Ishares Lehman 20yr (NYSE: TLT) Again Testing Lows Says Market Timer Frank Kollar
March 11, 2009 (FinancialWire) (By Frank Kollar)
Shares of the ETF Ishares Lehman 20 Year (NYSE: TLT) are again testing support levels that have held declines in check since early February.
A week ago we wrote; “…the last four short term rallies have all ended in lower highs, pointing to a likely break below the $102 support level, and then lower lows in coming weeks.”
While the stock market rallied some 6% on Tuesday, March 10, bonds declined dramatically and TLT closed at $101.66, breaking and closing just below support. Continued declines from here are likely, with a test of TLT’s November levels at $95 a share in the crosshairs.
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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