CAT Out of the Bag

By IBTimes Staff Reporter | February 03 2010 11:34 AM

Yesterday the market grinded higher seemingly continuing the oversold bounce. We will continue to play the bounce in the short term. We are looking for stocks who came out with positive earnings but have yet to break out. CAT fits the bill. Look to enter at 53.80 for a move up to 55.50 with stops at 53. The stock could trade all the way up to the gap at 56.

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