Lower Lows for Adobe Systems (NASDAQ: ADBE) Says Market Timer Frank Kollar
July 26, 2006 (FinancialWire) (By Frank Kollar)
Shares of Adobe Systems Incorporated (NASDAQ: ADBE), who’s products deliver graphic design, publishing, and imaging software for print, web, and video production , are headed lower. Several week’s ago we wrote that if shares broke below $29.00, there would be little to keep shares from declining further.
Shares are now far below that level, closing Tuesday at $27.22. Where to next? Adobe’s August 2005 correction lows at $25.91 are the next logical support for this volatile technology stock. Shares of Adobe could easily reach this level in coming days.
Fibtimer.com (http://www.fibtimer.com) currently lists Adobe as a short position in its Stock Timing Portfolio. If Adobe reverses at $25.91, it could have a nice trading rally. If it closes decisively below this level, it will likely decline considerably lower over coming weeks and months.
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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