Direxion Daily Energy Bull 3X Shares (ERX) 2/9/10 PriceWatch Alert Technicals Showing Bearish
Posted: Tuesday, February 09, 2010 8:29 AM EDT
By: Market Intelligence Center Staff
Direxion Daily Energy Bull 3X Shares (PACF: ERX) closed yesterday at $32.65. So far ERX has hit a 52-week low of $16.23 and 52-week high of $54.54. ERX has been showing support around 31.24 and resistance in the 35.36 range. Technical indicators are Bearish. ERX appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 26 covered call for a net debit in the $24.55 area. That is also the break even stock price for this trade. This covered call has a 67 day duration, provides 24.81% downside protection and a 5.91% assigned return rate for a 32.18% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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