10 is not a bad exit point from here. Thing is, this is one stock that once it starts towards 10 it should see close to 11 not long after. I'm just sorry I bought one day too soon. That 8.65 price was a gift for those that bought. And if they started selling at 9 I'd say they're smart.
Ya got Buffett working his magic in D.C. for rails. Ya got congress screaming about throwing billions at the rails, and we've seen a recent drop in price that only comes around every few years. In actuality, we'd have to see the whole economy crash for this to drop another 20%.
Watched a video over the weekend of a guy who is touted to be privy to what's going on. He says that Obama renigged ( sorry for the spelling) on a promise the U.S. had made to the Saudis way back when in that we'd secure the kings rule in Saudi Arabia by not allowing Iran or any other country in the region to threaten its rule. By allowing Iran to build a bomb the Saudis now feel the promise was broken. Hence, they have no problem selling oil cheaply or possibly going to another form of exchange to purchase oil other than the dollar. It does make sense.
Author Goldstien must get all his 'facts' off Wiki. He brought up some good subjects. Just that he writes as though he knows the whole truth. I was in L.A. and working as a conductor when the accident with the Ash train occured. What happen was NOT brake failure. The engineer on the head end was inexperienced. The engineer on the rear of the train acting as a 'helper' told the whole story. He watched as the head end engineer #$%$' away the air in the train line coming down the hill. So much so that when he really needed to slow the train he had no brakes to do so. I'm surprised he didn't bring up the Roseville bomb fiasco in '73. Now THAT was something.
Well, that guy that sold out a few weeks ago driving the price down to 9.75 did do it for a reason. Possibly he knew what lies ahead?
DH, What I see on the macro of all this is the increasing involvement our government has in the workings of the stock market. That, and the big brokerage houses. 40 years ago you wouldn't see anywhere's near the volitility you do now. And it has to be because of changing conditions. Or better yet, maybe the 'unchanging' conditions.