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Long Play Updates

Dow Chemical - DOW - close: 55.40 change: +1.05 stop: 51.95

Shares of DOW continue to soar and the stock has closed above what could have been round-number, psychological resistance at the $55.00 mark. Our target is the $56.00 region and we're planning to exit in the $55.90-56.00 range. The big volume on today's move is very bullish but we would suggest that conservative traders consider exiting now or anywhere over the $55 level as the stock is starting to look a bit short-term over extended.


 

Picked on February 11 at $52.01
Gain since picked: + 3.39
Earnings Date 01/27/05 (confirmed)
Average Daily Volume: 3.5 million

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