Solid Advance for Oil Service HOLDRS (AMEX: OIH) Says Market Timer Frank Kollar
April 8, 2008 (FinancialWire) (By Frank Kollar)
Shares of Oil Service HOLDRS (AMEX: OIH) have held up of late, even on days when the stock market is weak.
Oil Service HOLDRS will reach strong resistance in shortly, at $193 to $194 a share. It touched this level on Monday, April 8, and pulled back. But the likelihood is that Oil Service HOLDRS will soon punch through this resistance.
The next target is the prior October 2007 rally highs at just over $200 a share. Above $204 a share is uncharted territory.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy may have a position in Oil Service HOLDRS.
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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