It has acted quite well. It made a base last year and broke it a little. He would like to see it break out further. You want to see these producers strengthen here. This is a fantastic name and it will go if the whole sector goes. $8 is where you would take some profit, if it comes down to it. He would still buy it today.
He has also been selling many bank holdings in Canada. The momentum is weakening and you are getting lower highs and lower lows. You would probably bring buyers back in about $56-$60. Pay attention to stocks rolling over.