On Wednesday, I put in a stop loss of 93.80 on Caterpillar (CAT). The stock has slide considerably over the past few weeks. The stock has dropped over 8% since the start of February. The sell off was exacerbated on Wednesday when the company announced that machinery sales had declined recently. I decided to put in the stop loss in the morning when the stock was at 94.50 and I wasn’t expecting the stop loss to be triggered. However, the sell off continued during the day and Wednesday ended up being one of the worst one day drops in the Dow in 2013. Despite my sell, I still believe that Caterpillar is a fantastic company. 2013 won’t be such a great year for Caterpillar, but the company has major potential over the long term. I purchased the stock last October and I walked away with a 12% gain. I’m looking to reenter into the stock when it reached the low 80s.