Sabtu, 12 September 2009

Transport stocks have bottomed and make a turn

My dad was a bus driver. He worked for Public Service in New Jersey back in the
Fifties driving Pennsauken to Camden to Philadelphia. He passed away when I was very young. But I can remember when I was five, he pulled the bus into our driveway. To me it looked like the size of an aircraft carrier,very impressive. My kudo's go out to all the bus drivers out there, (especially my buddy "Coop" , John Cooper devout Eagles fan), that turn that big round steering wheel around racking their back and maneuvering these mighty vehicles around in city traffic.
Anyway this is my segue over to discussing the trucking transport stocks and a shipping stock. I have been tracking YRC Worldwide (symbol YRCW), the old Yellow Freight, in my watch list forever, to see if there was any life in the sector. I was going to recommend it last week at $2.50 but I got busy and needed the above Public Service bus postcard image scanned from my collection and never got around to blogging the post. Well the stock shot up last week 46% to $3.66 a share. (the stock traders lament, the one that got away). Well you can probably still buy it. I would wait till though till after options expiration the third Friday in October.
Some other names to look at in the transports would be Knight Transportation, (Symbol KNX), DryShips (Symbol DRYS), and J.B. Hunt Transport Services, (Symbol JBHT). I have traded DryShips between the $5-7 price range and this was a stock that traded as high as $116.00 share. It is a traders stock to move in and out of.

Happy trading. Be careful with October coming!

Freewilly

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