to kick in tomorrow and will get in on some puts for a Friday Day trade. Longer term, over $300 I will get long but under $300 I am short. Now that the news has been pre-announced, I do not expect earnings (Feb5 the ) to have any effect on the stock like it did last quarter....bummer!

If you were in in puts this week then you got quite the surprise, but you would have needed to take that profit yesterday or first thing this morning. As you can see below, the puts I suggested made a huge profit and then were wiped out today!

Massive short covering for past two days and now it's looking ready for some PROFIT TAKING tomorrow.

You had to be quick on the trigger with these options if you were short because they were wiped out today.

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1/10/13 - CMG is still showing weakness and until that Daily green reversal bar is taken out it's a short for me.

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1/4/13 - This weeks action is telling me this stock is heading lower and until or unless it clearly gets back over $310.00 I am shorting it.

12/29/12 - Just waiting for the action to begin and it's going to be volatile for this stock. Next earnings release is 1/28/12 and if they miss again it's bye bye birdie!

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12/21/12- This stock is resilient but I do not think it will be able to get back over $300 so I am short under today's low and long with tight stops over $297.00

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12/19/12 - As I suspected, CMG put on a rally and has now filled the gap. If this gap fill does not hold I am short again.

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12/10/12 - No selling today so I am looking for a gap fill attempt and it that does not hold I will get short again.

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12/9/12 - No rally present since my last post but the more this stock trades sideways the more potential it has to make a measured move. I am bearish until it clears $276.00 and will short it tomorrow if it stays below $270.00

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11/28/12 - Relief rally or on the rebound? I am bearish and looking at today's upside move an opportunity to get a better short on. As I said below, the Market wide rally would lift this stuck, and it did. Any failure to move over today's high and I will start my short adding more under today's low.

I will be looking for a lotto play on Friday with at-the-money (ATM) puts.

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11/27/12 - No more love for CMG with institutional investors. Today was a steady controlled sell off indicating the interest in the stock has gone by the wayside. The weekly chart shows us two tombstone doji patterns indicating the trend for this stock will be down. First stop will be the 200MA. If there is an market wide rally, CMG may join it, but I would still short that too.

Profits Up!

The donFranko