AmerisourceBergen Inc (NYSE: ABC) Holds Near Highs Says Market Timer Frank Kollar
June 2, 2010 (FinancialWire) (By Frank Kollar)
Shares of AmerisourceBergen Inc (NYSE: ABC) are holding
up exceedingly well in a very weak stock market.
As of the close on Monday, June 1, the S&P 500 Index
(SPX) had declined 12% from its closing 2010 high.
AmerisourceBergen on the other hand, is within a few percent
of its 2010 highs.
AmerisourceBergen closed Monday at $30.81. Its 2010 closing
high was $31.79 on May 12.
AmerisourceBergen may not have gained ground over the
past several weeks, but as the stock market declined, shares
of this blue chip company held their ground.
During times when the markets correct, share of companies
like AmerisourceBergen are insurance against losses. And
when the market turns around, shares of AmerisourceBergen
will outperform those of most of the beaten down companies.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy holds a position in AmerisourceBergen.
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. |
