MCD, McDonalds

MCD 2011

We were a little premature in expecting the stock to fall after it had completed a triangle and what then seemed to be a sufficiently large 5th wave (see previous comments and chart below). The main principals underlying that call (the stock always returns to the lowest point in the triangle ) applies just as much today and now it is so much more compelling. At $80 this was a sell and every indication is that it may go to $45 or lower.

MCD JUL 2010 2