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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: freeus who wrote (472)	5/12/2001 3:08:13 AM
From: pbull	Read Replies (1) \| Respond to of 13815

Good question. During "normal" market cycles, yes, the transports are considered "early cyclicals" and rise in expectation of better economic times ahead. They're also quite sensitive to expectations of a change in fuel prices. I don't follow airlines at all, I look at trucks and rails. While we're here, the price of coal (Wyoming basin) has tripled year-to-date. That's right, tripled. So California's plan to buy "cheap" electricity from those old, dirty, coal-fired plants in the Midwest isn't going to work. Anyhoo, yeah, the transport index actually broke out Friday (it's at about 2,900, and the all-time high is, I think, 3,150). I hope I'm not too long-winded, but yes, the transports actually are leading the market here, and my gosh, when was the last time that happened? I don't know, but I see it as a positive when looking out to late this year and on into 2002. PB