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March 28, 2006
Transports Ignore Rising Oil
Despite a continuing bull run in oil, the Dow Transports is hitting new all time highs. First it was truckers, then the airlines rebounded from the abyss and now the rails are hitting new highs. The only potential weakness here is the overbought condition of the Average. Transports stocks are not concerned about high fuel prices and this implies that economic strength outweighs the high price of oil.
Posted by Arthur B. Hill at March 28, 2006 05:08 AM