Buy Signal For The Nasdaq-100 Trust (NASDAQ: QQQQ) Says Market Timer Frank Kollar
March 22, 2007
The exchange-traded fund Nasdaq-100 Trust (NASDAQ: QQQQ) posted a huge gain in today’s market rally. Is this the start of a new leg up?
The Qs closed above a strong resistance level at 44.21, and that forecasts the next level, at $44.80, is likely to be reached in coming days. $44.80 is the critical level for the Qs. If they close above it, look for a run to the prior rally highs and possibly a new advance to new 2007 highs. A good sell stop would be just below the lows at about $42.00.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy currently has a position in the QQQQs.
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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Disclaimer: The financial markets are risky. Investing is risky. Past performance
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. |
