Anadarko Petroleum (NYSE: APC) On Fire Says Market Timer Frank Kollar
May 8, 2008 (FinancialWire) (By Frank Kollar)
Shares of Anadarko Petroleum (NYSE: APC) have skyrocketed this week, adding some 16% in value in the last three days.
For traders who believe in buying new highs, Anadarko certainly has been a winner. But reality may catch up to stock performance soon, especially as Anadarko closes in on $80 a share.
Look for profit taking to trim some of these gains in coming days, and if Anadarko reaches $80 a share, a healthy correction. But with no end in sight for crude oil prices of coming months, continued new highs appear to be in the cards.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy has a position in Anadarko Petroleum .
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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