Market Vectors - Steel ETF (SLX) 11/12/09 PriceWatch Alert Technicals Showing Bullish
Posted: Thursday, November 12, 2009 8:11 AM EDT
By: Market Intelligence Center Staff
Market Vectors - Steel ETF (PCX: SLX) closed yesterday at $56.87. So far SLX has hit a 52-week low of $20.19 and 52-week high of $59.62. SLX has been showing support around 55.79 and resistance in the 58.41 range. Technical indicators are Bullish. SLX appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 56 covered call (EZN CD) for a net debit in the $51.37 area. That is also the break even stock price for this trade. This covered call has a 128 day duration, provides 9.67% downside protection and a 9.01% assigned return rate for a 25.70% annualized return rate (comparison purposes only). [THA-Seven Summits Research]
CLICK HERE: FREE Market Vectors Steel Index Fund (SLX) Stock ReportSee what our analysts have uncovered about Market Vectors Steel Index Fund (SLX).