Ishares Lehman 20yr (NYSE: TLT) Drifts Sideways Says Market Timer Frank Kollar
April 14, 2009 (FinancialWire) (By Frank Kollar)
Shares of the ETF Ishares Lehman 20 Year (NYSE: TLT) have remained mired in a sideways trading pattern since early February, 2009, with highs around $105 and lows around $102.
The few attempts to break above or below these levels have all quickly pulled back to the trading range. How long can TLT continue to move sideways? Not much longer we believe.
Traders are watching for definitive signs of a bottom in the economic downturn, or signs that another leg down has begun.
We are still holding onto a bearish position and expect to see TLT break to the downside before much longer.
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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