Coach Diving

I'm watching Coach (NYSE-COH) closely today (and pulling my hair out), as Merryl Lynch downgraded it from Buy to Neutral this morning. It has already dropped more than 5% on the news, but recovered to around $31/share presently, down 4%.

This is not what I wanted to see after a good week of gains last week, and awaiting tomorrow's earnings announcement. I have my fingers crossed for a good earnings announcement, to say the least.