iShares S&P SmallCap 600 Index Fund (IJR) 11/6/09 PriceWatch Alert Shows Bearish Technicals

Posted: Friday, November 06, 2009 8:40 AM EDT

iShares S&P SmallCap 600 Index Fund (PCX: IJR) closed yesterday at $50.79. So far IJR has hit a 52-week low of $29.92 and 52-week high of $54.56. IJR has been showing support around 49.26 and resistance in the 51.64 range. Technical indicators are Bearish. IJR appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 50 covered call (IJO BX) for a net debit in the $47.69 area. That is also the break even stock price for this trade. This covered call has a 106 day duration, provides 6.10% downside protection and a 4.84% assigned return rate for a 16.68% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]

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