Short QQQ ProShares (PSQ) 11/12/09 PriceWatch Alert Technicals Showing Bearish
Posted: Thursday, November 12, 2009 8:08 AM EDT
By: Market Intelligence Center Staff
Short QQQ ProShares (PCX: PSQ) closed yesterday at $45.83. So far PSQ has hit a 52-week low of $45.54 and 52-week high of $94.83. PSQ has been showing support around 45.28 and resistance in the 46.36 range. Technical indicators are Bearish. PSQ appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 45 covered call (PSQ AI) for a net debit in the $43.93 area. That is also the break even stock price for this trade. This covered call has a 65 day duration, provides 4.15% downside protection and a 2.44% assigned return rate for a 13.68% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
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