Ishares Lehman 20 Yr (AMEX: TLT) In Freefall Says Market Timer Frank Kollar
June 13, 2007 (FinancialWire) (By Frank Kollar)
Exchange-traded fund Ishares Lehman 20 Yr (AMEX: TLT) took another huge drop Tuesday, closing at $82.35, far below critical support at $83.80 and also below the prior correction lows from May 2004 at $82.65. What happens next?
The close below support indicates further declines in coming days. Only a week ago, we wrote that we expected TLT to reach $82.65 in short order. Doing so in such a short time frame likely means the selling is not over. The next support level, and new target for this decline, is at $81.31.
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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