ucsgears

CAT - Industrial Sector is over heated.

NYSE:CAT   CATERPILLAR INC DEL
152 7 5
Here is a stock from the sector to watch out for. Also Keep an eye on CMI             .
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Comment: And that's how I find it....
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I had a similar chart with resistance lines, and i missed to get in on the break of that down trend. I see you posted a Short idea on it now with a heavy resistance zone that i also noticed and did not take a position. Would you be a buyer on the pullback given that the trend seems to have changed?
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I make decisions on the fly. I lost 8% portfolio loss in this sucker, with this sector rotation. Was a bad freaking loss, compared to my 2 - 3% limit per trade. Over confidence can easily get me there.... lol. In this case, I will wait for a trigger and trade. I need to see it develop some weakness on the Daily chart.
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To answer your question on the pullback buy, If there was a valid setup on lower timeframe, YES.
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2use ucsgears
How low do you go on timeframes for a decision - one hour? 30 min ? 15 min?
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Depends how busy i am.
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The answer -
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Wrong chart -
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