S&P SPDRs (AMEX: SPY) Reverses From Support Says Market Timer Frank Kollar
August 16, 2007 (FinancialWire) (By Frank Kollar)
The stock market reversed from support on Thursday in a dramatic recovery from a Dow 340+ point intra-day loss. Is this the bottom?
The S&P SPDRs (AMEX: SPY) recovered from a low of $137.00 to close at $142.10. A huge intra-day swing. With volatility at seldom seen extremes, there is no way to be certain, but Thursday’s reversal was right at the prior correction lows made on March 14, 2007. The comeback was just as extreme as the selling and SPY actually closed in the plus column.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy has a position in SPY.
Follow your strategy and adhere to your money management rules to protect capital. If you do not have money management rules, give FibTimer.com (http://www.fibtimer.com) a call. The surest way to lose money in the stock market is to trade without a plan.
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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