23Jan12:15 pmEST

Biodegradable Burgers

5mnshj3 After a brilliant bull run for roughly a decade, McDonalds is looking more and more like a major top by the day. Along the lines of my analysis of IBM, and even AXP, I view MCD as another iconic, stodgy brand flirting dangerously with maturity. On the monthly chart, below, you can see MCD's long bull run followed by the last few years of being fair or "dead money," with the risk being that this entire phase amounted to a major topping out process. If correct, on pretty much any further weakness from here on out I see a move down into the mid-$60's. Either way, those of you who have followed me for a while know I have been cautious on MCD for several years now, and for good reason--The stock has literally gone nowhere since late-2011. MCD  

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