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IYZ None

Play Editor's Note: Monday's market action was pretty encouraging. The Dow Industrials broke through their four-month trendline of resistance. The S&P 500 is close to doing the same. I am reiterating my weekend comments that I'm short-term bullish and would probably look to use dips in the next day or two as bullish entry points. Overall we remain in a bear market.


New Long Plays

iShares Dow Jones Telecom - IYZ - close: 23.79 chg: +0.75 stop: 22.24

Company Description:
The IYZ is the iShares Dow Jones US Telecom exchange traded fund. This ETF seeks to represent the Dow Jones U.S. select telecommunications index.

Why We Like It:
The IYZ has broken out past a significant trendline of resistance. The group has produced a bullish reversal and is deeply oversold. This could be the beginning of a new leg higher. Aggressive traders may want to jump in right now. We are suggesting that readers buy a dip in the $23.50-23.00 zone. We're listing a stop loss at $22.24. Our 1st target is the $25.85-26.00 range. Our second target is the $27.85-28.00 zone.

Picked on March xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 00/00/00
Average Daily Volume: 429 thousand
 

New Short Plays

None today.
 

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