Oil Service HOLDRS (AMEX: OIH) Reach December 2007 Highs Says Market Timer Frank Kollar
April 15, 2008 (FinancialWire) (By Frank Kollar)
Shares of Oil Service HOLDRS (AMEX: OIH) have reached highs not seen since last December 2007.
Should Oil Service HOLDRS close above $195.28 in coming days, a likely event; traders can look for a continued advance to the prior October 2007 highs.
The October 2007 highs, around $201 a share, define uncharted territory since they have never been surpassed. A decisive close above them would constitute a breakout for Oil Service HOLDRS and likely be the start of a new advance.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy has 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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