The markets are surging higher again today, following more optimism in Europe over a drop in Italian yields and the slightly less ugly debt situation. In addition, light volume due to the Veterans Day holiday in the United States allows the upside to hold and gain. As the markets advance, key stocks are making moves. Below are the keys to the trade.

The important and highly followed transportation index is once again declining this morning. The iShares Dow Jones Transportation ETF (NYSE:IYT) is trading lower by $1.50 to $90.86 a share. The IYT has declined by over $10.00 since making a 52 week high on July 7, 2011.

Frontline Ltd. (NYSE:FRO) and Overseas Shipholding Group Inc. (NYSE:OSG) are surging today, jumping more than 5% each. Call buying noted in FRO started the move. In addition, major instability in shipping lanes associated with North Africa and the Middle East could increase shipping rates. Oil and gold are both jumping dramatically today on the fear sweeping the globe.

As I have blogged about for quite a while, I believe the price of oil will continue to increase as the dollar gets weaker. As the dollar showed signs of weakness Tuesday, October light sweet crude oil contracts blew past the $70 per barrel mark to close at $71.10.