Caterpillar (CAT, $122.29) Cover short at the market, or lower buy stop.

Caterpillar is now trading some $17 lower from our initial short price. It is now oversold on the Technometer, and the Wyckoff Wave is also deeply oversold.
So we recommend covering shorts at the market, or since we are at previous support on CAT and the Wyckoff Wave, we could easily accelerate lower here and it could be better to lower the protective buy stop to the previous high at $129.98, and watch short position carefully.


Good Trading,
Todd Butterfield

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