Direxion Daily Emrg Mkts Bull 3X Shares (EDC) 11/20/09 PriceWatch Alert Bullish Price Movement
Posted: Friday, November 20, 2009 8:47 AM EDT
By: Market Intelligence Center Staff
Direxion Daily Emrg Mkts Bull 3X Shares (PCX: EDC) closed yesterday at $149.01. So far EDC has hit a 52-week low of $18.00 and 52-week high of $165.00. EDC has been showing support around 141.03 and resistance in the 157.53 range. Technical indicators are Bullish. EDC appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jan '10 145 covered call (EYT AQ) for a net debit in the $129.21 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 13.29% downside protection and a 12.22% assigned return rate for a 78.25% annualized return rate (comparison purposes only). [FBB-Seven Summits Research]
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