Utilities HOLDRS (AMEX: UTH) Beats Downtrend Says Market Timer Frank Kollar
June 19, 2008 (FinancialWire) (By Frank Kollar)
Shares of Utilities HOLDRS (AMEX: UTH) have not only held up well in the current stock market declines, but have pushed to within a fraction of their 2008 rally highs.
Utilities HOLDRS has gained ground while the stock market has sold off. Wednesday’s June 18 close at $135.53 is just below the prior May closing highs at $136.29. Considering the turmoil in the stock market, this is a solid performance.
If Utilities HOLDRS can close above $137.50 in coming days, look for a continued advance to test the old December 2007 closing highs at $141.63.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy has a position in Utilities 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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