iBankCoin
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

McExhausted, Indeed.

 

 

 

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I wrote this post┬áseveral weeks back discussing the notion that McDonald’s was likely too stretched on the monthly chart to continue higher, as buyers exhausted themselves. Keep in mind that the stock has acted as a proverbial safe haven over he past several quarters, so you have to consider whether the trade became too crowded to persist in the intermediate-term.

Today, McD’s is seeing a negative reaction to sales data they released this morning. I do not think Ronald McDonald has put in a “generational top,” but I am expecting a whole heckuva lot of sideways-to-down action in the coming months.

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6 comments

  1. HalfBloodPope

    This image will haunt my dreams for all eternity.

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  2. GYSC

    Yeah thats fugly. Still have a slug in LT account, I believe in those nuggets!

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  3. Old Salt

    Yes I am with HalfBloodPope re the image. There are some things I would rather not see and that one is near the top of the list. I may never eat a big Mac again.
    BTW love the analysis and the market recaps. Very professional.

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  4. Anton

    Thank you for sparing us the pic of The HamBuggerer.

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