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Friday, November 11, 2011

Domino's Pizza (DPZ) update

The stock still continues to base in the formation.  We no longer have the pennant formation.  I would say the flag formation is still intact.  But the move needs to happen soon.  I am targeting a move from 34 to 35 to start taking profits (or sooner if this pattern takes too long to materialize).  I am starting to see a lot of positive coverage in the press about DPZ (e.g. Cramer has now recommended it in Mad Money).  I am looking for that move where everyone piles in driving the stock up about 15-20% and take my profits as option expiration drawn near.

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