$CAT closes below trendline support

I've been having a great time day trading CAT lately, and yesterday it finally had a close below trendline signaling a short entry. An exit would be any close back above the trendline on a daily basis.

CAT has an earnings announcement on October 22nd, so we don't have to worry about a surprise at this point. If you want an added degree of safety on entry, wait for yesterday's low to be taken out in order to short.

I might do that. I'm going to watch the tape today and I will post an update if I do take the short position.