If this was an isolated event then it would be one thing but it seems to be spreading. I'm just waiting for the European credit markets to lock up. That's when the panic will return to the herd. It's coming.
Tuesday, July 22, 2014
So many big name shares quietly rolling over right now even though the indices are at records. [MCD]
McDonald's shares are plummeting. This recent sell off broke down through the support line that has been in place since Nov 2012. Is there any mention of it in the media? Nope. Not that I know of. I just had to go through individual charts to see what is really happening. The next few days will be quite telling but if Mickey D's can't regain AND HOLD that support line in a significant way then the shares are going to lose confidence and that's a bad thing when almost your entire market cap is just some faith based number.
If this was an isolated event then it would be one thing but it seems to be spreading. I'm just waiting for the European credit markets to lock up. That's when the panic will return to the herd. It's coming.
If this was an isolated event then it would be one thing but it seems to be spreading. I'm just waiting for the European credit markets to lock up. That's when the panic will return to the herd. It's coming.
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