Monday, December 1, 2014
Railways are experiencing passionate lovemaking in the bottom
So, being unemployed, I woke up late and turned on CNBC to see Jim Cramer giving his pre-open chat.
One of the things he said was he wanted to watch how rails reacted to the oil price drop.
So let's take a look:
Union Pacific is experiencing passionate lovemaking in its bottom right now.
Norfolk Southern is also experiencing very passionate lovemaking in its bottom, which looks weird to me because I just looked at its system map and it only services the US east of the Mississippi, where there ain't no oilfields to my knowledge.
So that's a knee-jerk puke, to me.
And here's a few Canadians:
Kinda funny that they're dropping, considering their shipping backlog was so great that wheat was being left in the elevators to rot. Serious, this was a big scandal in Canada.
They have more than enough business to stay afloat and energy costs are going down, so what the hell is the selling for?
So I guess this big oil move is generating a lot of hasty repositioning among all the Wall Street honky crackers, which will mean some companies get very much made love to in the bottom for a while.