Restaurant Stocks Shoot Higher
Wednesday, September 8, 2010 at 01:20PM Below is a list of the 30 biggest restaurant stocks in the Russell 3,000 run through our trading range screen. The rally in McDonald's (MCD) has received a lot of attention recently because it is the biggest of the bunch, but the entire group has been doing very well. As shown below, only 2 of the 30 names listed are currently trading below their 50-day moving averages (Sonic and Red Robin), while 23 are trading in overbought territory. Well-known names like Buffalo Wild Wings (BWLD), Chipotle (CMG), Brinker (EAT), PF Changs (PFCB), Panera (PNRA), and Yum! Brands (YUM) are all trading more than 2 standard deviations above their 50-days. While the S&P 500 is still down for the year, the average stock in this group is up 24.25% in 2010. Chipotle (CMG) is up the most at 88.97%, followed by Domino's Pizza (DPZ) and DineEquity (DIN). Sonic (SONC) is down the most at -22%.
Reader Comments (1)
The more people I talk to it really seems as if the smaller investor is terrified of equities. Recently, I've been telling anyone who asks me what to do in this market to wait. That's it, just wait. There is no trend in equities right now. Stocks have moved sideways for about 3 months now. We might get some movement now that the Summer is over and the B-S-D's have returned from the Hamptons. No reason to try to guess though. There will be plenty of time to get long some good stocks if/when an uptrend shows itself.