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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (52763)	7/22/1999 4:14:00 PM
From: John Pitera	Read Replies (1) \| Respond to of 86076

It is amazing to me how CAT is zeroing in on 60 like a magnet. bigcharts.com (EDIT: you will have to modify the chart to a 3 year time period yourself as this crummy service will not let me save a 3 year chart as a link) do you see how the 60 area was the top for CAT in 1997 and 1998,If you draw a horizontal line at 60, that is the resistance point that has now become a support point. If we stay above 60, Many are looking at CAT as a stock that has broken out and has come back to touch the break-out area and they expect it to head to new highs. The 59-61 area is not a perfect support resistance point as we had that decline to 55 in May, but until we break down through this critical support zone, it means that it can go up. the measuring implication if it does go higher would be either from the trading range of 1997-1999 from 40 to 60=20 points or 44 to 60 = 16 points. So the bulls would look for 76 or 80. I see mkt weakness in Q3 so I doubt cat can run but WDIK