Where To Next For The Powershares Nasdaq 100 (NASDAQ: QQQQ)? Asks Market Timer Frank Kollar
September 27, 2007 (FinancialWire) (By Frank Kollar)
Shares of the exchange trade fund Powershares Nasdaq 100 (NASDAQ: QQQQ) are at new rally and new 2007 highs after breaking out early this week.
The Q's may have considerable room to move higher based on Fib resistance levels. The first target is $52.36, about 2% above Wednesday’s close. A decisive close above this level would forecast a run all the way up to $54.53 in coming days and weeks, equaling a 6% rise.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in the Q's.
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. |
