Big insider selling at JBHT. The $7.5M sale hasn't purchased any above mid 90's.
Columns are: date / activity / price / shares / value of transaction / current shares in possession
Attachment 46724
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Big insider selling at JBHT. The $7.5M sale hasn't purchased any above mid 90's.
Columns are: date / activity / price / shares / value of transaction / current shares in possession
Attachment 46724
Transports broke above the June highs despite near zero help from the airlines. E-commerce is likely helping as the biggest beneficiaries have been UPS, FedEx and JB Hunt, CH Robinson and Landstar.
Transports are a leading indicator, and right now it is certainly pricing in a very rosy outlook.
JBHT has yet to top its highs from July 20 when insiders started selling. (Previous post)
^^ Very hard to see a bearish case with a chart like that. ^^
Transports closed the gap from mid-Feb on the weekly. Clear sailing to 11,250 area which lies around 6% higher.
Looking like another new high today for the transports. It's hard to be bearish when this index is making new highs.
Transports really falling apart lately. They were a leading indicator on the way up from March 2020 but need to find support soon. An argument can be made for a H&S pattern (wak left shoulder though) as the right shoulder takes time to play out.
Some bullish progress the past two weeks as the transports are trying to put in a bottom.
Attachment 50565
New highs thanks to the FOMO manipulation at reddit. Avis (CAR) was up 108% yesterday as put holders were forced to buy calls to hedge the massive call buying inflows from RH type traders.
At one point Dow Transports were up nearly 15%. This is the type of behavior you see towards the end of a cycle and combined with TSLA's behavior, is something worth noting.
Attachment 51766
Dow Transports holding up incredibly well during what could very well be a recession that we're in. We're actually above levels seen in the summer months of 2021 right now.
What the Transports are saying is that we never were in a Recession, or if we were, it was just a very mild, very short one for just the first 6 months of this year, and that we're now strongly coming out of it...hence the Atlanta Fed predicting +2.5% GDP for this coming 3rd Qtr (Jul-Aug-Sep).
https://www.atlantafed.org/cqer/research/gdpnow
Transports up 5.5% already this week with strength in airline stocks is helping. Apparently there aren't enough airplanes to keep up with demand - a 180 degree turn from where we were three years ago.