iShares S&P MidCap 400 Index Fund (IJH) PriceWatch Alert Technicals Showing Bullish

Posted: Monday, July 06, 2009 8:07 AM EDT

iShares S&P MidCap 400 Index Fund (PCX: IJH) closed yesterday at $56.63. So far IJH has hit a 52-week low of $39.80 and 52-week high of $84.98. IJH has been showing support around 55.90 and resistance in the 57.80 range. Technical indicators are Bullish. IJH appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Nov '09 56 covered call (IGH KD) for a net debit in the $52.23 area. That is also the break even stock price for this trade. This covered call has a 138 day duration, provides 7.77% downside protection and a 7.22% assigned return rate for a 19.09% 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]

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