12Jun11:02 amEST

Out of My Way, Buster

A devastating post-earnings gap lower by Dave & Buster's Entertainment Inc. (PLAY) to the tune of 21% as I write this completely erases all of the stock's 2019 gains, heretofore. Surely, that is more than a mere flesh wound to longs in PLAY, where each location features a full-service restaurant and a video arcade.

One of the silver linings to PLAY's beatdown, however, is that we have quite a few causal dining peers which are ignoring PLAY's slide. And when you consider the broad market its second day of pulling back as we speak, it would be rather easy for the likes of CMG SBUX SHAK WING to have been whacked by PLAY's sympathy selling, or "pin action."

Instead, most or all of those names are green right now, with WING (updated below on its daily chart) setting up another high and tight bull flag after its latest explosive breakout. 

Other restaurant charts of note and doing more work on: CBRL DENN DIN JACK TACO. 

Stock Market Recap 06/11/19 ... Stock Market Recap 06/12/19 ...

 
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