Wednesday, April 23, 2008
High Gas Prices = Less Disposable Income
Can anyone tell me who the hell eats at Bob Evans? Old people after Sunday services? I've often wondered how they stay in business when I never see any cars in their parking lot.
As for Cracker Barrel and I-Hop, they are roadside eateries. Think summer trip. Something tells me that after dad stops and fills up the minivan at $3.50+/gallon he's not going to want to stop again.
I admit to having a special affection for Cracker Barrel. Think sour dough french toast. That being said, I bet all three of these stocks are going to trade much lower. Haven't taken any action in these names yet as I remain cautious in initiating new short sales but I will be looking for an opportunity in the near future.
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