RY again

RY mar 24 2011

This market is wearing me down quite a bit.We go down 1000 points and come right back up 1000 points, each time setting new records. It makes one doubt the accuracy of certain calls and that is why I am repeating my expectation that RY will trade back down, now to at least below the $49 level, unless the stock trades above $63.

The stock has a near perfect pattern, 5 down , 3 up and despite the fact that this has taken a lot longer, and that the stock has gone a lot higher, NOTHING changes un till the outlook is negated by trading above $63.