I know a bunch of short haters jumped all over me when I advocated shorting this stock near $26.50. I closed my short position out at $25.70 recently. In the spirit of fair disclosure I have taken a long position today.
I really apologize to all the longs that lost money as this stock fell from its highs to its price today, but now we can safely buy the stock at $25.70 with much of the earnings and political risk off the table. I do believe we can make it back up to near $27 before the end of the year.
Just wanted to say that the one time short seems to have had the last laugh here.
The weakness today should be short lived. CSX beat on top line, bottom line, and future expectations were positive. Intermodal and ag should be very strong in 4th quarter, Yellen and QE mean no alternative to stocks, so the next 3 months should be very good. QE is probably off the table until mid 2014.