Nasdaq-100 Trust (NASDAQ: QQQQ), Bounce Imminent Says Market Timer Frank Kollar.
May 25, 2006 (FinancialWire) (By Frank Kollar)
The exchange-traded fund Nasdaq-100 Trust (NASDAQ: QQQQ) has taken substantial losses since it broke below support at $40.40. Declines have escalated on increasing volume as forecasted by Fibtimer.com (http://www.fibtimer.com) on May 12th .
But now this selling has become overdone. The Q’s hit a critical support level on Wednesday and the odds are good we will see higher prices. Wednesday’s rebound from this support level, followed by a late day rally, were bullish events. There is potential here for a tradable rally for active traders.
We should see a follow-through advance over the next couple of trading days. The Fibtimer.com ETF Timing Strategy has a slightly longer time frame and remains SHORT the QQQQs.
Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.
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.
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