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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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  • Any Upside Left for Powershares QQQ Trust (NASDAQ: QQQQ)? 0 comments
    Dec 1, 2009 7:40 PM | about stocks: QQQ

    December 2, 2009

    Shares of the ETF Powershares QQQ Trust (NASDAQ: QQQQ) made their last new rally high back on November 16. Since then they have not lost much ground, but they have also not been able to mount a sustained rally.

    Is there any upside potential left for the Nasdaq 100 Q’s?

    Assuming the prior closing highs at $44.60 can be surpassed in coming days there is still little upside potential for the Q’s. The target for a new high would be at $45.78, only about 4% above Tuesday’s close at $44.01.

    If you have a long position, hold it. But new positions have little potential unless the target at $45.78 is surpassed. That would, of course, change the picture.

    The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in the Powershares QQQ Trust.

    Stocks: QQQ
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