Ishares Lehman 20yr (NYSE: TLT) Declines to Critical Level Says Market Timer Frank Kollar
February 5, 2009 (FinancialWire) (By Frank Kollar)
Shares of the ETF Ishares Lehman 20 Year (NYSE: TLT) dropped again on Wednesday, February 4, closing at $102.52.
The correction for TLT is just a fraction above critical Fib support at the $101.95 level. This is the 61.8% retracement level for the entire November-December rally. We will be looking for profit taking here and possibly a short term reversal.
Should TLT break decisively below this support, we will expect it to make a run for the $95.00 level.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in TLT.
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.
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.
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