Market Vectors - Steel ETF (SLX) 11/17/09 PriceWatch Alert Shows Bullish Technicals
Posted: Tuesday, November 17, 2009 8:30 AM EDT
By: Market Intelligence Center Staff
Market Vectors - Steel ETF (PCX: SLX) closed yesterday at $59.14. So far SLX has hit a 52-week low of $20.19 and 52-week high of $59.69. SLX has been showing support around 56.96 and resistance in the 60.78 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 59 covered call (EZN CG) for a net debit in the $54.34 area. That is also the break even stock price for this trade. This covered call has a 123 day duration, provides 8.12% downside protection and an 8.58% assigned return rate for a 25.45% annualized return rate (comparison purposes only). [ATU-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).