The railroad space is a small one and becoming even more so with the CP and KSU deal recently. One name however is standing out with the action in CP which currently trades “just” 10% off most recent 52-week highs. If one wanted to compare that with peers it looks firm as NSC CSX and UNP all trade between 17-19% off their own annual peaks. All three of the names trade below their 50 and 200-day SMAs, while CP is comfortably above both. The rails and the truckers are responsible for a great deal of transporting goods and like the rails, some of the truckers have seen some weakness. Former best-in-breed names like ODFL and SAIA now trade 28 and 39% off their annual peaks. But one wants to look to the leaders in the niche spaces for possible clues. No one wants a single name to carry a lot of the weight, bulls want to see more participation within, but stocks that demonstrate backbone while others lag should be respected.