Turning the Corner - Telecom HOLDRs Trust (TTH)

On July 25th I posted a message about the Telcom sector, namely Telecom HOLDRs Trust (TTH) Exchange Traded Fund, and I mentioned that I was looking for funds that were out of favor and may be headed for a long term move up. The chart on the right shows how the fund did indeed break above 30 and appears to be headed higher. This morning on Bloomberg, there was a Merrill Lynch analyst that said Telecoms are so out of favor that they are where steel was a few years ago. Looking at a chart of United States Steel USX (Ticker: X) steel rallied seven fold from three years ago. I like getting into a long term uptrend like that. My initial buy of Telecom HOLDRs Trust (TTH) is up 5.89% but the chart is telling me the move is just starting.