This Market Tell Shows ‘Real’ Picture

Market pro Stephen Weiss, author of The Billion Dollar Mistake, tells us to be careful of headfakes in this market. For a solid read on stocks he suggests this market tell.

Transports provide the real picture, he says. In the past, transports have been early cycle stocks -- there’s no reason to believe anything is different now.

And transports have been performing very well. In fact, the Transport ETF is poised to break through its August highs.

Looking at individual names in the ETF, Weiss is particularly impressed with the action in rails, FedEx and CH Robinson, a freight transportation logistics firm.

He also points to bullish action in rail car loadings as a bullish sign.

Weekly carloads in August were at the highest level since November 2008. While car loadings are not yet close to the record high levels the trend is certainly positive.

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Trader disclosure: On September 14th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour owns (AAPL), (BAC), (MSFT); Finerman’s firm owns (BAC); Finerman’s firm owns (GLW); Finerman’s firm owns (HPQ); Finerman’s firm owns (JPM); Finerman’s firm owns (IBM); Finerman’s firm owns (BBY); Terranova Owns (APA), (AAPL), (ARUN), (BMO), (C), (DO), (EOG), (FCX), (FTO), (XBI), (GS), (HES), (IBM), (JOYG), (NBR), (NOV), (OXY), (ORCL), (PEP), (POT), (RSH), (GLD), (SLB), (SWN), (SU), (SPLS), (RIG), (UPL); Jon Najarian owns (AAPL) call spreads; Jon Najarian owns (ARST) calls; Jon Najarian owns (CSCO) call spreads; Jon Najarian owns (RHT) call spread; Cortes is short Crude Oil; Cortes owns (RIMM)

For Brian Kelly
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SOLR)
Accounts managed by Kanundrum Capital own (RIMM)
Accounts managed by Kanundrum Capital own (TLT)
Accounts managed by Kanundrum Capital own Japanese Yen
Accounts managed by Kanundrum Capital are short Australian Dollar

For David Levy
***No Disclosures***

For Stephen Weiss
Weiss owns (CSX)
Weiss owns (UPS)

For Scott Nations
Nations owns MSFT

For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (YDNT)
Virtus Investment Partners own more than 1% of (DLUEY)
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For Patty Edwards
Edwards owns (HPQ) for clients
Edwards owns (MSFT) for clients
Edwards owns (BAC) for clients
Edwards owns (GLW) for clients
Edwards owns (GLD) for clients
Edwards owns (SPY) for clients
Edwards owns (VXX) for clients
Edwards owns (PGM) for clients
Edwards owns (C) for clients

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