Transports Head South, Buy This Level Today

One of the leading sectors that most traders and investors follow is the transportation sector. Today, the transports are falling during the session. The iShares Transportation Average ETF (NYSEARCA:IYT) is declining lower by $1.01 to $125.73 a share. When the transports decline many investors believe that it is a sign of economic contraction.

Regardless, as traders we simply want to know when we can buy or sell. The IYT should have intra-day support around the $125.25 level. This is a potential bounce level for today and should only be used by day traders.

Nicholas Santiago
www.InTheMoneyStocks.com