Take a look at the RY's 20 year chart!!You want to see the future look at the 20 year chart...right now we are just hitting a 2002 support point in SP...if and this is a big if we can hold here then we should be fine. Trading in a sideways 3 - 4 dollar band... (using the bollinger band info) just like it did between 2002 and 2005... if not RY... could head for the 200 DAY MA on the month chart of 24.33.
Take note that RY and all the Canadian banks are in oversold positions on all the charts... the Month, Week and Day.
And I maybe nuts but I bought 1000 more today @ 31.20...so I hold 3000 now @ 32.39 so I am definitely hoping for even just a sideways price action. I'll sell a Covered Call soon to hedge my position as well.
Good luck one and all ...the Dividends are worth holding this puppy in any case .50 cents per share paid to shareholders of record JAN 26, 2009 and PAID FEB 24, 2009.