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Caterpillar Inc. (NYSE:CAT) stock news and links


Today’s close

The Fed decision to cut interest rates to near zero gave everybody a boost. Cat wallowed in the red most of the day and ended up far into the green — 3.7 percent — as the Dow/S&P floated everybody’s boat.

10-day Cat chart.

10-day Cat chart.

Cat’s numbers:

  • Range: 41.12-43.90
  • Open: 42.73
  • Close: 43.79
  • Volume. 11,253,300

The Indexes

  • Dow: 8,924.14, +359.61, +4.20%
  • S&P 500: 913.18 +44.61 +5.14%
  • Nasdaq: 1,589.89, +81.55, +5.41%

A couple caveats: Huge melt-ups like this are characteristic of bear markets, as short sellers get washed out by temporary bullish sentiment. Also, Cat’s rise didn’t exceed the prices of a few days ago — inability to set new interim highs on a day when interest rates were cut to nearly nil is not an exactly a bullish outcome.

New highs could easily happen tomorrow, though, if no bad news intrudes.

one comment | Permalink |
Tom Mangan posted at 1:18 pm December 16th, 2008 |

One Response to 'Today’s close'

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  1. Rick McCharles says:

    Nice looking site, Tom. I like the theme.

    Permalink | Posted December 16th, 2008, at 9:15 pm

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