Jones Apparel (JNY) NewsBite - JNY Continues Pullback From 52-Week High

Posted: Tuesday, November 17, 2009 1:49 PM EDT

Jones Apparel (NYSE: JNY) opened at $18.94. So far today, the stock has hit a low of $17.92 and a high of $18.94. JNY is now trading at $18.10, down $0.97 (-5.09%). Over the last 52 weeks the stock has ranged from a low of $2.34 to a high of $19.74. JNY is continuing its pullback from a new 52-week high last week, as investors take profits on the stock after it rose from a 2009 low below $3 set in March. Technical indicators for the stock are neutral and S&P gives JNY a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on JNY the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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