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Thursday, August 30, 2007

CAT

This was the match that lit the fuse of yesterday's rant. Back in July, CAT had an earnings miss and gapped down at the open. During the course of the day, I heard 2 different experts on the radio screaming about what a bargain CAT was, exhorting the listeners to get in there and buy.
I've been tracking stocks that have earnings misses, and they normally sell off for a a week or 2. That's what CAT did, so the bargain hunters ended up negative. CAT did rally, just in time for the market correction, so if you were lucky, you about broke even. If you held it, you are sitting on dead money right now. CAT will most likely recover, but it may take a long time.

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