Show Entire Article
Market pro Stephen Weiss, author of The Billion Dollar Mistake , tells us to be careful of headfakes in this market. For a solid read on stocks he suggests this market tell.Transports provide the real picture, he says. In the past, transports have been early cycle stocks -- there’s no reason to believe anything is different now.And transports have been performing very well. In fact, the Transport ETF is poised to break through its August highs.
Looking at individual names in the ETF, Weiss is particularly impressed with the action in rails, FedEx and CH Robinson, a freight transportation logistics firm.He also points to bullish action in rail car loadings as a bullish sign. Weekly carloads in August were at the highest level since November 2008. While car loadings are not yet close to the record high levels the trend is certainly positive.
______________________________________________________Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.
Page 1 of 4 | Next PageShow Entire Article
IYT News & Analysis
No recent news available
DATA IS REAL-TIME EXCEPT NOTED WITH *
* DATA DELAYED AT LEAST 15 MINUTES