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  • Mining Equipment Stocks Dig An Early Hole 0 comments
    May 2, 2012 11:00 AM | about stocks: JOY, CAT, DE, TSCO

    This morning, all of the leading mining equipment stocks are coming under early selling pressure. Caterpillar Inc (NYSE:CAT) is considered the leading stock in the mining equipment sector. Today, CAT stock is trading lower by $1.24 to $100.87 a share. Short term traders should watch for some intra-day support around the $100.00 and $98.00 levels. The daily chart of CAT remains weak as the stock trades below the important 50-day moving average.

    Some other leading mining equipment stocks that are selling off today include Joy Global Inc (NYSE:JOY), Deere & Company (NYSE:DE), and Tractor Supply Company (NASDAQ:TSCO). All of these stocks will often trade inverse to the U.S. Dollar Index. Should the U.S. Dollar Index decline intra-day these stocks are likely to catch a small bounce off of the morning lows.

    Nicholas Santiago

    (click to enlarge)

    Stocks: JOY, CAT, DE, TSCO
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