RE:Why the correction?Could be lots of reasons. One is namely the anticipated doom that China will bring to the world. To be more clear, "emerging" markets are doing poorly. This translates in to less people traveling and the Canadian dollar hasn't been doing well either.
I was going to write a post on the play for today and get feedback but got dragged into a meeting and couldn't. In hindsight now, I would have sold off around around $9 to lock in massive profits (from when I entered) and waited for this to go a bit lower and jump back in. Market will be finicky for awhile but I've decided to hold to my LONG belief and refuse to play where I don't like being; in and out of the market like a day trader. AC will rise! Stick to your game plan, only you know what works for you.
Feb 12 is the AC financial results, I think and believe we're in for a good time! We'll also get guidance on what they plan to do as the Canadian dollar slips as they were forecasting an average of 1.04 to the USD.
CAT beat estimates and now on to AAPL tonight! Good luck and all the best!