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Caterpillar You are a Dogapillar Short it

Participants:

Posts: 6

mikey22222

Covers Rehab

Joined: Jan, 2008

Posts: 535

Posted: Jul. 24, 2008 - 2:49 PM ET #1

Caterpillar breaking down from extended triple top It is going to the dogs ...what an awful way to go. Should go to 50

jaxwhitey

Veteran

Joined: Nov, 2006

Posts: 1752

Posted: Jul. 31, 2008 - 1:28 PM ET #2

It's having trouble breaking below the 20dma around $70. Once it does that, then its look out below time.

I bought some Aug $67.5 puts, so I hope it does break down through that $70 quickly

mikey22222

Covers Rehab

Joined: Jan, 2008

Posts: 535

Posted: Jul. 31, 2008 - 3:43 PM ET #3

I would like to say I would never trade options on any of my ideas some of these things take longer than I think

jaxwhitey

Veteran

Joined: Nov, 2006

Posts: 1752

Posted: Jul. 31, 2008 - 3:53 PM ET #4

Oh great, now you tell me.

Seriously though, I do my own work after I read anything posted anywhere. I most likely would not have looked at CAT if it were not posted here, but since you posted I looked at it and thought it looked good for a move down to $66-$68 short term.

Got to love CNBC dragging out the CAT CEO again today at 4pm, for another fluff piece I am sure.

umgmu

Legend

Joined: Jan, 2005

Posts: 47987

Posted: Aug. 3, 2008 - 11:37 AM ET #5

They are getting out of a business staple -the truck engine business ..

was told this by a guy who owns a Trucking Company .. and he has trucks made with Caterpillar engines .. by 2010 he will be forced to by trucks made with engines designed by Cummins ..

jaxwhitey

Veteran

Joined: Nov, 2006

Posts: 1752

Posted: Aug. 5, 2008 - 12:19 PM ET #6

Got my move down to the $66-$68 level and cashed out my puts.

Might get back in next month, we'll see how things play out for a few days.

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Caterpillar You are a Dogapillar Short it

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