Playing the I fund

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New Highs For MSCI EAFE Index Fund (AMEX: EFA)
November 30, 2006

Exchange-traded fund MSCI EAFE Index Fund (AMEX: EFA) has been in rally mode since early June, rising some 22%. EFA seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the European, Australian and Far Eastern markets, as measured by the MSCI EAFE Index. The fund is widely traded by institutions as well as individual traders and is a favorite in retirement accounts. What’s next for this popular ETF?

EFA gapped at the open and traded to new highs on Wednesday. It also broke above a three-week ceiling at the $71.50 level. The next resistance level for EFA is at $73.70, only 2.2% above Wednesday’s close at $72.14 a share. If EFA makes a decisive close above this resistance level, it will likely reach at least $77.58 in coming weeks.

The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy currently has a position in the MSCI EAFE Index Fund .

http://timing.typepad.com/timer/
 
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