RE:Investor Fatigue Sorry sky - not to sound all doom and gloom but, I don't find any positive momentum in this stock since it tried to hit 11 in June.
Most, if not all of the positive catalysts (ie strong management, increased international/domestic expansion and services, increasing load factors etc) have all been priced in. These are variables that all of the analysts understood and priced in to their various target prices. Since then, there has been no real unexpected news to punish the shorters as they play this stock sideways and down.
The only uncertainty currently is the FX. No one really knows how low the CAD will drop and until we see the CAD strengthening again (not on a one off but on a sustained basis) or we exceed expectations not already priced in on the next (QTRLY) release- AC will continue its current trend until it finds a bottom. That's why it's been trading sideways and been a great short play for traders.
Right now there are no catalysts in CAD favour. Gold is out, greenback is in for the obvious reasons and oil will keep dropping consequently until it finds a bottom probably between $80-85.
I hope I am wrong about my previous post but in the end as they say, DYODD.
Cheers