Raising with Air

In poker, the phrase "raising with air," means to raise an opponent when you are holding a hand of basically no value--The quintessential bluff, or setup for a bluff later on, if you will. 

The weak action in the transports of late continues to be cavalierly dismissed by many a market player, trivializing the significance of rails and airlines taking a pounding in recent weeks. As I noted last Friday, instead of getting swept up in an argument about whether the broad market is topping due to the transports, it is much more practical to simply trade actionable shorts in the transport sector and let the rest of the argument eventually fall into place. Still, you get the feeling that bulls have been raising with air on this one, assuming the V-shape bull market will once again render any bearish glaring divergences null and void. 

Headed into the final ninety minutes of trading, I am looking to see how the financials and biotechs close, in particular, with bulls valiantly buying dips in those sectors for a while now. 

And a few names acting well today, exuding relative strength: AMBA CLVS RAD TMUS.