Ishares S&P Europe 350 (AMEX: IEV) Aims At New All Time High Says Market Timer Frank Kollar
September 5, 2006 (FinancialWire) (By Frank Kollar)
Ishares S&P Europe 350 (AMEX: IEV), with top holdings in BP Plc (NYSE: BP), HSBC Holdings Plc (NYSE: HBC), and Vodafone Group Plc (NYSE: VOD), has seen strong gains since reversing from its 2006 correction lows in June. Ishares S&P Europe 350 is up 16% since June 13 th.
Shares of Ishares S&P Europe 350 are only a fraction away from new all time highs as of last Friday’s close. Our expectation is for the rally in this widely traded ETF not only to continue, but also to advance at an accelerated pace in coming weeks.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy uses price to determine trend and take long or short positions accordingly. If Ishares S&P Europe 350 makes a decisive close above $96.52 in coming days (Friday’s close was at $96.44) we will be looking at $100.11 as the next target for this rally.
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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