No further comments, just a reminder. Sure beats owning it at $35+
CAT
CAT Feb 18
Here is Cat again. This one together with J Deere and Cummings were all predictable basket cases close to the tops. Now the bottom may be closer than the top. Cat has completed, almost completed a fairly clear 5-waves down. If 5 is to equal 1, a normal event, then it should travel about $20 and therefore should end at about $26. An extension cannot be excluded but given the target of about $47 the risk/reward equation fovours the long side soon. DE and CMI, Cummings are in slightly different positions but should also have upward potential soon.
CWB, Canadian Western Bank, where they boast that they finance anything that is yellow and burns diesel, a corresponding uptick might be in the cards soon. The stock is down 62% from $32 to about $11 and appears to be trying to retest the previous low.
CAT again Jan 26
Sometime ago, before this website, I showed charts of John Deere and Cummings Engines using them as a proxy for heavy equipment. All showed indicated that a 5-wave bull wave of many years was coming to an end and therefore a drop of at least 61% should be expected. More recently I suggested that Cat may trade back up to about $50. We fell short of that ($47,50) and now it looks like we are going to make a new low sometime in the not too distant future. Wave 5 down seems to be starting now! (a few weeks  ago)
Cat a sell soon at $50????
Cat is hard to count, however from the low it appears to be doing a clear a-b-c, implying that it will hit the wall at about $50
