RE:-4.5% 3 of the last 5 days This current momentum means there won't be any support at 14,500 - so looks like its on to 14,000 with in the next couple of weeks, if not sooner. That means every major volatile stock like AC will be driven down (not for its lack of performance or disappointing results- just for the sole reason I mentioned on my previous post).
I had said we will re-test the bottom of mid 7's and it looks like we are on our way to do just that and if if the TSX drops below 14.500 there will be a new bottom to correspond with TSX around 14.000 (6.90-7.10).
I still believe this stock will hit a fresh 52 week high with in 3-6 months. I am buying on major dips (never buy in a rally) so that my break even is even more lower (although, i am still way above water) but more importantly, my profit margin when this baby turns will be sky high.
Don't hate this market manipulation/correction - this is very healthy for the market and more importantly this creates BUYING opportunities in companies ready to take off like AC.
DYODD and best of luck to all.
Cheers