JPMorgan names its top short ideas including Shake Shack and Sunpower

The firm has a new list of 'structural or tactical short ideas' heading into the second half of the year.

Stocks like Shake Shack and CarMax are among several of JPMorgan's short-term investment opportunities heading into the second half of the year. Stocks are broadening their rally from the first half of the year, with the S & P 500 and Dow Jones Industrial Average both up more than 3% this quarter already. Both indexes touched intraday highs on Monday while the 30-stock Dow closed at a new record. The Nasdaq Composite has also rallied about 4.3% this quarter.

Another restaurant stock, Cheesecake Factory , made the cut as a short pick, as JPMorgan expressed concerns about its near-term outlook. According to Ivankoe, Cheesecake Factory has "unrealized organizational/store level efficiencies" that should remain, and its cost of goods sold, or COGS, are at cycle lows, which may hurt margin expansion.

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