Semiconductors HOLDRS (NYSE: SMH) Scores
Big Says Market Timer Frank Kollar
December 22, 2009 (FinancialWire) (By Frank Kollar)
Shares for the Semiconductors HOLDRS ETF (NYSE: SMH) reached
their pre-bear market highs in 2007, before declining from
their $39 high, down to below $15 a share at their bear
market lows. Their recovery in 2009 has now reached almost
to the 50% retracement level.
Typically the 50% retracement acts as strong resistance
and if decisively surpassed, acts as a springboard to the
next resistance level at 61.8%.
For SMH, the 50% retracement is at $27.93. SMH gapped
higher on Monday, December 21 to close at $27.62, just
1% shy of this level.
If SMH can close above $27.93 in coming days, look for
a continued rally to $31.11, the 61.8% retracement level,
some 12.6% higher.
The Fibtimer.com (http://www.fibtimer.com)
ETF Timing Strategy holds a position in the Semiconductors
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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