New Highs For MidCap SPDR Trust (AMEX: MDY) Says Market Timer Frank Kollar
February 1, 2006 (FinancialWire) (By Frank Kollar)
Shares of exchange-traded fund MidCap SPDR Trust (AMEX: MDY) broke out to new rally highs Wednesday on heavy volume. Shares of MidCap SPDRs try to correspond to the S&P MidCap 400 Index and include such companies as Cognizant tech (NASDAQ: CTSH), Peabody Energy (NYSE: BTU) and Precision Castparts (NYSE: PCP).
Wednesday’s breakout should be followed by higher highs. Traders can expect $155.04 to be reached in coming days, and if that level is surpassed, MidCap SPDRs could reach $161.96 in coming weeks before a significant correction occurs.
Fibtimer.com (http://www.fibtimer.com) also holds a position in the MidCap SPDRs in its ETF Timing Portfolio.
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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