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iShares Dow Jones Transportation Average ETF

5/19/2013, 8:56 AM ET

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Friday, May 17, 8:13 AM Thomas Lee lifts his year-end S&P 500 (SPY) forecast to 1,715 from 1,580 as the bull has already outrun his expectations. His team sees clues economic performance is picking up, including the outperformance of semiconductors (XSD) vs. transports (IYT), and the steepening of the 10 year/30 year Treasury curve. Risk/reward is particularly appealing in tech (XLK), healthcare (XLV), and financials (XLF). Comment!
Thursday, March 7, 3:17 PM Dow Theorists get chatty as both the DJIA (DIA) and DJ Transports (IYT) set all-time highs yesterday. "I've never seen anything like the action since the 2009 bottom," says Richard Russell. Ryan Detrick says when both averages make new highs near the same time, stocks tend to see strong returns over the following year. 4 Comments
Wednesday, January 30, 9:11 AM Quick question: What's the biggest holding in the SPDR Retail ETF (XRT)? It's Netflix, with 1.68% of assets. Money poured into the XRT yesterday, with the fund growing AUM by 31.25% (Amazon is a 1.07% holding). The Transports (IYT) saw a big inflow, growing AUM by 17.9%. Losing funds was the SPDR Oil & Gas Explorers (XOP), down 15%. Comment!
Saturday, September 29, 2012, 8:55 AM Stick the part from Dow Theory about the Transports and the DJIA needing to confirm each other in the same closet with your bell-bottoms, writes Jacqueline Doherty. Since the 1970s - as the U.S. has become a more service-oriented economy - the S&P 500 has gained an average 6.5% in the six months following a period (such as now) when the Transports have lagged. This handily beats the S&P's average 6-month gain of 4%. 11 Comments
Monday, September 24, 2012, 11:10 AM Leading the bounce in the market today? It's the transports, IYT +0.9% as the S&P erases nearly all of its early loss. A dive in the transport index last week (and a general divergence from the S&P since the big rally started in June) has the Dow Theorists in a lather. 4 Comments
Wednesday, September 12, 2012, 5:01 PM One leg of the bear case for stocks - the lagging performance of the transports (IYT) - may be getting knocked out. In the last week, transports have sharply outperformed, catching up to the SPY on a M/M basis. In fact, the broader - but obviously economically sensitive - cyclical index has led the way for the past 6 weeks. (h/t ukarlewitz) Comment!
Monday, September 3, 2012, 1:30 PM Technician Louise Yamada urges clients to keep stops tight as she watches equities with growing unease. "You could call it a vacuum rally," she says, characterized by short-covering, low volume, and deteriorating new highs vs. new lows. The lagging Transport Index (IYT) has her attention as well, but following this indicator kept some out of the big summer rally. 31 Comments
Tuesday, August 14, 2012, 1:05 PM Doug Kass continues net short into this rising market, noting the S&P - back at its spring highs - could be making a triple top. Also of interest, the Transports (IYT) and Small-caps (IWM) have sharply diverged from SPY's solid performance over the past month. Then there's the VIX - it's rarely paid to buy stocks when it's been this low, he says. 10 Comments
Thursday, January 19, 2012, 9:40 AM Defining overbought as being more than 5% above a 50-day moving average, Bespoke says 24% of tracked ETFs fit the bill. Leading the list is the homebuilders (XHB), more than 13% above its 50 day MA; Brazil (EWZ) leads the country ETFs, 8.2% above. A few more days of market gains and look for talk about the entire market being overbought. Comment! [Quick Ideas]
Friday, October 7, 2011, 1:09 PM Sterne Agee gets a tepid response from the market after initiating the airliners today: AMR (AMR -0.6%), Allegiant Travel (ALGT -2%), Delta (DAL -2%), JetBlue (JBLU -0.2%) and United Continental (UAL -3.2%) are all started with buys, and US Airways (LCC -3%) and Southwest Airlines (LUV -4%) are initiated with a neutral. Comment! [On the Move]
Wednesday, September 7, 2011, 12:31 PM Fitch Ratings keeps its transportation-related ratings unchanged saying signs in the sector point to an economy growing, albeit at a slower rate. The usual suspects - higher oil and commodity prices, lower government spending and consumer tightening - were pinned by Fitch as leading causes for a slowdown in transportation activity. Comment! [U.S. Economy]
Thursday, August 25, 2011, 6:05 PM Airline shares took a hit today as investors anticipate a wave of flight cancellations due to Hurricane Irene. The ripple effects are likely to be felt across the country as flights become grounded throughout major U.S. travel corridors. United Continental (UAL -2.9%), AMR (AMR -2.9%), Delta (DAL -5.8%). Comment! [On the Move]
Tuesday, August 16, 2011, 2:18 PM Ed Yardeni looks at the 26-week moving average of railcar loadings, and he thinks it shows the economy may be coming out of its soft patch, despite prior divergences between the measure and transport stocks (IYT -1.7%) that sometimes have foreshadowed a recession. Loading activity has rebounded to its best reading since December. 5 Comments [U.S. Economy]
Thursday, June 2, 2011, 3:51 PM A breath of economic exuberance: Union Pacific (UNP +1.4%) CEO James Young says his company has seen no evidence of a slowdown, and believes second-half freight shipments will exceed first-half results. UNP and other railroads lifting transports (IYT +0.4%): KSU +2.8%, CSX +1.2%, NSC +1.2%. 9 Comments [U.S. Economy]
Monday, March 21, 2011, 5:10 PM Despite oil’s rise, airline stocks (IYT +2.2%) gained altitude today, as Maxim Group's Ray Neidl expects a spring rally in airlines with the worst winter weather behind the industry and strong demand allowing carriers to pass through increased fuel costs to consumers. "Fuel costs may be near their top, which should provide U.S. carriers with a very strong 2012 as fares continue to rise." Comment!
Monday, March 7, 2011, 4:42 PM Airline stocks (IYT) mostly moved higher today, bucking rising oil prices and the falling stock market. Researcher Maxim says recent meetings with carriers indicate continued strong demand for seats, and if pricing remains firm, airlines could rally from depressed levels despite rising fuel costs. UAL +4.7%, DAL +1.8%, AMR +1.1%, LCC +0.2%. Comment!