What does "in transit" mean on the FedEX tracking site?

So i've been tracking my package and this it what it says so far....

Date/Time - Activity - Location - Details
2/16/09 2:02 AM - In transit - TOLEDO, OH
2/14/09 8:47 AM - Departed FedEx location - BLOOMINGTON, CA
2/14/09 12:35 AM - Arrived at FedEx location - BLOOMINGTON, CA
2/13/09 8:36 PM - Left FedEx origin facility - SAN DIEGO, CA
2/13/09 7:39 PM - Arrived at FedEx location - SAN DIEGO, CA
2/13/09 5:31 PM - Picked up - SAN DIEGO, CA
2/13/09 2:06 PM - Shipment information sent to FedEx

So i can understand what the rest of it means... But what does "In Transit" mean? I know what the word means, but i dont understand it in this context.
...So its on the way? As in it just passed through Ohio? Like... it didnt arrive or depart, just drove through? If thats the case, shouldn't it be here? That was over 24hrs ago and its only like a 5 hour drive.... O.o
i looked it up on mapquest...

It said it was a 5 hour drive, so if thats the case, when do you think it would arrive?

in transit means that its off the frieght truck, and on the local truck. it should be too you within the next 24hours.