Morning Es Trading
With little economic and/or company-specific news available for traders to price in during Tuesday's regular session, active participants were left to speculate on when (not if) Spain's Rajoy will request to be bailed out and on what stocks the esteemed investor David Einhorn might discuss at the ongoing Value Investing Congress.
As silly as it may seem, when it became known that Einhorn was not going to discuss Herbalife (HLF) the stock shot immediately higher to the tune of three-plus points. Unfortunately for Chipotle (CMG), the famed investor with a cult-like following wasn't the least bit interested in chasing the popular burrito maker into nosebleed valuation levels. Other stocks on Einhorn's hit list were General Motors (GM) and Cigna (CI) to the long side and Green Mountain Coffee Roaster (GMCR) on the short side. Additionally, It should be noted that Einhorn was only negative on CMG because of the stock's excessive (in his opinion) valuation, not because of any perceived accounting shenanigans....648 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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