iShares COMEX Gold Trust (IAU) 2/9/10 PriceWatch Alert Technicals Showing Bearish
Posted: Tuesday, February 09, 2010 8:32 AM EDT
By: Market Intelligence Center Staff
iShares COMEX Gold Trust (PACF: IAU) closed yesterday at $104.10. So far IAU has hit a 52-week low of $85.02 and 52-week high of $119.58. IAU has been showing support around 103.33 and resistance in the 105.57 range. Technical indicators are Bearish. IAU appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at an Apr '10 100 covered call for a net debit in the $97.60 area. That is also the break even stock price for this trade. This covered call has a 67 day duration, provides 6.24% downside protection and a 2.46% assigned return rate for a 13.40% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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