Market Vectors - Steel ETF (SLX) 11/20/09 PriceWatch Alert Technicals Showing Bullish
Posted: Friday, November 20, 2009 8:26 AM EDT
By: Market Intelligence Center Staff
Market Vectors - Steel ETF (PCX: SLX) closed yesterday at $58.29. So far SLX has hit a 52-week low of $20.19 and 52-week high of $60.19. SLX has been showing support around 56.58 and resistance in the 59.34 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 58 covered call (EZN CF) for a net debit in the $54.09 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 7.21% downside protection and a 7.23% assigned return rate for a 21.99% annualized return rate (comparison purposes only). [FBB-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).