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This will be 'the next sector to drop’: Trader

What's the next sector to fall?

With biotechs and momentum names having been crushed in recent weeks, one trader sees the weakness extending to a section of the market that has stayed relatively strong: transport stocks.

"I want to look at economically sensitive sectors like the transports," Dan Nathan of RiskReversal.com said on Friday's episode of "Options Action." "When you look at the IYT, which is the iShares ETF on the transports, when it broke out of 100 in early 2013 it went up 30 percent. You would have thought it was a social media company this year."