Shares of Semiconductor HOLDRS Near Breakout, Says Market Timer Frank Kollar
Semiconductor HOLDRS are testing their recent short term highs, at around $19.00 a share in this current rally. If Semiconductor HOLDRS can close above $19.16 a share, it will constitute a breakout and new highs since its November 20 bear market lows.
There is huge upside potential for this widely traded ETF. Short term targets are at $23.96 and then $26.17, some 30% and 42% above current levels.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in Semiconductor HOLDRS.
Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.
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.
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.
FinancialWire" ( http://www.financialwire.net ), an independent, proprietary news service of Investrend Communications, Inc., receives no compensation for its news or opinions. Further disclosure is at http://www.investrend.com/articles/secondlevel.asp?level=472 . To contact FinancialWire" write to inquiries@financialwire.net .
Free annual reports for companies mentioned in the news are accessible via http://investrend.ar.wilink.com/?level=279 .
Copyright(C)2009 by financialwire.net, Inc. All rights reserved.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
