Thursday, May 15, 2008

Transports Make A New High Close



The transportation index made a new high close today. As you know I've been bullish on the transportation index based on Dow Theory and the head and shoulders formation that developed back in March.

I raised my protective stop just below this week's low to lock in profits.
My price objective is almost reached and on the next push up I will exit my long position.

Just so I don't confuse anyone, I'm not long the transportation index but I am long several transportation stocks. I'm simply using the transportation index to manage my stock positions.

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