Ishares Lehman 20 Yr (AMEX: TLT) Breaks Support Says Market Timer Frank Kollar
April 10, 2007
On Monday we wrote about exchange-traded fund Ishares Lehman 20 Yr (AMEX: TLT) because it was just above a critical support level. TLT gapped lower at the open Monday and closed at $87.21, well below the critical support level we were watching.
This close below support sets up further declines in coming days. We expect TLT to reach $86.72 in short order. Should TLT make a decisive close below $86.72, it will open the door to even steeper declines, as low as $84.50.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy currently has a position in TLT.
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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