View the full cat chart at Wikinvest

Cat Stock Blog

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


Today’s close: up 5.28%

Caterpillar notched its first positive week of 2009 with a 7.8 percent pop from last Friday’s close of 30.85. There was no sane explanation for the three-day buying binge that got us here (today’s lame excuse: terrible unemployment numbers will hasten passage of the federal stimulus package. Right.). Full quote at Yahoo Finance.

Major indexes closed in the green too: Dow, up 2.70%; Nasdaq, up 2.94%; S&P 500, up 2.69%. Wrap-up at Market Watch.

Volume in Cat shares of 16 million was down a bit from yesterday, but still well above average. Three days in the green on high volume suggests a lot of confidence in Cat’s prospects (though I can’t help wondering how much short-covering had to do with these big booster steps), and today’s close is well above yesterday’s $32 resistance level. Next week will be the test.

no comments | Permalink | Tags:
Tom Mangan posted at 1:17 pm February 6th, 2009 |

Leave a Reply