Semiconductor HOLDRs (NYSE: SMH) Tests Critical Support Says Market Timer Frank Kollar
July 1, 2010 (FinancialWire) (By Frank Kollar)
Shares of the ETF Semiconductor HOLDRs (NYSE: SMH) are,
for the fourth time in only two months, testing correction
lows that could signal the start of a new decline to lower
lows if broken.
The intra-day lows for Semiconductor HOLDRs have reached
to just below $26.00 a share. On Wednesday, June 30, they
closed at $25.92. Right at the precipice.
Each of the previous three time Semiconductor HOLDRs was
down this low, a rally followed. Will that be the case
this time?
The downside is that each of those rallies reached about
$28 a share and failed. That is not a lot of room for trading
and it could also mean there are few buys left after so
many rally failures.
If we close lower than $25.92 in coming days, we would
be looking for a continued decline to at least $25.00 a
share, the February 2010 correction lows.
The Fibtimer.com (http://www.fibtimer.com)
ETF Timing Strategy holds a position in the Semiconductor
HOLDRs.
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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