iShares S&P GSSI Natural Resources Index (IGE) 11/17/09 PriceWatch Alert Shows Bullish Technicals
Posted: Tuesday, November 17, 2009 8:32 AM EDT
By: Market Intelligence Center Staff
iShares S&P GSSI Natural Resources Index (PCX: IGE) closed yesterday at $35.07. 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 34.29 and resistance in the 35.71 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 36 covered call (IGE AJ) for a net debit in the $34.07 area. That is also the break even stock price for this trade. This covered call has a 60 day duration, provides 2.85% downside protection and a 5.66% assigned return rate for a 34.46% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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