Still Bearish On Internet HOLDRs (AMEX: HHH) Says Market Timer Frank Kollar.

June 15, 2006 (FinancialWire) (By Frank Kollar)

Shares of the exchange-traded fund Internet HOLDRs (AMEX: HHH), containing widely traded Internet companies: eBay Inc. (NASDAQ: EBAY), Yahoo! Inc. (NASDAQ: YHOO) and Amazon.com, Inc. (NASDAQ: AMZN), closed with a loss Wednesday even though the stock market rallied and the Dow Jones Industrial Average (DJIA) realized with a triple digit gain.

Wednesday’s close at $50.48 is also lower than the prior correction lows reached on May 18 th. This close below an obvious support level adds weight to a continued bearish scenario for this ETF in coming weeks. If the decline in shares of Internet HOLDRs is not over, as we believe, shares could reach $44.60 in coming weeks. This is a 50% retracement of the entire October 2005 to May 2006 rally in Internet HOLDRs.

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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