Nasdaq-100 Trust (NASDAQ: QQQQ) Pulls Back From New Highs Says Market Timer Frank Kollar

December 6, 2006 (FinancialWire) (By Frank Kollar)

The exchange-traded fund Nasdaq-100 Trust (NASDAQ: QQQQ) briefly traded at new 2006 highs on Tuesday, but then pulled back before the close to end the day at $44.42. Several months back we wrote, “…new 2006 highs for the Qs are only a matter of time.”

The current rally was not unexpected. Remember that on June 15, June 29 and July 19 the market had three huge rally days that had greater than 9 to 1 up/down volume on the NYSE. This is a rare event that has a solid history of predicting higher prices over the coming year.

The Qs closed at $44.46 two weeks ago. Now the Q’s need to close decisively above $45.42, about 2% higher than Tuesday’s close, to break above resistance. If they do, they will likely make a run for $48.11 over the coming weeks.

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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