3 Stocks Pulling Down the Dow Jones

As the government shutdown continues and the debt ceiling approaches, these Dow stocks are rolling over

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Caterpillar

CAT
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Caterpillar (CAT) shares are dropping out of a multimonth consolidation pattern going back to April. More dangerously, this pattern is a continuation of a narrowing trading range that started in early 2011. The support line drawn above mirrors the stock’s 200-day moving average.

Today’s breakdown represents the first time CAT has moved below this level since early 2010.

In response, I’m adding a short position in CAT to my Edge Letter Sample Portfolio.


Article printed from InvestorPlace Media, http://investorplace.com/2013/10/3-stocks-pulling-down-the-dow-jones/.

©2016 InvestorPlace Media, LLC

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