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Strategies & Market Trends : Classic TA Workplace

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To: Clappy who wrote (52345)	9/3/2002 2:11:33 PM
From: reaper	Read Replies (1) of 209892

i'd be careful of the transport index. the bankruptcy / liquidation of Consolidated Freightways is causing big bump-ups in the prices of the other LTL carriers, specifically Yellow and Roadway (recall btw the Roadway missed badly last week). the rationale is that with one less competitor in the business that's tons of market share for the others to divy up. said rationale of course ignores the fact that the industry is beset with so much excess capacity that one company going away is not going to make much of a difference IMO. in fact, as i am writing this i count 14 of the 20 Transport Index components as DOWN on the day, so nearly ALL of the gain is from some IMO non-logical buying of Yellow and Roadway as well as a rally in United based on the hiring of the new CEO. Cheers

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