Ishares Lehman 20yr (NYSE: TLT) Nears Critical Support Says Market Timer Frank Kollar
March 10, 2009 (FinancialWire) (By Frank Kollar)
Shares of the ETF Ishares Lehman 20 Year (NYSE: TLT)
have traded sideways in 2010 after taking huge declines
in 2009. TLT is again approaching a critical support level.
That critical level is at about $88 a share. It has stopped
all declines in the last two years.
TLT seems to be constantly testing it of late with early
January and late February declines that all reversed at
the $88 level.
TLT is again nearing $88, closing on Tuesday March 9
at $89.82 after two weeks of declines from the $92 level.
The odds favor TLT reversing again from this support
level and rallying, though of late the $92 level has stopped
each attempt at moving higher so there is not much upside
to be expected.
Importantly, a decisive close below support would be
a huge break down for shares of TLT and should it occur,
shares could drop into the mid to low $80s quickly.
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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