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Take profits on IMAX over $17.50.

|Includes: CNK, IMAX Corporation (IMAX)

Stock has moved strong into the qrtr as shorts continue to cover and portfolio managers want to say they own it at their next client meeting.  Unfortunately every $1 in share price apprecaition is a hit to earnings.  The stock is trading at fully valued levels for the first time in a very long time.  We have had our day in the  3D sun...

Take profits.  New expansion news and strong earnings are needed to reset valuation.

Disclosure: I am long IMAX