If there's ever a rule to live by when investing, it's don't bet against Warren Buffett who earlier this year started building a stake in railroads. Today they were one of the few bright spots on Wall Street after CSX Corp. (CSX) said it will be able to boost shipping rates and Canadian Pacific (CP) said it turned down a takeover offer. Do you still have time to get in or has this train left the station?
Karen Finerman tells the panel CP made a strong denial and she was surprised the stock jumped as much as it did.
Pete Najarian says CP rose 20% on speculation and it affected the entire transport sector. Also, he expects to see consolidation in the space and recommends keeping an eye on Kansas City Southern (KSU) and Trinity Industries (TRN).
Eric Bolling likes Norfolk Southern (NSC).
Jeff Macke prefers Union Pacific (UNP) and reminds the panel to be a discriminating buyer.