RE:ill do 1 more buy to fill my position
hey wideopenthrottl, timing the bottom is a guessing game. Still, since Dec 4, AC has been dropping from a high of +27 to now under 22, with a steep drop during the past week. Compare this to some US airlines whose sp has barely moved in the same time period. I already hold a hefty number of AC shares (along with CHR). Yesterday, I started buying more in both, a little at a time precisely b/c no one knows when sp will find a floor. I'll continue buying small amounts until sp starts rising. The aviation/transportation industry will recover; its just a matter of time. Same reason I bought NFI a few months back. Yes, this new covid strain is a set back, but termporary. Once the vaccine starts taking effect on enough people, we'll see confidence rise, fear subside and passenger loads returning. IMO, given the forward looking bent of markets, AC will run during the next 3-12 months. Remember, this was a +$50 stock pre-covid. The world isn't ending; as awful as it is, covid will pass. GLTA.