Bullish Reversal For Ishares Russell 2000 (AMEX: IWM) Says Market Timer Frank Kollar
June 28, 2007 (FinancialWire) (By Frank Kollar)
Shares of exchange-traded fund Ishares Russell 2000 (AMEX: IWM) had a huge rally on Wednesday. Ishares Russell 2000, with positions in such heavily traded stocks as Plains Exploration & Production Company (NYSE: PXP), Joy Global Inc (NASDAQ: JOYG) and Crown Holdings (NYSE: CCK), has been the weak link in the current market, but on Wednesday, it had a bullish outside reversal day. A very bullish indicator.
Ishares Russell 2000, which closed Wednesday at $83.59, had intra-day lows below the prior days trading range, intra-day highs above the prior day’s trading range, and a close at the day’s highs as well as above the prior five day’s closing highs.
Look for higher highs and a run for Ishares Russell 2000’s rally highs in coming days and weeks.
Fibtimer.com (http://www.fibtimer.com) also holds a position in Ishares Russell 2000 in its ETF Timer Portfolio.
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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