Sunday, August 22, 2010

Why I remain long in MCD

I've been in and out of MCD,,, here's why I remain long for now.  MCD has been stronger than the DOW SPX or QQQQ.

MCD is near an upper swing target soon. I'm bearish for SPX (though a bounce seems to be coming first), and am hedging my SPX shorts with MCD long while the SPX and DOW bounce here.

Double click the chart to see it full size.



* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".

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