iShares S&P GSSI Natural Resources Index (IGE) 11/13/09 PriceWatch Alert Technicals Showing Bullish
Posted: Friday, November 13, 2009 8:17 AM EDT
By: Market Intelligence Center Staff
iShares S&P GSSI Natural Resources Index (PCX: IGE) closed yesterday at $33.93. So far IGE has hit a 52-week low of $20.02 and 52-week high of $36.18. IGE has been showing support around 33.16 and resistance in the 35.08 range. Technical indicators are Bullish. IGE appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 34 covered call (IGE AH) for a net debit in the $32.58 area. That is also the break even stock price for this trade. This covered call has a 64 day duration, provides 3.98% downside protection and a 4.36% assigned return rate for a 24.86% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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