The 3rd qtr earnings were basically flat as the rest of the industry is. We are bouncing along the bottom. Only catalyst for PCL in the short term is the dividend and if the overall market makes another run up? But I don't see any PCL specific earnings catalyst to push this stock past $33-$35 over the next few quarters. But buying at $29 and selling at $33.50 over a month isn't bad.

I also beleive my thesis on PCL I posted on Sept 27th is still intact:

""Prior to Oct 2008 PCL traded with the general market. With its dividend I believe it is possibly viewed as a defensive play, so I beleive the correlation is with interest rates. As I have posted previously, at least during the last 9 months PCL is range bound by the dividend yield. PCL rarely goes below $28 which is 6% yield, and rarely goes above $35 or so, about 4.6%. The 6% yield is probably a scan many brokerage houses use to begin buying and the stock goes up from $28. The 4.6%, less inflation and taxes, at about 3% real yield seems realy close to 2 and 5 year Treasury notes or tax free bond yields, doesn't it? Until the general economy, especially in jobs and housing sector show growth, PCL is a nice range bound trade, and then it might resume some correlation with the general growth of the economy and market? Just my view on this company, and I continue to buy below $29 and sell above $33-35""

I think PCL will find $29 soon but will rebound possibly during the ex-dividend period?