UltraShort Russell2000 ProShares (TWM) 11/11/09 PriceWatch Alert Shows Bearish Technicals
Posted: Wednesday, November 11, 2009 8:32 AM EDT
By: Market Intelligence Center Staff
UltraShort Russell2000 ProShares (PCX: TWM) closed yesterday at $29.21. So far TWM has hit a 52-week low of $26.36 and 52-week high of $180.64. TWM has been showing support around 28.01 and resistance in the 30.25 range. Technical indicators are Bearish. TWM appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 26 covered call (TVF AZ) for a net debit in the $24.81 area. That is also the break even stock price for this trade. This covered call has a 66 day duration, provides 15.06% downside protection and a 4.80% assigned return rate for a 26.53% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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