Internet ETF (HHH) Ready to Play Catch-up? - Mid-Day Minute for Fri October 13th 2006

Oct 13

Internet ETF (HHH) Ready to Play Catch-up?

by Mike Paulenoff, Fri October 13th, 2006

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Maybe the Internet sector will begin to participate in the overall Nasdaq upmove now -- - now that YHOO appears to have established a final corrective low at 23.57 this AM and has reversed into positive territory.

If that proves to be true, then the major drag (28%) from YHOO on the HHH has been lifted, which should enabled the ETF to play catch-up in a hurry. Based on the enclosed daily chart, a hurdle of 50.41/50 should trigger acceleration to 52.30/70 thereafter.

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Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!

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