No Bottom In Sight For Shares Of Carnival Corp (NYSE: CCL) Says Market Timer Frank Kollar.

June 13, 2006 (FinancialWire) (By Frank Kollar)

Shares of Carnival Corp (NYSE: CCL), the cruise-ship operator, have declined 37% since their January 2006 highs. We have written about this company several times over the past few months, each time forecasting new lows. Carnival Corp has not disappointed us.

In May we said that Carnival share prices could drop as low as $39.68 in coming weeks and that a decisive close below that level would start an escalating decline that could reach $35.47. Carnival closed Monday at $36.41, just 2.5% above this level.

$35.47 is a critical Fib support level and should Carnival make another decisive close below it, we would be looking for this sell-off in Carnival’s shares to reach as low as $30.00 in the coming weeks. That is 17% below Monday’s close and 48% from Carnival’s January highs.

A weak stock market is not helping Carnival’s shares but remember that it has been declining since January 2006. Carnival’s problems, including hurricane season fears, decreased bookings and huge discount offers to try and recapture market share, started long before the current stock market decline.

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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