These Stocks Are No Doubt Raising the Steaks

Not only are the major steakhouse firms (or the "quartet," as I refer to the, BLMN DFRG RUTH TXRH) outperforming most restaurant stocks of late, but they also make logical targets for activist investors and/or private equity firms seeking a takeover. Indeed, the same can be said for virtually all dining stocks, including fast food.

But the steakhouse quartet right now is sporting a very strong collection of technical setups for longs. True, Del Frisco's reports on Thursday. However, the rest of them have earnings out of the way now and are ripe for longs. 

Bloomin' Brands, below on the daily chart, is the owner of Outback Steakhouse chains, not to mention three other intriguing brands: Fleming’s Prime Steakhouse & Wine Bar, Bonefish Grill, and Carrabba’s Italian Grill. Bonefish seems to have plenty of potential growth ahead of it, and Fleming's is an underrated higher end steakhouse to compete with DFRG RUTH, etc.. 

Thus, BLMN appears to be in a good position to compete and grow, as the technicals suggest on the daily chart, below. This is a sound, clean, bullish setup which is outperforming in a soft tape early on this morning. 

Elsewhere, Micron is surging again in the semiconductor space. We will be spending some time this morning gauging whether other chips we have our eye on follow suit.