IYT TRansports Look Weak
Transports look weak, FedEx is a big component of IYT so it may just be an earnings thing.... FedEx gets dumped pre-earnings because everyone anticipates crappy earnings. Looks like it could have another leg down with a reversal next week on earning. If FedEx surprises then we'll see a big rally.
Dumped most of my stocks this morning, was hoping for a bigger gap. No compelling reason to go long until tomorrow afternoon or later this week. There's probably an opportunity to do a 1 - 2 day short, AMZN has already rolled over.
Dumped most of my stocks this morning, was hoping for a bigger gap. No compelling reason to go long until tomorrow afternoon or later this week. There's probably an opportunity to do a 1 - 2 day short, AMZN has already rolled over.
Comment:
Wow, talk about a head fake.