MCD, The hamburger joint, update.

mcd dec 2011 bigchartsmcd oct 2012

The Bigchart on the left dates back to the 18th of December 2011. The chart on the right is as of today. The stock peaked in January at about $100. It has taken all this time to do wave 1 down and a-b-c rebound in wave 2, precisely to the Fibo 61% level. The drop over the past day or two is the start of wave 3. The first target is at around $45 but much lower possibilities lie beyond that. If you bought the recommended put at that time you have lost about 1/2 of your money but you will soon cross over the strike price a second time and there are at least 3 months left to expiry! Buy more ?