Any Upside Left for Powershares QQQ
Trust (NASDAQ: QQQQ)? Asks Market Timer Frank Kollar
December 2, 2009 (FinancialWire) (By Frank Kollar)
Shares of the ETF Powershares QQQ Trust (NASDAQ: QQQQ)
made their last new rally high back on November 16. Since
then they have not lost much ground, but they have also
not been able to mount a sustained rally.
Is there any upside potential left for the Nasdaq 100
Q’s?
Assuming the prior closing highs at $44.60 can be surpassed
in coming days there is still little upside potential for
the Q’s. The target for a new high would be at $45.78,
only about 4% above Tuesday’s close at $44.01.
If you have a long position, hold it. But new positions
have little potential unless the target at $45.78 is surpassed.
That would, of course, change the picture.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy holds a position in the Powershares
QQQ Trust.
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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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. |
