Breakout Rally For Ishares Lehman 20 Yr (AMEX: TLT) Says Market Timing Pro Frank Kollar
August 28, 2007 (FinancialWire) (By Frank Kollar)
Exchange-traded fund Ishares Lehman 20 Yr (AMEX: TLT) rallied through June and July but then topped out in early August. After a pull back, TLT rallied again and closed last week just below its early August highs.
On Monday, TLT gapped up at the open and made a decisive higher close above the prior late July rally highs as well as the Fib 61.8% retracement resistance level. TLT should run to at least 89.32 in coming days. If 89.32 is surpassed, we could see a run for the November 2006 rally highs.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy currently has a position in TLT.
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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