New Highs For Utilities HOLDRS (AMEX: UTH) Says Market Timer Frank Kollar
August 30, 2006 (FinancialWire) (By Frank Kollar)
Shares of the exchange-traded fund Utilities HOLDRs (AMEX: UTH) continue to make new multi-year highs on almost a daily basis.
Utilities HOLDRs allows investors to trade a basket of utilities stocks including such powerhouses as: Duke Energy Corporation (NYSE: DUK), Exelon Corp (NYSE: EXC) and Southern Company (NYSE: SO).
Shares of Utilities HOLDRs have now gained almost 16% since their correction lows back on April 13, 2006. Our first target for this rally is $127.63. Utilities HOLDRs may reach this within days. If this widely traded ETF closes above $127.63, we will then be looking for shares to reach $132.92 before expected consolidation slows things down for a short while.
Utilities HOLDRs remains a BUY in the Fibtimer.com (http://www.fibtimer.com) ETF Timer Portfolio as it has been since early June 2006.
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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