Was a beauty move by the shorts. Still in down trend. Little covering with their play money to take a few dollars off the table then back in shorting. Lower high, then another lower low. Folks saying shorts are done and it is still down around another 7% today.
MCD was a 100 dollar stock the beginning of 2012. It has since with this incredible bull market fluctuated between 80+ and around 100. Things are much more difficult for MCD now. This dollar raise that they gave to company owned employees is hurting franchise's and their earnings. This stock is going back to the 80's. Be patient. It doesn't go straight down. Some of the longs will think that is what is happening.
Short this as wall street. This is a great trading stock for wall street. When they are short jump on for part of the ride. You won't get all the trade but you can do well. They release earnings Wednesday morning and are getting a head start to the poor earnings.
So far today the volume is light yet no one stepping in to provide support. Has had a nice 1.60 pull back so far and continuing down.
Do think earnings will show slowing. It appears that MCD is trending in one of it's extended drops. I am not covering yet. Not as much a sell as on March 25 but still a sell. Competition is becoming too great and they are making some poor decisions in attempting to compete.
Will admit not happy regarding legalized stealing as it is always those who probably should not be trading that get hurt.
Wall street at it's manipulative best. Money is cheap so they will borrow money to buyback shares to give to themselves. Wall street gaps up the stock over 20 dollars. Legalized theft.
I read another report that shares that they missed by 8 cents which of course far worse. Now it is looking bad.
That is a significant miss when it was thought that they low-balled the new lowered estimates. Would think it goes down from here. That being said, maybe they give some positive news on the conference call. Not looking good at present.
Low expectations. If things picking up then heavier breezes will move it up. If things stay the same then not much movement and will remain cloudy. If warns could go under 30. and become a little warmer in the room. Now how is that for a fair weather report.
And my brother just bought another brand new HOG for longer trips. That sell will be in this quarter's revenue. May be in the 60's by earnings date.