RE: Taking a smack-down today? It's a pretty ugly sell off today ... in just one day it completely wiped out all profits made from yesterday's huge run. There is some hope though. The action has mirrored the ugly spring 2012 meltdown including the mid-May 2012 reversal from its bottom. What happened about one year ago was the price hit a low of about C$9.30 and rallied to C$11.50 in two weeks. The interesting thing is that high was also reached on a big gap up open from previous day's C$11.20 close and it sold off from the open to a daily low near C$11. The C$11.50 high formed a "cup" pattern dating back 3 weeks in duration and it drifted slightly lower to mid-C$10.60's in the next 2-3 days before the next leg up forming the "handle" and after breaking C$11.50 it ran up to low $13's in just one week.
Look at today ... gap up open at C$7.59 today from yesterday's C$7.45 close and it also forms the "cup" pattern dating back to a C$7.60 hi on Feb 27, 2013. Stock sells off significantly today from the hi open, albeit slightly more intense than in mid-2012 day above. Next several days should drift slightly lower in price on low volume ... looks like it wants to close the gap in the low 6.80's from Monday. If history repeats then we are good for at least one more dollar of upside from the C$7.59 high of today in the near term.
However, my balance sheet looks like dirt after today .... all profits vanished! Markets giveth and markets taketh. GLTA.