Do Or Die For StreetTRACKS Gold Shares (NYSE: GLD) Says Market Timer Frank Kollar
March 6, 2007
Shares of exchange-traded fund StreetTRACKS Gold Shares (NYSE: GLD) fell another 1.2% in Monday’s trading, extending this volatile ETF’s losses to 7.5% since its 2007 highs were reached only one week ago.
Gold Shares are intended to offer investors a means of participating in the gold bullion market without the necessity of taking physical delivery of gold. The current decline in Gold Shares has placed it right at a critical support level at $63.00 a share that, if decisively broken in coming days, would likely result in an escalation of losses to at least the $60.00 level.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds positions in major Exchange Traded Funds that are heavily traded and currently trending well.
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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does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
