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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Market Vectors Biotech (NYSE: BBH) Headed Higher? 0 comments
    Mar 27, 2013 1:53 PM | about stocks: BBH

    March 28, 2013 (by Frank Kollar)

    After rising from $53.00 in early January, Market Vectors Biotech (NYSE: BBH) hit a new closing high on March 15th at $63.20.

    The following day the widely traded ETF suffered a bearish outside reversal day and two day later reached an intra-day correction low of $61.35.

    BBH has been erasing those losses, modest though they were, in the seven trading days since. The ETF is now trading only a fraction below its March 15th intra-day high at $63.36.

    As this analysis was being written, BBH was trading at $63.20.


    Chart Courtesy of StockCharts.com

    BBH has a good chance of posting a new high during the next few sessions. If it can close above $64.00 a share. look for a breakout rally over coming weeks.

    There is no target that we can see as the ETF is at new highs. We would set a 5% trailing stop if this trade is taken.

    The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy does have a current position in Market Vectors Biotech.

    Disclosure: I am long BBH. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

    Stocks: BBH
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