Nasdaq-100 Trust Rolls Over Says Market Timer Frank Kollar.
May 12, 2006 (FinancialWire) (By Frank Kollar)
The exchange traded fund Nasdaq-100 Trust (NASDAQ: QQQQ) suffered a 2% loss Thursday. Over the past several months it has recovered from every sell-off and confounded bulls and bears alike. Is a rebound in the cards again?
This time the Nasdaq-100 Trust has suffered substantial technical damage and Thursday’s close, at $40.74, is just over one-half percent above major technical support. Since November 2005 no decline has broken below $40.40. And all declines, however fierce, reversed and rallied from this level.
Should the QQQQs close decisively below $40.40, it would bring in short sellers and the path of least resistance would be down, possibly with substantial momentum. We are not the only technicians who recognize the importance of this level which ads to the downside potential. The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy is SHORT the QQQQs.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
For up-to-the-minute news, features and links click on http://www.FinancialWire.net
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation for its news or opinions. Other divisions of Investrend, however, provide shareholder empowerment platforms such as forums, independent research and webcasting. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on http://www.investrend.com/contact.asp
For a free annual report on a company mentioned in the news, please click on http://investrend.ar.wilink.com/?level=279
The NewsFeed is now available in multiple formats to your site or desktop, free. Click on: http://www.investrend.com/XmlFeeds?level=268
© Copyright 1996-2006, Kollar Market Analytics, Inc.,
All Rights Reserved.
FibTimer reports may not be redistributed without
permission.
Disclaimer: The financial markets are risky. Investing is
risky. Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy or
sell any security. Opinions are based on historical research
and data believed reliable, but there is no guarantee that
future results will be profitable. |
