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Cat Stock Blog

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


Today’s close: up 3.3%

Caterpillar leaped out of the gate and climbed all morning, but profit-takers took some of the glow off by the day’s end. Financial and tech shares had a nice outing, too. Good day to be bullish; we’ll see how long it lasts. Full quote at Yahoo Finance.

Indexes were all up: Dow, up 1.34%; Nasdaq, up 2.06%; S&P 500, up 1.64%. Wrap-up at Market Watch.

Caterpillar has had two green days in a row on above-average volume, though both days saw price seepage into the close. Check out Cat’s six-month chart at and pay heed to today’s high, around $32 a share. Then look at the previous lows in October and November: also around $32. This is a classic bear market pattern: old “support” become new “resistance.” We need a strong surge above $32 to be confident that this rally has legs.

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Tom Mangan posted at 1:25 pm February 5th, 2009 |

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