Seeking Alpha

TimerFrank's  Instablog

Send Message
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
My blog:
Market Timing Pro
View TimerFrank's Instablogs on:
  • AmerisourceBergen Corp (NYSE: ABC) Still in Uptrend

    May 20, 2010

    Shares of AmerisourceBergen Corp (NYSE: ABC) continue to move high even while the stock market is in the midst of a correction.

    Though AmerisourceBergen did suffer intra-day declines during the computer generated mini-crash two weeks ago, it regained all the lost ground in two days, while the rest of the stock market did not and many stocks are now closing in on those mini-crash lows.

    Over the past five trading days, AmerisourceBergen reached $32.00 intra-day before pulling back to close slightly lower. $32.00 would be an all time closing high for this stock, and considering the health of the stock market at this time, quite an accomplishment for AmerisourceBergen.

    Look for a close above $32.00 a share in coming days to signal a new move higher. If the new high is not reached soon, AmerisourceBergen should weather any upcoming market instability quite well with strong support at about $30.50 a share.

    Disclosure: The ( Stock Timing Strategy holds a position in AmerisourceBergen.
    May 19 5:27 PM | Link | Comment!
  • Dell Inc (NASDAQ: DELL) Breaks Support

    May 19, 2010

    Shares of Dell Inc (NASDAQ: DELL) had a strong rally from early March to late April, gaining 27%, but after reaching new 2010 highs on April 23, share prices have suffered substantial declines, losing 14.3% in only three weeks.

    During the mini-crash two weeks ago, Dell traded below support, but quickly rebounded and because of the circumstances, we did not see it as a violation of support.

    But on Tuesday, May 18, Dell again broke below, and closed below, its 50% retracement of the strong March to April rally. This forecasts lower lows ahead.

    Dell has one short-term support level left at $14.57, the 61.8% retracement of the March to April rally. This level was also broken intra-day in the mini-crash. If Dell can hold and rally at or above this level we could see gains or at least a period of consolidation, but if Dell breaks below the $14.57 level, it could end up testing the March lows in coming months.

    Those March lows are near the $13.00 level.

    Disclosure: The ( Stock Timing Strategy holds a position in Dell Inc.
    May 18 5:01 PM | Link | Comment!
  • Shares of Biotech HOLDRS (AMEX: BBH) at Support

    May 18, 2010

    Shares of the ETF Biotech HOLDRS (AMEX: BBH) have reached support levels that may lead to higher highs in coming weeks.

    Biotech HOLDRS closed at $92.67 on Monday, May 17, after reaching $91.18 intra-day. This intra-day low is the 50% retracement of the entire March 2009 to March 2010 advance.

    On May 6 and May 7, the mini-crash days of two weeks ago, the intra-day lows were below this support level but on both days Biotech HOLDRS was able to rally and close above it.

    Considering current market conditions, with high volatility each day, this trade has increased risk, but with a buy stop below $88.00, the 61.8% retracement support level, to manage risk on the downside, this is trade with bullish potential.

    On the upside, Biotech HOLDRS could reach $98.58 to $100.71 a share in a short-covering rally. Any rally though could have a limited time-frame as the stock market in general may have more downside ahead.

    Disclosure: The ( ETF Timing Strategy holds a position in Biotech HOLDRS.
    May 17 5:19 PM | Link | Comment!
Full index of posts »
Latest Followers


More »

Latest Comments

Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.