Health Care Select SPDR (NYSE: XLV) Still Not a Buy Says Market Timer Frank Kollar
May 5, 2009 (FinancialWire) (By Frank Kollar)
Shares of the ETF Health Care Select SPDR (NYSE: XLV) continue to lag the rest of the stock market but are nearing levels that could spark a rally if reached.
XLV has been unable to push above $24.75 since reaching its bear market lows in early March.
XLV also has not closed below $23.20 in that time frame.
Sideways trading never lasts and when XLV breaks out, one way or the other, we are likely to see continued movement in the direction of the break.
We are watching for a close above $24.75 for XLV. If it occurs in coming days, we expect this ETF to make a run for its December-January highs around $27.00 a share.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in Health Care Select SPDRs.
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.
Go to previous Press Releases & Trading Notes.
Note: These Press Releases are short term in nature. They may or may not reflect the same position as current subscriber reports which typically have longer time frames.
© Copyright 1996-2009, Kollar Market Analytics, Inc., All Rights Reserved.
FibTimer reports may not be redistributed without permission. These Trading Notes however may be distributed without permission.
Disclaimer: The financial markets are risky. Investing is risky. Past performance
does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
