MINNEAPOLIS ( Stockpickr) -- So now we wait. A nice recovery rally has taken some off some of the sting from the selling, but stocks are still in correction mode. Economic data from here will tell us where we go next.
I'm mostly worried that the negative headlines will become a self-fulfilling prophecy. With such dependence on consumer spending, it is entirely possible that a freeze by consumers similar to a deer in the headlights will do real damage to this fragile recovery. Whatever transpires in the future, I'm pretty certain we all have to eat -- and many of us will do so at a restaurant.
In the spring, I analyzed five restaurant stocks, rating the picks buy, hold or sell. I had Buffalo Wild Wings (BWLD), a highflying casual restaurant with lots of growth potential, a hold. Shares are up 9% since I wrote the article. I also rated Chipotle Mexican Grill (CMG) a hold, and that stock is up 25%.