Shares of Ishares Lehman 20yr (NYSE: TLT) At Critical Support Says Market Timer Frank Kollar
February 27, 2008 (FinancialWire) (By Frank Kollar)
Shares of the exchange-traded fund Ishares Lehman 20yr (NYSE: TLT) have been headed lower, along with the sell off in bond prices, since reaching new rally highs on January 23.
Back on Thursday, February 7, TLT hit critical support at its intra-day lows and reversed to the upside. Critical support is at about $90.00 to $90.50 a share. TLT has now touched critical support several additional times over the past two weeks and so far support has held.
This support level was also reached back in December 2007. Twice support held and the second time TLT rebounded and began a new rally.
Should this support fail, we could see an escalation in the declines. Watch $90.00 to $90.50 for a rebound. If we do not get it, watch out below.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in the TLT.
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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