CP , Canadian Pacific

CP sept 21 2010 cp sept 21 2010 2

dropped from $90 to $30 in a couple of years , pretty well 2/3  of its value. Now that all the worlds financial problems have been resolved the stock is back up to $65 or so, a clean double plus. Perhaps the stock will go (a lot) higher yet BUT the move from the lows over the past year or two look to me like a near perfect wedge, the signature of a correction gone too far. Looking at the big picture it would appear that the stock dropped in a nice A-B-C, which could be all there is. However, it is also possible that the entire A-B-C is just wave A of a much larger correction!  I do not have the answer but from a risk/reward point of view the stock is up $35 with  – perhaps – another $10 ahead but could drop any moment t0 about $50/$45. A sell.