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originally posted by: AugustusMasonicus
a reply to: BatheInTheFountain
No, actually I look at this as a great buying opportunity.
Full disclosure, I will be loading up on one of my favorite companies, Union Pacific (Symbol: UNP).
China will suspend its new stock market circuit breaker as of Friday, the Shanghai and Shenzhen stock exchanges said on their websites on Thursday, after the mechanism sparked sharp falls in the country's volatile markets.
The breaker, in place since the start of this year, was designed to temper the market but instead caused a wave of selling. Analysts and investors said the trigger levels were too low and too close to work effectively.
www.reuters.com...
originally posted by: IAMTAT
What price is your buy for UNP?
It's dropped a lot since Wed.
originally posted by: IAMTAT
AugustusMasonicus
originally posted by: lipton1
originally posted by: IAMTAT
AugustusMasonicus
I've worked for UP for a little more than a year and I will tell you that we're hurting.
Car loads are down. Diesel is cheap so OTR trucking is now cheaper than rails, fracking has halted so there's no frack sand shipping and coal fired plants have been forced closed so coal loads are down.
In all seriousness all the railroads are worried. They're hinting at furloughs soon for us and we've been in a hiring freeze for over 6 months.
originally posted by: smirkley
I live near a railroad. They call it the gateway to the west. Actually I dont know ehat its called. But it isnt far from the golden spike. And the trains never stop hauling shipping containers. Many many trains every day. And it never stops. So I dont see it. But you are an insider, so I have to take it at your word.