Ishares Lehman 20yr (NYSE: TLT) Nears
Strong Support Says Market Timer Frank Kollar
December 31, 2009 (FinancialWire) (By Frank Kollar)
Shares of the ETF Ishares Lehman 20 Year (NYSE: TLT)
have been declining since reaching the $100 level back
in October. They are closing in on a very strong support
level.
The $88.00 level has held as support for TLT since early
2008. In June 2008 TLT tested this level and then reversed
to the upside, launching a powerful rally.
Again in June 2009 the $88.00 level held as TLT ended
a steep decline from over $120.00 a share.
Now TLT is again moving lower and reached the $89.20
level before moving higher on December 29 and 30.
TLT could be ready to launch a long term advance from
its current level as long as the $88.00 support level holds.
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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but there is no guarantee that future results will be profitable. |
