Oil Service Holders (AMEX: OIH) Breaks Out Says Market Timer Frank Kollar
June 15, 2007 (FinancialWire) (By Frank Kollar)
Oil stocks have broken out above their previous May 2007 rally highs. This new high will likely be followed by higher highs in coming days and weeks.
To trade this breakout, consider the ETF Oil Service Holders (AMEX: OIH). With Thursday’s close at $175.35 for the OIH, we are looking for an extended rally to the $201.00 level. A close above $183.77 in coming days would confirm the $201 level as the target for this advance.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in Oil Service Holders .
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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