Semiconductor HLDRS (AMEX: SMH) Near Breakout Says Market Timer Frank Kollar
March 12, 2008 (FinancialWire) (By Frank Kollar)
A week ago we wrote that aggressive traders should consider shares of Semiconductor HLDRS (AMEX: SMH) based on the potential of a bottom being in place since the January panic lows.
Semiconductor HLDRS has moved higher since and on Tuesday closed at $29.27. A close above $29.62 a share will put Semiconductor HLDRS above a declining trend resistance level and will constitute a breakout for the volatile ETF.
Semiconductor HLDRS has a great deal of potential for a sustained advance with initial resistance being all the way up at $33.95. That is a lot of room on the upside for bullish traders.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy may hold a position in Semiconductor HLDRS .
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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