Just found out CM being sued by HollingerThe case seems to have merit as CIBC may have been in conflict of interest.
I think short-term momentum will be negative. Depending on what may or may not be "reported" as far as CIBC's US subprime exposure, this stock could be in a range of $85-$92 shortly. But under $90 I will hold by nose and buy the stock. Looking for EPS around $8.00 (maybe less deoending on subprime issues) this year and expecting EPS to be flat next year taking a conservative view that business will soften and loan losses will rise.