Thursday, January 19, 2017

Selling CSX

Hunter Harrison, the CEO of Canadian Pacific Railway, announced he will resign and try to join up with CSX, possibly as the CEO, to turn the railway around.

The full article is here in the Wall Street Journal:

And while this is potentially good news for CSX, the stock was already approaching my target sell price of $40 before this news.  With this announcement, the stock is up over 18.5% today, priced around $43.60 per share, and presents a great selling opportunity.

I sold my entire position today, almost a 2X sized position, and locked in a gain since purchase of roughly 115%.

Here is a FastGraph of CSX BEFORE today's price gain of over $6/share:

I'll move CSX to my watch list because I like the company, and put a target buy price on the stock of $27 per share.

That's all for now,


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