Cat Stock Buying Point

[The Chartist]

From the eyes of technical investors, the $60 area represents a buying opportunity. In the last 4 months, it’s been supporting and attracting buyers, and it’s likely to do the same again now.

http://www.chart-dow-stocks.com/cat-stock.html

This is an example of identifying more Cat stock buying points. Why? There’s been a struggle around $60.00 between buyers and sellers in the last 4 months. However, the goal here is not to make a recommendation.

Any comments?

[rffrydr]

One of my favorite buy patterns: two rip-roarin' thumps down, with the second taking out the lows but closing inside the Boll. Bands. Big gaps above the market and measured move off 200dma realized.

http://stockcharts.com/h-sc/ui?s=CAT&p=D&b=5&g=0&id=p28751251766

S&P's done its "head -and-shoulders," yield it getting bought, commodities pushing back (esp crude)....

Yeah, CAT closed on its low, but it's a friday. We'll see what next week brings but Aug 9th looks more and more like "the day" to me. Obama is gonna show some "leadership".....maybe; and Jackson Hole will begin to get "discounted"--"whatever that means the direction should be up.
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