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Buying Checklist 91



                Chipotle Mexican Grill – Q1 2012              Price
                                                        Announces earnings
                Daily Chart                             after close 4/19/12
                Good Earnings, Bad Results
                Chipotle sold off hard on heavy volume
                despite seemingly positive results for Q1:
                                                                400
                - EPS & sales growth both accelerated
                - Beat estimates for earnings & sales  Big sell-off on massive volume day after
                                               earnings announced: Marks change in
                                               trend. Big investors dumping shares.
                                               Dropped 44% over next 6 months.
                                                                350
                                                                    © 2013 Investor’s Business Daily, Inc.
                               Sell signal: Big drop on heaviest volume in months  Volume
                               (See Selling Checklist)         1,300,000
                                                               800,000
                                                               500,000
                                                               300,000
                                                               180,000
                  16  30  13  27  10  24  9   23  6   20  4   18
                      January  February  March  April    May
              Despite posting accelerating earnings and sales growth, Chipotle sold off.
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