Huge decline For Ishares Lehman 20 Yr (AMEX: TLT) Says Market Timer Frank Kollar
June 11, 2007 (FinancialWire) (By Frank Kollar)
Exchange-traded fund Ishares Lehman 20 Yr (AMEX: TLT) took a huge drop last week, closing far below critical support at $83.80. What happens next?
The close below support indicates further declines in coming days. We expect TLT to reach $82.65 in short order, but expect buyers to stop this sell off at that level. $82.65 is the correction closing low from back in May 2006 and should offer strong support.
If TLT closes below 82.65, the next support level is all the way down at $81.00.
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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