Bullish Reversal For Weyerhaeuser Co (NYSE: WY) Says Market Timer Frank Kollar
July 2, 2007 (FinancialWire) (By Frank Kollar)
Shares of Weyerhaeuser Co (NYSE: WY) had a huge intra-day sell off on Thursday, reaching just below $75.00 a share, the early April lows. What happens next?
The lows, at $74.66 a share were the bottom for Weyerhaeuser, which then rallied to close at $75.15 a share. The close was above the prior day’s highs and this is a wide ranging bullish outside reversal day for Weyerhaeuser. Considering the bottom that was at the April correction lows, Weyerhaeuser is a high odds candidate for a rally here.
Fibtimer.com (http://www.fibtimer.com) also holds a position in Ishares Weyerhaeuser in its Stock 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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