Chart Trade Idea

Here is a trade I am looking to open this morning based upon a chart that I know very well.

When $CAT was over $100 recently I traded for a move under $95, it went to $88 instead.  A very nice over shoot.  I didn't think the recovery rally would get $CAT passed $95, and sure enough it recently failed to break $95.  I now think the stock is heading back under $90.  I have two trades I am looking to open based on this:

This weeks $94 puts at $.83

January Monthly $91 puts at $.70

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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