New All-Time Highs For Utilities HOLDRS (AMEX: UTH) Says Market Timer Frank Kollar
April 24, 2007
Shares of the exchange-traded fund Utilities HOLDRs (AMEX: UTH) , which allows investors to trade a basket of utilities stocks including such powerhouses as: Duke Energy Corporation (NYSE: DUK), Exelon Corp (NYSE: EXC) and Southern Company (NYSE: SO), have again made new multi-year highs with Monday’s close at $148.28.
Back in February 2007 we said Utilities HOLDRs was headed for at least $139.10 a share. We are well above that target now. What can traders expect over coming weeks?
A few weeks ago Utilities HOLDRs broke out above a major long-term resistance level at $141.00. A breakout above resistance calls for a run to the next resistance level, in this case $165.85, over coming weeks or months.
The Fibtimer.com (http://www.fibtimer.com) ETF Timer Portfolio has a position in Utilities HOLDRs.
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.
Go to previous Trading Notes.
Note: These "Trading Notes" are short term in nature. They may or may not reflect the same position as current subscriber reports which typically have longer time frames.
© Copyright 1996-2007, Kollar Market Analytics, Inc., All Rights Reserved.
FibTimer reports may not be redistributed without permission. These Trading Notes however may be distributed without permission.
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. |
