I agree with you 100%. I covered my 88 dollar short at $83. The stock went down to $82 after I covered at $83 but it's too hard to predict the exact bottom. I always say take your profits and don't look back. Like you said better to be a pig and take profits than to get greedy and get slaughtered. If you try to max out your profits on a stock most of the time it will backfire.
Agreed, take profits, especially shorting a company like CAT, who is buying back over $2 billion in shares with their free cash flow. Most companies seem to buy back their share at 52 week highs, instead of 52 lows, like CAT is doing.