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Revolutionizing Investor Psychology
 
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moondog



Joined: 19 Feb 2006
Posts: 3

PostPosted: Mon Mar 06, 2006 8:23 pm    Post subject: cat Reply with quote

today looks like the start of a down trend is this correct?
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Bookworm



Joined: 29 Dec 2005
Posts: 71
Location: Lubbock, TX

PostPosted: Mon Mar 06, 2006 11:41 pm    Post subject: Reply with quote

Moondog,

Not to be facetious, but any day can be the start of a downtrend. I understand what you are saying though.

Take a look at the stochastics. See how they are crawling across the top? This bespeaks a strong uptrend. I'd be careful about jumping for a slide down just yet. If it closes below the 20MA on heavy volume, then I'd give it a second look.

You'll see a similar drop in SBUX on 10/27/05. Look how it turned right back up the next day and moved up for awhile.

You might even consider this dip a buying opportunity instead of a shorting one. Be nimble here, though. And I would watch what it does tomorrow for about 15-20 minutes.

If the major indexes are headed down, and this one opens down, wobbles a bit, and then heads down and is down at about 9:45, I'd go short with a half position. If the major indexes are up and this one opens flat or up, wobbles a bit, and then heads up and is up at about 9:45, I'd buy a half position.

Since CAT is a Dow component, and since Dow is now in a downtrending channel, I'd be more inclined to see it move lower. Only the charts tell.

Peace and all good,


Bookworm
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