CurrencyShares Mexican Peso Trust (FXM) 11/6/09 PriceWatch Alert Technicals Showing Bearish
Posted: Friday, November 06, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Mexican Peso Trust (PCX: FXM) closed yesterday at $75.18. So far FXM has hit a 52-week low of $64.29 and 52-week high of $78.51. FXM has been showing support around 74.59 and resistance in the 75.79 range. Technical indicators are Bearish. FXM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 76 covered call (FYZ CX) for a net debit in the $73.33 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 2.46% downside protection and a 3.64% assigned return rate for a 9.92% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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