ACQ, Auto Canada , our canary in the oilfield.

acq feb 10 2015

This was one of the better calls (see also WPT and COS), right to the day. You could have picked it up for , say $33 the next Monday. We are about to finish the a of an a-b- up corrective move. We would sell at around $44-$46 and take a 25/30% gain over a week or two and then await the b leg  (at $37?) and buy it again for the c leg. This has the potential to go quite a bit higher as the wave progresses. If the entire correction was already complete (we do not think so) much higher levels are possible. We would , in any event, exit at the line if our expectations come about.