The unloading of 37 M shares from ACE kill the positive momentum.
We can understand that ACE managers have wait the best moment to sell thier shares; Air Canada made some presentations , ruling in AC favor were published ( labor agreements, Chorus), we had good results on november....
Buyers understands that the pipeline of good news is empty, that a huge volume is waiting for them, that Cormack isn't able to sell the shares fast. This volume have to be digested.
Only a very positive new like an agreement on pension deficit can revive the momentum.
We have to be patient.