Stocks Are Still Tanking, But Two Huge Areas Are Making A Surprise Rally

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Amid today’s vicious sell off (the Dow is off more than 200 points), one corner of the market is up today: the “trannies.””Trannies” is the slang term for the Dow Transports, which have been notable underperformers this year.

“Although the senior indices are still firmly in the red, it is notable that the Transports have turned green (+0.21%),” said Jonathan Krinsky of Miller Tabak.

Leading the trannies today is Ryder System, the trucking and logistics company that blew away earnings expectations and raised full-year guidance.

Semiconductor stocks are also looking good today.  Chipmakers AMD and NVIDIA are up 4% and 3% respectively.

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