DEAT CAT BOUNCEHey guys,
I went back in the chart and circled what I considered to be similar situations to where we're at right now. I think over the next month, there is an extremely high chance CAT has a fakeout rally that could very well reach $225/share. That being said, I don't expect it to breach ATH's, and I expect the rally to be an incredible shorting opportunity before a potentially violent markdown phase. The agriculture sector is still relatively high up, and when you look into it, it is fresh off of distribution and primed for a markdown(made obvious in names like DE, CF, and MOO). I am currently waiting on CAT to rally, hopefully up to $220-230/share before selling my position and flipping entirely short on the stock. I expect this stock to see the low $100's well before year-end.
Disclaimer: I was previously short CAT, and am currently long CAT at $180/share in anticipation of a dead CAT bounce(ha)
