We want to implement a short position in Cheesecake Factory, (CAKE, $53.56) at tomorrow’s opening.

We like the risk/reward of a short position in Cheesecake Factory at tomorrow’s opening.  It appears to just completed a “Backup to the Ice” and has 11 points of downside objective.  We would use a buy stop at the high three days ago at $55.63.


Good Trading,
Todd Butterfield

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