Weekly Wiretap Pick Of The Week CAT

MAX Trade Potential: 284%

My Trade Plan Details:

• CAT July 11 $390 calls around $3.50 to $4

• Stop: CAT below $375 for the close

• Target 1: $390
  
• Target 2: $395
  
• Target 3: $400
  

My Reasoning:

Technically, CAT is nearing an all time high of $414 but we have some distance before that. I like the next chart highs of $400 and $407 for possible medium term swing targets but $390 and $395 as more short term targets. Higher highs and higher lows for a while now makes me feel good about this swing into mid week.