GeraldHS
Short

CAT earnings play

NYSE:CAT   CATERPILLAR INC
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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