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  • Transports Surge Early, Can They Be Trusted? 0 comments
    Sep 13, 2011 10:27 AM | about stocks: IYT, FDX, UPS, CSX
    This morning, the Dow Jones Transportation Average (DJT) is surging higher by over 100.00 points to 4464.20. The iShares Dow Jones Transportation Average (NYSE:IYT) is trading higher by $2.01 to $80.69 a share. Traders and investors will usually follow the transports very closely because they will often signal economic expansion and contraction. Many traders that follow Dow Theory will also watch the transports to see if they confirm the move in the Dow Jones Industrial Average. Therefore, it is safe to say that the transportation index is a leading indicator. Short term traders can watch for intra-day resistance on the IYT around the $81.25 and $82.00 levels.

    Some leading transport stocks that are rallying higher include FedEx Corp.(NYSE:FDX), United Parcel Service Inc.(NYSE:UPS), and CSX Corp.(NYSE:CSX). These leading transport stocks will often follow the action in the IYT. Recently, when the transports rally for a few days they seem to come under selling pressure again, therefore, traders should take everything on a short term basis at this time.

    Nicholas Santiago

    Stocks: IYT, FDX, UPS, CSX
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