Overstock.com (OSTK) NewsBite - OSTK Hurting From Economic Slowdown

Posted: Friday, June 26, 2009 2:06 PM EDT

Overstock.com (OSTK) was covered in a Bloomberg Video Report today and the stock is now at $12.02, down $0.15 (-1.23%) on volume of 122,914 shares traded. To see the video report go to http://www.marketintelligencecenter.com/VideoNews . Over the last 52 weeks the stock has ranged from a low of $6.34 to a high of $29.59. Overstock.com stock has been showing support around $11.50 and resistance in the $12.50 range. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for OSTK. If you are looking for a hedged play on OSTK the stock seems like it could be a candidate for an August out-of-the-money bear-call credit spread above the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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