New Rally in Ishares Lehman 20yr (NYSE: TLT)? Asks Says Market Timer Frank Kollar
February 18, 2009 (FinancialWire) (By Frank Kollar)
Shares of the ETF Ishares Lehman 20 Year (NYSE: TLT) rallied over 3% in a single trading session on Tuesday, February 17. Is this the start of a new advance? Or is it just a one day wonder?
The rally occurred after TLT reached strong support at $102 a share. It also rebounded from this level last week. Rebounds from support are to be expected.
Plus TLT is benefiting from a rush to the relative safety of the fixed income markets as the stock market sells off. Stocks were down some 4% on Tuesday.
We expect this to be a short term event. We could move higher from here for several days, but will return to the larger bearish trend in short order. A close above $110 a share would add evidence that a long term advance was in progress.
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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