Gotta Have the Transports
You can't do this assault on Dow 13,000 without the transports. You just can't. It's too glaring. Especially on a day when oil is down.
We should have a spike in the transports today and, indeed, we are getting a somewhat anemic rally in the airlines. The truckers, which have a fuel pass-through, aren't doing much and haven't since Expeditors (EXPD) blew up the other day. But the rails -- oh my. They are just being totally victimized by coal. Yesterday coal got a little respite almost in homage to Burlington Northern's (BNI) momentum, something we saw in the Berkshire Hathaway (BRK.A) letter. Today, it's back to reality with simply horrendous performance....249 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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