$CAT closes below trendline support I've been hav
Post# of 474
Posted On: 10/10/2012 8:16:26 AM
$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.
[IMG]http://i.imgur.com/TBO0N.png[/IMG]
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