Chop day & ARCO

The action today is pretty expected after a couple rally days with some sideways action.  The small selloff in the morning combined with the evening out of the indices gives no further indication where this market is going.  Yesterday I did follow through and sell short some FSL at a price of 11.15.  It looks brutal on the long term chart and there seemed to be a total lack of interest in the stock (at least compared to other companies) during the last week.  The IMAX buy was a bit of protection in the face of a rallying market.

With McDonalds showing growth and the stock at an all-time high, another stock to take a serious look at is Arcos Dorados (ARCO).  MCD's sold off it's 1,750 restaurants in South America a few years back to private investors with a 20 year franchise agreement.  It has the largest share of the Latin America fast foot market with over a 12% market share and franchises in 19 countries.  It went public earlier this year and may be a good way to get foreign exposure with a dominant brand that's growing quickly.  



:note:  *current price of 27.40.  Chart automatically updates to price may be different than when posted.***