Weakness In StreetTRACKS Gold Shares (NYSE: GLD) Says Market Timer Frank Kollar
June 26, 2007 (FinancialWire) (By Frank Kollar)
Shares of exchange-traded fund StreetTRACKS Gold Shares (NYSE: GLD) moved lower again on Monday, closing at $64.43 on Monday. What’s next for this widely traded ETF?
Watch the $64.00 level for a test of support. Should $64.00 be decisively broken to the downside in coming days, look for a fast decline to $63.00 level. This would be a critical support level with huge downside risk if it also fails to stop the selling.
The F ibTimer.com (http://www.fibtimer.com) ETF Strategy holds positions in ETFs that meet trending and liquidity guidelines.
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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