Birchcliff December 18thI do not think a 10% recovery would be out of line today.
Tax loss season is slipping further into the back-ground and becoming less of an issue as we advance further into December. The selling, (to the extent that we’ve seen), may have been accentuated by a slew of investors that abandoned ship because of Schulich’s departure. As a possibility it cannot be discounted.
I would rather see the share price recover on its own than any propping up my management. Let’s not distract them from their real purpose, (execution) and leave the financial engineering out of it.
That will be the true test of a recovery and the easiest way for us to spot it.