iShares S&P GSSI Natural Resources Index (IGE) 2/9/10 PriceWatch Alert Shows Bearish Technicals
Posted: Tuesday, February 09, 2010 8:40 AM EDT
By: Market Intelligence Center Staff
iShares S&P GSSI Natural Resources Index (PACF: IGE) closed yesterday at $31.59. So far IGE has hit a 52-week low of $20.11 and 52-week high of $36.86. IGE has been showing support around 31.03 and resistance in the 32.71 range. Technical indicators are Bearish. IGE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jul '10 32 covered call for a net debit in the $29.04 area. That is also the break even stock price for this trade. This covered call has a 158 day duration, provides 8.07% downside protection and a 10.19% assigned return rate for a 23.55% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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