CNH Rising On Strong Volume (CNH)

Shares of CNH Global NV

are up sharply this afternoon, far outpacing competitors like Caterpillar

or Deere & Co.

, as it is set to report earnings on October 21. CNH engages in engineering, manufacturing, marketing, and distributing agricultural and construction equipment worldwide. The company operates through three segments: Agricultural Equipment, Construction Equipment, and Financial Services. If CNH reported a strong quarter, I would expect to see shares of Titan Machinery Inc.

catch a bid, as it is the largest seller of CNHa products in North America. This could be a derivative play off a strong CNH quarter. If CNH reports weaker than expected numbers, TITN could also be a profitable short on the same thesis.