Shares of Semiconductor HOLDRS (NYSE: SMH) Near Breakout Says Market Timer Frank Kollar
March 18, 2009 (FinancialWire) (By Frank Kollar)
Shares of Semiconductor HOLDRS (NYSE: SMH) have been rising slowly from their bear market lows in November 2008.
Semiconductor HOLDRS are testing their recent short term highs, at around $19.00 a share in this current rally.
If Semiconductor HOLDRS can close above $19.16 a share, it will constitute a breakout and new highs since its November 20 bear market lows.
There is huge upside potential for this widely traded ETF. Short term targets are at $23.96 and then $26.17, some 30% and 42% above current levels.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in Semiconductor HOLDRS.
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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