Harley Davidson (HOG) NewsBite - HOG Falls on Market Selloff

Posted: Friday, October 02, 2009 10:03 AM EDT

Harley Davidson (NYSE: HOG) opened at $21.29. So far today, the stock has hit a low of $20.76 and a high of $21.29. HOG is now trading at $20.91, down $0.83 (-3.82%). Over the last 52 weeks the stock has ranged from a low of $7.99 to a high of $36.68. Shares of HOG are trading lower with the broader market this morning after a dismal jobs report moved investors to take more profits on the market's six-month rally. The Labor Department reported this morning that the economy shed 230,000 jobs in September, far more than analysts' forecasts, as the unemployment rate rose to 9.8 percent. Technical indicators for the stock are bearish and S&P gives HOG a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on HOG the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 26 range. [ABR-Seven Summits Strategic Investments NewsBite]

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