BNS, Bank of Nova Scotia, update

bns may 28 2014 bbns may 28 2014 s

We did not think that BNS would trade beyond $61 for years but here we are close to $70. The precise count eludes us, we show two in the big chart, but there is also a third possibility with a large B-wave. For the moment we are more interested in the channel both big and small. For twenty five years this stock has meandered from the right bank to the left bank and back again, only once seriously leaping out of the channel. Again we hit the left bank and consequently we fully expect a return to the right bank and perhaps a lot more.