Telecom HOLDRS (TTH) PriceWatch Alert Support Down To $29.40

Posted on Wednesday, July 09, 2008 8:07 AM

Telecom HOLDRS (AMEX: TTH) closed yesterday at $30.17. So far TTH has hit a 52-week low of $28.64 and 52-week high of $41.99. TTH has been showing support around 29.40 and resistance in the 30.58 range. Technical indicators are Bearish. TTH appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Nov '08 30 covered call (TTH KF) for a net debit in the $28.47 area. That is also the break even stock price for this trade. This covered call has a 136 day duration, provides 5.63% downside protection and a 5.37% assigned return rate for a 14.42% annualized return rate (comparison purposes only). [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]