Professor’s Comments Update 5/18/16

Posted by OMS  at May 18th, 2016

I think Caterpillar (CAT) is an interesting short near current levels (71.75). The developing Hockey Stick pattern on the Daily charts suggests a break of 70 could send the stock to the low 60s. If you don’t especially like trading the volatile inverse index ETFs, you might want to take a look at CAT.

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Not sure of the terminology we use? Check out these articles

The Hockey Stick Pattern
The Creation of Waves and Trends
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All of the commentary expressed in this site and any attachments are opinions of the author, subject to change, and provided for educational purposes only. Nothing in this commentary or any attachments should be considered as trading advice. Trading any financial instrument is RISKY and may result in loss of capital including loss of principal. Past performance is not indicative of future results. Always understand the RISK before you trade.