Monster Worldwide (MWW) Falls on Profit-Taking

Posted: Thursday, November 19, 2009 11:22 AM EDT

Monster Worldwide (NYSE: MWW) opened at $15.89. So far today, the stock has hit a low of $15.36 and a high of $16.15. MWW is now trading at $15.56, down $.73 (-4.48%). Over the last 52 weeks the stock has ranged from a low of $5.95 to a high of $19.28. MWW shares are falling a day after the stock picked up $1.08 (7.1%) on takeover rumors. It looks like the rumors have subsided this morning and traders are taking profits on the stock, which has risen from a low of 5.95 set in March. Technical indicators for the stock are bullish and S&P gives MWW a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on MWW the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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