PNRA) did the same. Starbucks ( SBUX) reports Thursday. While I don't think we absolutely need to see equally-as-impressive results from Starbucks to prove the following point, it would help. Investors overreacted to Chipotle Mexican Grill's ( CMG) poor quarter. I cannot believe Chipotle's peers will continue to grow, yet its days of solid forward motion are over. While I tend to agree with the caution TheStreet's Jim Cramer urged on his Mad Money television program Monday night, I'm not quite as down on the business. Cramer's right, for the time being, CMG is a broken momentum stock. But, all it takes is one impressive earnings beat to regain investor faith. In other words, proceed with caution, but do not write off a company that plans to expand by about 160 locations in 2012. Chipotle has barely scratched the surface on international expansion as well as its Asian restaurant concept. I concur with Cramer -- $270 looks like a good price for the stock. If you have the cash to support the trade selling a CMG September put somewhere in that $270 range on further weakness could make sense as a way to possibly establish a long position.