New Lows For Ishares Lehman 20 Yr (AMEX: TLT) Says Market Timer Frank Kollar
April 16, 2007
Last week we were discussing a critical support level for the exchange-traded fund Ishares Lehman 20 Yr (AMEX: TLT). That support level, at 87.44, was broken in gap-down trading on April 9 th. On Friday April 13 th, TLT made a decisive, and quite bearish, close below this level at 87.12.
We are now looking for further declines in coming days. We expect TLT to reach $86.72, the previous early January 2007 correction lows, in short order. This is the do-or-die level for TLT. A close below $86.72 would change the outlook from a short-term correction, to a long term declining trend. The first support level in this potential declining trend is all the way down at $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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