RE: $44.50 a Resistance point ??I'm looking and considering as well for the conservative long term portion of my porfolio. Reasons:
1. Long term very little risk. Has BOM ever had a losing streak over 5 years? Even with the recent disaster, it's still up over 5 years ago and more if you factor in dividends. One could argue that the recent selloff makes it even less risky.
2. Worst case, canadian banks struggle for years and even get into trouble. Maybe the feds will ease up on industry consolidation restrictions, and if you remember a few years ago it was BOM being courted by RY.
3. Dividends more likely to increase over time than decrease.
4. A big risk right now is inflation so sitting in bonds or similar is probably riskier.
5. Diversification.
6. It's contrarian. The so-called professional advice i've received in the past has almost without exception sucked, so if the industry doesn't like BOM right now, that's probably enough reason for me.