Option Investor
Newsletter

Daily Newsletter, Saturday, 12/5/2009

Table of Contents

  1. Leaps Trader Commentary
  2. Portfolio
  3. New Plays
  4. Play Updates
  5. Watch

Leaps Trader Commentary

Three Weeks To Go

by James Brown

Click here to email James Brown

I'll be honest with you. I'm a little bit surprised that the market didn't move more on Friday's jobs report. After watching the S&P 500 hover between the 1,080 and 1,110 zone for more than three weeks I really wanted to see a decisive move one way or the other after. The S&P 500 disappointed me again. The index hit new 2009 highs on an intraday basis but short-term the index is actually forming a bearish megaphone-shaped topping pattern. However, I would turn my focus on the small caps.

The small cap stocks used to see a seasonal rally in January every year. It happened with so much regularity they started calling it the January effect. Then as the phenomenon was publicized each year in the media traders started front running the January effect and it started happening in the last week of December, then the last two weeks of December. Now the whole month of December usually has a bullish tone as the "Christmas rally" runs into the January effect. So why do we care about the small caps? This section of the market has been underperforming since October. The big caps may be the "generals" in the market but the army won't move unless the "soldiers" like the small caps participate.

Thankfully the small cap Russell 2000 index displayed some relative strength last week and seriously outperformed the big caps on Friday. The Russell's close over resistance near the 600 level and its 50-dma is very short-term bullish and if it can close over the mid November high near 605 I'd be a lot more optimistic.

The transportation sector is another group I'm seeing bullish developments. The $TRAN transportation index broke out above key resistance on Friday to set a new 2009 high. The move has been fueled by big gains in the airlines and some decent strength in the railroads. Traditional Dow Theory suggests you can't have a sustainable rally without participate in the transports so this is good news. I'm a little concern that the $TRAN has rallied right to resistance on its weekly chart (see below). We'll have to wait and see if there is any follow through on Friday's rally.

Let's talk about the jobs report for a moment. Economists were expecting the November jobs report to show a loss of 130,000 jobs. There were a few estimates for less but most of us were very surprised to see the government's employment number come in at -11,000 instead of -130,000. Furthermore the government revised both the October and September jobs figures by almost +160,000 jobs. This is very short-term bullish. Adding to the bullish-ness of the report was a small improvement in average hours worked. Employers are not going to start hiring new people when they're current workers need more hours. The average hourly work week improved from a record low of 33.0 in October to 33.2 in November. We still have a long way to go but it's a step in the right direction.

Now let's talk about what concerns me about the jobs report. Most of the improvement was all temporary jobs. Now you could argue that employers are going to hire temps first before they hire full time workers so this could be seen as an improvement. However, we are still losing jobs in the manufacturing sector. Plus the minor improvement from 10.2% unemployment to 10.0% was partially fueled by workers falling off the list as their unemployment benefits run out. One of the worrisome signs was that those who have been unemployed for a significant amount of time are not finding jobs. Now it's entirely possible that in future jobs reports the November number could be revised higher and actually show a net gain for the economy. Unfortunately it doesn't change our expectations for two or three quarters of economic growth before the economy slips back into a double dip recession.

The much stronger than expected jobs number spooked investors. Friday's concern was that the labor market was improving too fast and that the Federal Reserve would have to raise rates sooner than expected. Higher interest rates mean a stronger currency. Right now being short the dollar is an extremely crowded trade and thoughts of higher rates sparked a massive short squeeze. A stronger dollar means weaker commodities, which took out some of the strongest sectors and fueled a heavy day of profit taking in gold. Now gold was overbought and due for some profit taking so I'm not that concerned. The labor market isn't going to improve that fast and the Fed isn't going to raise rates any time soon. Thus this bounce in the dollar should be temporary but that doesn't mean the bounce is over yet. Lately the relationship has been dollar down = stocks up and vice versa. If the dollar continues to bounce we could see more volatility.

On a short-term basis I'm actually growing more optimistic here. We've got 17 1/2 trading days left in 2009. The general trend is up. The jobs report is showing improvement even if I think it's temporary it's still bullish. We could see another chase for performance into the end of the year. Look for a strong close over 2200 for the NASDAQ composite and 1115 or 1120 for the S&P 500 and we can get more aggressive with our bullish trades.

Chart of the S&P 500 Index:

Weekly Chart of the S&P 500 Index:

Chart of the Transportation Index:

Weekly Chart of the Transportation Index:

Chart of the Russell 2000 Index:

LONGER TERM OUTLOOK

Previous Comments on my Long-Term Outlook:

My long-term outlook has not changed. I still expect the economy to see a double-dip, "W"-shaped rebound with the second dip in 2010 (some analysts are predicting it will not show up until 2011). Lousy consumer spending, rising foreclosures, and lagging job growth will be the main culprits. Several weeks ago there were some comments out of the U.S. Treasury concerning foreclosures. The Obama administration's HAMP loan modification program can only help a certain number of homeowners and one official said that even if the HAMP program was a total success we should still expect millions of new foreclosures. This only reinforces my own belief that we will see another tidal wave of foreclosed homes in 2010 and 2011. Some analysts are forecasting upwards of six million foreclosures in the next three years. What is that going to do to consumer confidence and consumer spending? It's not going to help! You can review my long-term outlook here. It's the second half our my "Two Months Left" commentary.

~ James Brown


Portfolio

Portfolio Update

by James Brown

Click here to email James Brown


Current Portfolio


Portfolio Comments:

Big caps struggled on Friday and the S&P 500 is still battling resistance near the 1,110 area. However, I'm encouraged by the strength in the small caps, semiconductors and transports.

Our portfolio definitely saw the gap between winners and losers widen. We've been concerned about the coal stocks and they've only gotten weaker. Meanwhile we had a handful of stocks hit new relative highs. Stocks like RAI and PEP are on track to hit our targets in the next few weeks at their current pace.

Disclaimer: At any given time the author may have positions in any or all of any companies mentioned in the Leaps Newsletter.

--Position Summary Table--
Table lists Directional CALL or PUT/LEAPS only.
Insurance puts, if applicable, are not shown.

Red symbol/name represents a dropped play this week.



Jim's portfolio and updates has been included in the normal play updates section.


New Plays

Sector Improvement

by James Brown

Click here to email James Brown


Key Sector Improvement


Editor's Note:

At the risk of repeating myself I am encouraged by strength in the small cap stocks, the transportation index, and the semiconductors. These are all key sectors of the market that need to participate if any rally is going to have legs. Now if we can just get the financials to breakout from their consolidation we should be in business.

I still hesitate to add new positions with the S&P 500 stuck under resistance near 1,110. However, in the updates section I mentioned that BAC might become a new bullish candidate if the bounce continues. ESV, a watch list candidate, graduated to the play list a couple of days ago. Plus, we're adding HON and ORCL to the watch list.



Play Updates

The Strong Get Stronger

by James Brown

Click here to email James Brown

Editor's Note:

Last week we saw those stocks that have been strong get stronger and the weak get weaker.


Closed Plays


None.


Play Updates


ACI $20.03 -0.40 -- Arch Coal Inc.

Shares of ACI have continued to deteriorate. We've been focused on key support near $20.00 and that's exactly where ACI has landed. The intraday low on Friday morning was $19.45. Our stop loss happens to be $19.40. If shares don't bounce from here it's game over.

I am not suggesting new bullish positions at this time. Our long-term target is the $30 region.

May 14th, 2009 - entry price on ACI @ 16.00, option @ 2.40
symbol: OSE-AF, 2011 JAN $30 LEAP call - current bid/ask $1.40/1.50
-stop loss on ACI @ 19.40

Chart of ACI:


ANR $37.22 -0.22 - Alpha Natural Resources, Inc.

ANR was upgraded to a strong buy on Friday morning but the early morning rally fizzled under the $40.00 level. The short-term trading in ANR has turned bearish. I am still expecting a retracement toward the $35-33 zone unless we see another broad-market rally higher. I'm not suggesting new bullish positions at this time.

Our long-term target is the $50-60 zone.

Aug. 25th, 2009 - entry price on ANR @ 34.00, option @ 7.00
symbol: VJV-AH, 2011 JAN $40 LEAP call - current bid/ask $7.40/8.10
-stop loss on ANR @ 32.40
bought 1/2 LEAP position on 08/25/09 (option price @ 7.00)

Chart of ANR:


BAC $16.28 +0.52 - Bank of America Corp.

BAC has been making headlines the last few days when the company announced on Thursday that they would repay the $45 billion in TARP funds back to the government. BAC would use $26 billion in cash and raise an additional $19 billion in stock. However, they need shareholder approval to increase the number of shares outstanding so they sold common equity securities that will be converted to stock. There was so much demand for these new shares that BAC actually upped the number of securities sold. We're talking over 1 billion new shares of BAC, which is dilutive to current shareholders but investors don't seem to care. They're more excited that BAC is healthy enough to pay back TARP and now they can find a new CEO without having to worry about how much they can pay him or her.

Shares of BAC are currently testing one of its trendlines of higher lows. I would be tempted to open new (smaller) positions on a move over $17.00 or you can wait for a close over stronger resistance at the $18.00 level. Our long-term target is the $25-30 zone. Please note that we're raising our stop loss to $13.85.

Jan 25th, 2009 - entry price on BAC @ 6.24, option @ 2.38
symbol: VBA-AB, JAN 2011 $10 LEAP call - current bid/ask $6.90/7.05
-stop loss on BAC @ 13.85

10/31/09 Sell Half -- option at $6.00 (+152%)

Chart of BAC


BQI $1.20 +0.02 -- Oilsands Quest Inc.

BQI has already produced a 38.2% retracement off its recent highs near $1.28. I would look for another bounce from the $1.10 level or a new close over $1.30 as potential entry points to open Our long-term goal is $2.90.

Nov 27th, 2009 - entry price on BQI @ 1.05, (buy the stock)
-stop loss on BQI @ 0.89

Chart of BQI:


CHK $22.57 -0.46 -- Chesapeake Energy Corp.

It has not been a good week for CHK. The price of natural gas has sunk to new multi-year lows. There is still too much supply for current demand. Shares of CHK have retreated to support near $22.00, which is bolstered by the rising 200-dma. More conservative traders may want to raise their stops toward $22.00. I am not suggesting new positions at this time. Our long-term target is $40.00.

Oct 30th, 2009 - entry price on CHK @ 24.00, option @ 4.70
symbol: VEC-AE, JAN 2011 $25 LEAP call - current bid/ask $3.30/3.45
-stop loss on CHK @ 20.95

Chart of CHK:


CNX $43.76 -1.18 -- Consol Energy Inc.

Unfortunately shares of CNX have continued to retreat along with most of the coal sector. The stock's bearish head-and-shoulders pattern looks even more defined now. The stock hit its 100-dma on Friday morning and bounced but the bounce was pretty meager. If this sector doesn't rebound soon we'll get stopped out at $41.00. I am not suggesting new bullish positions at this time.

CNX has already hit our first target at $48.50. We will plan to sell the second half or our position at $57.50.

Sep 1st, 2009 - entry price on CNX @ 36.50, option @ 7.80(estimate)
symbol: VTL-AH, 2011 JAN $40 LEAP call - current bid/ask $11.00/11.50
-stop loss on CNX @ 41.00

Target hit 09/16/09 @ 48.50, option price $15.40 (+97%)

Chart of CNX


DE $54.24 -0.16 -- Deere & Co.

DE has continued to climb setting new 2009 highs. The stock is probably a little bit overbought here. Investors looking for a new entry point can wait for a dip into the $52-50 zone.

Our long-term target on DE is $69.50. The Point & Figure chart is bullish with a $66 target. FYI: Readers will want to note that DE is due to report earnings around November 25th. The results could produce some volatility. More cautious traders might want to consider some put protection.

Nov 18th, 2009 - entry price on DE @ 51.00, option @ 8.75(estimate)
symbol: VER-AJ, 2011 JAN $50 LEAP call - current bid/ask $10.40/10.60
-stop loss on DE @ 44.00

Chart of DE:


EMR $42.14 +0.67 -- Emerson Electric Co.

The sideways consolidation in EMR has narrowed. Depending on your personal style you can buy a dip near $41.00 or look for a breakout past resistance near $43.00 as a potential entry point. Our target is $47.50.

Sept. 8th, 2009 - entry price on EMR @ 38.00, option @ $4.50
symbol: VHH-AH, 2011 JAN $40 call - current bid/ask $5.80/6.40
-stop loss on EMR @ 33.50.

Chart of EMR:


ESV $41.95 +0.08 -- ENSCO Intl. Inc.

Ouch! It was an ugly week for ESV. The stock produced a failed rally under its 10 and 50-dma last Tuesday and it was down hill the rest of the week. The pull back did allow us an entry point. We've been waiting for a dip to $42.50, which ESV hit on Thursday. The stock is now testing support at its trendline of higher lows and its exponential 200-dma. My concern is the dollar/commodity relationship. If the dollar continues to bounce then oil will see selling pressure. Investors may want to wait and see if ESV slips closer to the $40.00 level and look for a bounce near $40.00 instead. The simple 200-dma has risen to $37.00. I'm adjusting our stop loss from $37.25 to 36.90. Our target is the $55-60 zone.

Dec. 3rd, 2009 - entry price on ESV @ 42.50, option @ $6.80
symbol: VKS-AI, 2011 JAN $45 call - current bid/ask $6.30/6.70
-stop loss on ESV @ 36.90.

Chart of ESV:


FSLR $129.62 + 1.50 -- First Solar

FSLR has produced a decent bounce the last few days. The bottom of the gap down near $130 should be resistance and FSLR is now testing this level. We only have a few weeks left before our 2010 January options expire.

We're not suggesting new positions at this time. Currently we are long the 2010 January $100 put and we have a covered call play that should be fine if FSLR stays above $90.

Covered Call position:

Long 100 shares of FSLR @ $128.00
Short 2010 $150 LEAPS Call LZL-AA @ $40.70
Profit if called is $40.70 in option premium + $22 in stock (+49%) if FSLR is above $150.00.

Put Spread position:

Long 2010 $100 LEAPS Put LQM-MT @ $32.90
Short 2010 $250 LEAPS Put LZL-MJ @ $135.70, net credit $103

- Update 08/15/09 -
Cover the 2010 $250 Put at $109.40. Keep the $100 put.

Currently the 2010 Jan. $100 put is worth (bid) $1.37.
If you're curious the 2010 Jan. $150 call is at $ 2.73.

Chart of FSLR


FST $19.05 +0.02 -- Forest Oil Corp.

FST shot to a two-week high last Monday but it's been downhill ever since. The stock managed to fill the gap with Friday's low. At this point traders can choose to buy another bounce near $18.00 or wait for FST to clear resistance near $22.00 again before launching positions. If oil really starts to breakdown then FST could see a sharper correction. Our long-term target is $37.50.

Oct 15th, 2009 - entry price on FST @ 23.85, option @ 7.40
symbol: OJG-AD, 2011 $20 LEAP call - current bid/ask $3.90/4.20
-stop loss on FST @ 16.85

Chart of FST:


GHM $18.87 +0.08 -- Graham Corp.

GHM has continued to consolidate sideways in the $18-20 zone. If shares correct we can look for a bounce in the $17-15 region. More conservative traders might want to raise their stops closer toward $15.00. I'm not suggesting new positions at this time.

Our target is $24.00. Our stop is at $12.40.

Oct 26th, 2009 - entry price on GHM @ 15.15, option @ 2.65
symbol: GHM-FC, 2010 JUNE $15 call - current bid/ask $4.90/5.30
-stop loss on GHM @ 12.40

- or -

Oct. 26th 2009 - entry price on GHM (the stock) @ 15.15
- stop loss on GHM @ 12.40

Chart of GHM:


GNK $24.29 -0.15 -- Genco Shipping

GNK managed to post a gain for the week but that was due to the Monday-Tuesday rally. The Baltic Dry (goods) index is on the rebound again, which should help shares of GNK. I would look for a bounce near $22.50 or a close over $26.00 as our next entry point to launch positions.

Our plan was to use small positions to keep our risk limited. Our long-term target is $39.00.

Nov 21st, 2009 - entry price on GNK @ 25.46, option @ 5.00
symbol: OKJ-AF, 2011 $30 LEAP call - current bid/ask $3.40/4.30
-stop loss on GNK @ 19.65

Chart of GNK:


INTC $20.46 +0.59 -- Intel Corp.

Semiconductor stocks have been some of the best performers over the last few days. Shares of INTC have rallied from $19.00 to $20.50 and now it's approaching the 2009 highs. The current bounce has me less convinced that INTC will ever fill the gap from last July. The simple 200-dma has risen to $17.40. I'm raising our stop loss to $16.90. I am not suggesting new long-term positions at this time. Our long-term target is the $24-26 zone.

FYI: Shares of Intel don't move very fast. Readers might want to consider turning this play into a calendar or diagonal spread to further maximize your gains.

June 13th, 2009 - entry price on INTC @ 16.31, option @ 1.36
symbol: VNL-AD, 2011 LEAP $20 call - current bid/ask $2.70/2.76
-stop loss on INTC @ 16.90.

Chart of INTC:


MTW $ 9.65 +0.20 -- Manitowoc Inc.

MTW has been correcting for three weeks in a row. Now the stock is testing technical support at its exponential 200-dma. If this slide continues we can look for support near $8.00. I'm not suggesting new positions at this time. Our long-term target is $17.00.

Oct 30th, 2009 - entry price on MTW @ 9.10, option @ 2.61
symbol: VMT-AB, 2011 JAN $10 call - current bid/ask $2.40/2.75
-stop loss on MWT @ 7.90

- or -

Oct. 30th 2009 - entry price on MTW (the stock) @ 9.10
- stop loss on MTW @ 7.90

Chart of MTW:


PBR $50.80 -1.32 - Petroleo Brasiliero

PBR has been stuck under resistance at the $53.50 level. Shares have been able to maintain their bullish trajectory higher while most of the oil sector has begun to roll over. While this relative strength is encouraging we could be at risk for a sell-off in oil if the dollar continues its bounce from Friday. Shares of PBR should have some support at their 50-dma near $49.00 and its long-term trendline near $47.00.

NOTE: I want to repeat some earlier comments. We only have a few weeks left with our options expiring in January 2010. More conservative traders may want to exit early right now to avoid potential losses. I'm not suggesting new bullish positions at this time.

I'm suggesting we sell half our position at $54.50. We'll sell the second half at $59.50.

Apr. 4th, 2009 - entry price on PBR @ 35.10, option @ $2.80
symbol: PMJ-AJ, 2010 $50.00 LEAP call - current bid/ask $3.00/3.15
-stop loss on PBR at $44.40

Chart of PBR:


PEP $63.85 +1.09 -- PEPSICO Inc.

PEP is still showing relative strength. The stock hit new highs for the year last week. The $65.00 level might offer some overhead resistance but if the market can begin a new leg higher I expect PEP to work past it. More conservative traders might want to tighten their stops. I am not suggesting new bullish positions at this time. Our exit target is the $69.90 mark.

July 7th, 2009 - entry price on PEP @ 57.25, option @ $4.50(estimate)
symbol: VP-AL, 2011 $60.00 LEAP call - current bid/ask $7.40/7.80
-stop loss on PEP at $54.95

Chart of PEP:


RAI $53.04 +1.99 -- Reynolds American Inc.

Shares of RAI were upgraded to a "buy" on Friday and the stock exploded higher setting new 52-week highs. I am raising our stop loss to $47.45. I'm not suggesting new positions at this time.

Our second and final target is $57.50.

July 24th, 2009 - entry price on RAI @ 42.50, option @ $4.50(estimate)
symbol: OWO-AH, 2011 JAN $40.00 LEAP call - current bid/ask $11.20/14.90
-stop loss on RAI at $47.45

Sold Half on 10/19 @ 49.50, option @ $8.90 (+97%)

Chart of RAI:


RGLD $51.26 -2.83 -- Royal Gold Inc.

The price of gold had started to turn parabolic with a huge string of consecutive gains and new all-time highs. The jobs report finally sparked some profit taking. The nonfarm payroll report was significantly stronger than expected. It was so strong that investors worried the Federal Reserve might have to raise interest rates sooner than expected. Higher rates usually mean a stronger dollar and there were so many investors who were short the dollar that it started a short squeeze in the currency. This big bounce in the dollar is what ignited the sell-off in gold. The goldminers followed it lower.

Now this bounce in the dollar is probably temporary. The Fed is not going to raise rates any time soon. That means gold will eventually turn higher again but we don't know when this current sell-off will end. Shares of RGLD should find support near $50.00 and the low on Friday was $49.83. However, if $50 breaks then RGLD should also find support near $45 and its longer-term moving averages.

I would be tempted to buy LEAPS on RGLD here but it might pay off to wait and see if shares dip toward $45.00 first. Our target to exit is $64.50.

Nov. 7th, 2009 - entry price on RGLD @ 50.70, option @ 7.50
symbol: ZMO-AL, 2011 JAN $60 LEAP call - current bid/ask $6.10/7.00
-stop loss on RLGD @ 41.95

Chart of RGLD


TEX $19.13 +0.09 -- Terex Corp.

TEX is going nowhere fast. The stock spent another week consolidating sideways between overhead resistance near $20.00 and technical support at its 100-dma. The 50-dma is currently at $21.00. I would wait for a close over $21.00 before considering new LEAPS positions. Our final target is $29.50.

Sept. 11th, 2009 - entry price on TEX @ 18.25, option @ 4.10
symbol: VXQ-AD, JAN 2011 $20 LEAP call - current bid/ask $4.10/4.70
-stop loss on TEX @ 17.75

Sell half (10/24/09), option at $7.50 (+82.9%)

Chart of TEX:


UYG $5.66 +0.18 - ProShares Ultra Financials (2x) ETF

The financials have continued to churn sideways. The good news here is that the consolidation is narrowing. A breakout is imminent. The bad news is that the breakout could go either way. Now normally stocks tend to break in the direction of the previous trend, which in this case would be higher, but it's not a guarantee. You might think the stronger jobs report would be bullish for financials but the group failed to move on the news.

I would almost be tempted to open new bullish positions on a move over $6.00 but I'd up my stop loss toward $5.25.

Our second and final target is $9.50.

FYI: The UYG trades off the DJUSFN index.

Our strategy called for buying the ETF instead of the options.

Current position in the UYG = $1.50 entry (stop loss: 4.80)

10/14/09 Exit - Sell Half @ 6.31 (gap open exit, +320%)

Chart of UYG:



Watch

Software & Industrial Goods

by James Brown

Click here to email James Brown


New Watch List Entries

HON - Honeywell Intl.

ORCL - Oracle Corp.


Active Watch List Candidates

DSX - Diana Shipping Inc.


Dropped Watch List Entries

ESV graduated to our play list.


New Watch List Candidates:

HON $40.14 change: +0.54 - Honeywell Intl. Inc.

Industrial names should do well as the economy improves. Shares of HON have rallied toward their 2009 highs and they're on the verge of a breakout. I am suggesting a trigger to buy LEAPS at $41.00. If triggered our first target to take profits is at $49.00. Our second target is at $54.00. We'll use a stop loss at $35.75 although more conservative traders may want to use a stop closer to $38.00.

Company Info:
Honeywell International is a diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. (source: company press release or website)

Breakout trigger: $41.00

BUY the 2011 January $45 LEAP call (VAD-AI)

Chart of HON:


ORCL $22.83 change: +0.19 Oracle Corp.

Evidently investors think business software is going to be a winner as the economy improves. Shares of ORCL have rallied toward their 2009 highs near $23.00 and look poised to breakout. The Point & Figure chart is bullish with a $32 target. I do see potential resistance in the $23.50 level dating back to August 2008 so I'm suggesting a trigger to buy LEAPS at $24.05. If triggered we'll use a stop loss at $21.75. Our long-term target is $29.75.

Shares of ORCL don't normally move very fast. Readers might want to consider turning this play into a calendar or diagonal spread to further maximize your gains.

Company Info:
Oracle (NASDAQ: ORCL) is the world's largest business software company (source: company press release or website)

Breakout trigger: $24.05

BUY the 2011 January $25 LEAP call (VOC-AE)

Chart of ORCL:


Active Watch List Candidates:


DSX $15.88 -0.11 - Diana Shipping Inc.

It looks like DSX has found support in the $15.50-15.30 zone. The Baltic Dry (goods) index is turning higher again and this could portend a new leg up for DSX. Instead of waiting for a dip near $14.50 I am adjusting our trigger. Use a move to $17.05 as a bullish entry point to buy LEAPS on DSX. We'll use the 2011 January $20 LEAP calls.

If we're triggered at $17.05 I'm setting our long-term target at $24.00. We'll use a stop loss at $13.85.

Buy-the-Dip trigger: $17.05 *new*

BUY the 2011 January $20.00 LEAPS (symbol: XDJ-AD)

Chart of DSX: