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Commentary
10/6/08
Playing Defense
Charles Carlson, CFA
Editor, DRIP Investor Newsletter
The Dow Jones Transportation Average went to new lows last week, thus confirming the bearish market trend under the Dow Theory.
While the new lows in the Transports are not a positive development for stocks, the new lows do not necessarily imply that the market will move significantly lower. In fact, when looking at some other indicators we use, one could argue that stocks may be near a bottom.