How Much Higher Can Software HLDRs (AMEX: SWH) Go? Asks Market Timer Frank Kollar
June 5, 2007 (FinancialWire) (By Frank Kollar)
Shares of Software HLDRs (AMEX: SWH) have moved higher along with the rest of the stock market. But traders like to aim for targets, so that is what we have today.
Software HLDRs, closing Monday at $42.07, has an initial target of $42.59, the 1.27% retracement of the January-February 2007 decline. Should Software HLDRs close above $42.07, we will be looking for the advance to reach at least $44.01 in coming days and weeks.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy currently has a position in Software HLDRs.
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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