Oil Service HOLDRS (AMEX: OIH) Buy Signal Says Market Timing Pro Frank Kollar
August 30, 2007 (FinancialWire) (By Frank Kollar)
Exchange traded Fund Oil Service HOLDRS (AMEX: OIH) confirmed a new bullish trend late last week, and with Wednesday’s rally, has moved higher for this week.
OIH was not pummeled in the selling on Monday and especially Tuesday of this week when the DJIA lost almost 300 points. On Wednesday, OIH rallied and wiped out not only the prior two day’s losses, but also closed higher than last week’s highs.
OIH is now right at resistance at $177.00 a share. A close above this level will forecast a run to at least $183.38 in coming days.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy has a position in OIH .
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.
Go to previous Press Releases & Trading Notes.
Note: These "Trading Notes" are short term in nature. They may or may not reflect the same position as current subscriber reports which typically have longer time frames.
© Copyright 1996-2007, Kollar Market Analytics, Inc., All Rights Reserved.
FibTimer reports may not be redistributed without permission. These Trading Notes however may be distributed without permission.
Disclaimer: The financial markets are risky. Investing is risky. Past performance
does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
