CAT gapped down after reporting Earnings in the Morning.
It grinded lower nicely towards the open and I expected some sort of relief move before taking a entry. The Market sold off at The Open as well and there was no real relief move and just a choppy spike. It rather sold off, but hesitant with wide spreads and hard to predict. It was more a play of probabilities and gambling to take a short.
Hence I took a quick profit as it traded slowly and was unpredictable, but likely to continue lower.
When I tried to reenter 125.50 crack I got filled badly and took off the trade rather quickly. Turned out to be a good call as CAT bounced for VWAP. To my surprise it held and would have allowed to re-enter.
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