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GeraldHS

CAT earnings play

Short
Caterpillar (NYSE:CAT)  
GeraldHS  
NYSE:CAT   Caterpillar
Earnings short breakdown
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earnings short breakdown
CAT
Daily + weekly breaking down and initial downside move happened premarket despite Ok earnings.
Here's the plan:
  • Get short into the spike at the open at around 79 with target being lod(76.75).
We are protected by 79 round #, 50%fib retracement(79.13), 50MA(79.05) & previous day low(79.15).
Give it a 22c risk and you should be safe.
Sit back and watch it fade that opening move up.
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