Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Joe, is it not possible that the airlines have become a very small part in the weight of the transports (only four of the 20 are airlines, three sub $10 and only LUV just a little above), and the like of FDX, UPS, UNP and YELL simply overshadow any losses in the four airlines? I don't know what the multiplier is, but a $1.5 rise in FDX and UPS over shadows a $.5 decline in all airlines, even though, percentage wise, the airlines declined more, than the rise in those two shippers. The strength of the transport simply indicates that the economy is "chugging along" and products are moved in the economy.