Sell Off For Ishares Lehman 20 Yr (AMEX: TLT) Says Market Timer Frank Kollar
May 24, 2007
(FinancialWire) (By Frank Kollar)
Exchange-traded fund Ishares Lehman 20 Yr (AMEX: TLT) closed below a critical support level on Wednesday. The prior correction lows, reached back on January 29 th, were expected by many traders to stop the sell off in bonds, but that was not the case. What happens next?
The close below support indicates further declines in coming days. We expect TLT to reach $86.06 in short order. Should TLT make a decisive close below $86.06, it will open the door to even steeper declines, as low as $84.50, before the next support level is reached.
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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