Is this the start of a big pullback in commodities and rails or a good entry
point? I know that is the million $ question. More specifically, should I add
to my CSX position or will it go to $30 or $28?
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csx needs to come in more in my opinion but commodites in general r looking a
lot better after today...my list is mos at 40,pcu at 18, clf at 21-22,ans sqm at
30..they will do well longer term
Also, I think commodities are experiencing a correction, not another collapse
like we witnessed last Fall. Buy incrementally if you are interested.
I'd avoid the rails. I own a little NSC, but I'm not looking to buy any more
until volumes bottom out, and imo that won't happen for at least another year or
two. More specifically, until Obama stops trying to prop up our phony consumer
based economy. Also, with the current administration, why would anyone trust
owning U.S. equities with the way Washington walked all over the secured
bondholders of GM and Chrysler?
I'm sticking with precious metals, select foriegn equities, and select foriegn
currencies.
Best of Luck
I have long thought that we pull back to SPX 900 before we go to SPX 1,000. Much
of what may be taking place today could be the post-expiration unwind. I expect
a stronger market in the quarter end.
1 months ago - Report Abuse
Its no mil $ question. The chart is broken and will fill the gap. 28 to 30 is
the level to look for. All commodity related stocks are getting crushed. It all
started with POT and one after the other is getting beaten down. But I like CSX
and UNP in the rails. Esp CSX after seeing those fabulous earnings -- last
quarter.
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