Lower Lows For The Dollar? Asks Market Timer Frank Kollar
October 26, 2007 (FinancialWire) (By Frank Kollar)
The U.S. Dollar is collapsing and has broken several support levels over the past month, with this week’s lows breaking below what many traders thought would be the end of the declines, reached back on September 28th.
The dollar reached a critical support level at Thursday’s close and if it is broken, we could see another leg down over coming weeks. The current downtrend has already dropped further than most traders expected, but trends usually go further than anyone thinks they will.
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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