More Gains Ahead For Internet HOLDRs (AMEX: HHH) Says Market Timer Frank Kollar
May 8, 2007 (FinancialWire) (By Frank Kollar)
Shares of the exchange-traded-fund Internet HOLDRs (AMEX: HHH) gapped up at last Friday’s open and closed with a substantial gain. Internet HOLDRs contains such widely traded Internet companies as: eBay Inc. (NASDAQ: EBAY), Yahoo! Inc. (NASDAQ: YHOO) and Amazon.com, Inc. (NASDAQ: AMZN). What is next for this heavily traded ETF?
On Monday Internet HOLDRs pulled back a bit but what is important is last week’s decisive close above Fib 61.8% resistance at $60.45 a share. Look for higher prices in coming weeks and a run to at least the next resistance level at $64.95 a share.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in Internet 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.
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