Option Investor
Newsletter

Daily Newsletter, Monday, 4/4/2011

Table of Contents

  1. Market Wrap
  2. New Plays
  3. In Play Updates and Reviews

Market Wrap

Not A Manic Monday

by Todd Shriber

Click here to email Todd Shriber
A minor dip by the Nasdaq following a glum report from the Semiconductor Industry Association was overshadowed by another round of deal-making on Monday as the Dow Jones Industrial Average and the S&P 500 eked out small gains. Small-caps continue to shine as the Russell 2000 just missed a close at 850, but is still trading near all-time highs.

Stats Table

It was another day at the office for oil prices as black gold ascended to another 30-month high with the Libya situation leading the way. Some carryover effect from last Friday's jobs report probably helped a bit, too, as traders speculated that the U.S. economic recovery will be strong enough to support increased oil demand.

Al Jazeera reported that forces loyal to embattled Libyan Dictator Muammar Qaddafi bombed an oilfield in the southern part of the country. One analyst quoted by Bloomberg said ''It's becoming increasingly clear that the situation in Libya will be prolonged.'' I should say so. Feb. 15 marks the start of violence in Africa's third-largest oil producer and here we are eight weeks later with no end in sight and oil trading at levels not seen since 2008.

Oil's rise has been so swift that Farouk Al-Zanki, the CEO of Kuwait Petroleum, said today that prices are now a concern and that they are too high. Kuwait, an OPEC member, apparently has a preference for oil prices in the $90-$100 range.

Oil Chart

In news pertaining directly to oil equities, the Interior Department would like the world to know that BP (BP) has not in fact received approval to resume deepwater drilling projects in the Gulf of Mexico. News broke on Sunday that Europe's second-largest oil company had approached regulators about getting back to work in the Gulf and it appeared the two sides were at least discussing the situation, but nothing has come of those talks yet.

''There is no agreement with respect to BP, nor will there be any agreement with respect to BP or anybody else that isn't within the normal process that we have,'' Interior Secretary Ken Salazar said, according to Bloomberg News.

Following the Gulf spill, BP has said it remains committed to the Gulf and the region is certainly necessary for the company to retain its title as the biggest oil and gas producer in the U.S., which it claims to be on its Web site. With that, it may be reasonable to think BP is getting a little antsy about its Gulf situation after seeing rivals RDS-A, XOM and CVX all win permits for deepwater projects in recent weeks.

Between the deal with OAO Rosneft being blocked, reports about executives possibly facing manslaughter charges and now the clear declaration that it does not have an agreement to get back to work in the Gulf, the recent news flow for BP has been challenging. Good thing oil prices are going up to prop up the stock.

For more news and commentary on the energy sector, head over to OilSlick.com and register for the free daily newsletter (HERE).

BP Chart

As I mentioned earlier, there was deal-making in the air today, but I am not going to start with the biggest deal in dollar terms. In fact this deal is small in price, but in the metaphorical sense, it is a ''big deal.'' Molycorp (MCP), the largest U.S.-based rare earths miner, said it will acquire 90% of Estonia-based AS Silmet for $89 million.

You might be wondering why an $89 million dollar deal is worth writing about. Well, that is pretty easy to answer: Because the rare earths sector is probably one of the few, heck, it might be the only industry where an $89 million purchase helps the buyer's shares surge 12% in a day. That is exactly what happened with Molycorp today.

The deal represents Molycorp's first move into Europe and is made all the more significant by the fact that it will help the company double its annual output of rare earths oxide production capacity. The acquisition will double Molycorp's annual output of rare earths oxides to 6,000 tons from 3,000 tons. There are just two rare earths processing facilities in Europe and one belongs to AS Silmet.

Molycorp's acquisition is good news on two fronts. First, it will allow the company to boost production and meet demands from rare earths consumers that are looking to buy from non-Chinese dealers. Second, Molycorp could enhance its position as a supplier of rare earths to China when the company becomes a net importer of the 17 elements in the next few years. Good thing JPMorgan raised its price target on Molycorp to $74 from $66 last week. The stock closed about $66 today and the chart makes it look like $74 could be a thing of the past sometime pretty soon.

Molycorp Chart

The truly big deal of the day in terms of size was announced after the close when Texas Instruments (TXN), the second-largest U.S. semiconductor maker, said it will acquire rival National Semiconductor (NSM) for $6.5 billion in cash, a deal that values Nat Semi at $25 a share, a robust 78% premium to where the shares closed on Monday.

TI, which has long been a dominant maker of analog chips, is expanding that dominance with the deal to acquire National Semiconductor. Analog chips are found in everyday products such as mobile phones and are key components in more exotic fare, such as missile guidance systems. Combined , the two companies will have a portfolio of 42,000 products for their analog chips.

Dallas-based TI is funding the deal with a combination of cash on hand and debt. The company had almost $3.1 billion in cash on hand as of the end of last year. The market for analog semiconductors was $42 billion in 2010. TI is the market leader with 2010 analog revenue of $6.0 billion, or 14% of the market. National's revenue in calendar year 2010 was about $1.6 billion, or 3% of the market, according to a statement issued by the companies. The transaction is expected to close in six to nine months.

Over the past month, shares of both companies have been slammed, but both are still moderately positive on a year-to-date basis.

National Semiconductor Chart

As an interesting (I hope) aside, I was having a conversation with another party that I do research and write for, and he said to me “Please find me some value among energy and commodities ETFs.” No small task given oil's recent ascent, soaring grain prices and silver's almost daily encounters with multi-decade highs.

In the course of my research, I found a nifty chart, courtesy of Bespoke Investment Group, that highlights the 30 ETFs are currently the most overbought. Not surprisingly, more than a third (12 to be precise) are energy- or commodities-related. Count the Market Vectors Russia ETF (RSX) as an energy ETF, which it basically is, and the iShares MSCI South Africa Index Fund (EZA) as a precious metals play, which it is, and the number jumps to 14.

Overall, only two of the 30 ETFs in the chart aren't exposed to commodities, emerging markets or energy.

Overbought ETFs

Looking at the charts, anything that I am about to say about the S&P 500 will not represent much of a departure from Jim's comments in the weekend wrap simply because a gain of less than a half a point to just below 1333 does not give me a lot of material to work with. In addition, the intraday move was less than eight points, so the action was pretty dull.

A close at 1333 is not a true breakout above the resistance at 1331 and support is all the way back at 1310. The big thing this week is the index's ability to challenge and surpass resistance in the 1340 area.

S&P 500 Chart

The Dow closed just barely over 12,400 and if that level holds tomorrow, shorts may be forced to do some more covering on their losing positions. On the other hand, traders may opt to take it slow this week leading up to the start of earnings season next Monday. An argument can be made that the Dow is or is getting to close to being overbought. The 12,250 area should be the first support zone for the Dow. Dow Chart

The Nasdaq lagged at the end of last week and did so again today, being turned away at 2800 once again. Maybe the TXN/NSM news will be a positive catalyst for the Nasdaq, but that is a stretch as both are NYSE-listed. I get the feeling that the Nasdaq needs a bullish catalyst and needs it soon or we could see a close below 2775 and that would make support at 2750 an issue in the near-term.

Nasdaq Chart

The Russell 2000 gained just 2.6 points today, but the Index is still looking the most bullish and does not need much help to surpass round-number resistance at 850. That is all that resistance is anyway because real resistance is the 855 high from 2007. That is also an all-time high and if the Index can breakout above that level this week, it would clearly be a bullish sign. Support can be found at 830.

Russell 2000 Chart

Historically, April is a good month for stocks. In the past 60 years, the S&P 500 has risen in 40 Aprils and declined in 21. One of those 21 declines includes last April, though from April 1-30, 2010, the index lost a mere point. On the dividend increase front, April is only so-so compared to January and February, but several Dow components with lengthy streaks of dividend increases usually raise their payouts in April, KO, JNJ and PG among them. Barring any surprises, I think the market will be pretty docile this week leading up to first-quarter earnings next week.


New Plays

Getting Tired?

by James Brown

Click here to email James Brown

Editor's Note:

No new trades tonight. The market looks short-term overbought and due for some profit taking or at least a little sideways consolidation. Some of the stocks on my watch list tonight are ADSK, Citigroup (C), MO, and SAI. On ADSK a move past resistance at $44.50 might be an entry point. For Citigroup a rally past the $4.50 or $4.60 levels could be a bullish entry point following its recent sideways consolidation. MO looks short-term overbought given the big bounce from its March lows but a rally past $26.25 would be a new all-time high. I was tempted to add SAI as a bullish candidate tonight but readers may want to wait for a dip near $17.00 before considering new bullish positions.

- James


In Play Updates and Reviews

A Lackluster Monday

by James Brown

Click here to email James Brown

Editor's Note:
Stocks turned in a quiet session without any catalysts to move the market higher.

-James

Current Portfolio:


BULLISH Play Updates

ACI Worldwide Inc. - ACIW - close: 32.81 change: -0.01

Stop Loss: 30.90
Target(s): --.--, 34.75
Current Gain/Loss: +10.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/04 update: With the market moving sideways on Monday there was no help to push ACIW past resistance at $33.00. There is no change from my weekend comments. I am not suggesting new positions and more conservative traders will want to strongly consider locking in gains now.

Officially we're aiming for the $34.75 level but plan to exit ahead of the late April earnings report.

FYI: ACIW does have options but the spreads are very wide, which puts us at a significant disadvantage.

SMALL bullish positions

Current Position: Long ACIW stock @ $29.63

04/02 New stop loss @ 30.90
03/24 first exit was at $32.25 (+8.8%)
03/23 Sell half now! exit price at the open on 3/24
03/22 New stop loss @ 29.75, 1st Target adjusted to $32.85
03/19 New stop loss @ 29.35

Entry on February 25 at $29.63
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 122 thousand
Listed on February 24th, 2010


AutoNation, Inc. - AN - close: 34.59 change: -1.03

Stop Loss: 33.49
Target(s): 38.00, 39.75
Current Gain/Loss: - 1.8%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
04/04 update: AN management announced that the company's March sales rose +19% over a year ago. So why did the stock drop -2.8%? The weakness was probably due to management's comments that they do expect supply disruptions for Japanese automakers to impact supply availability in the second and third quarters of this year. However, AN remains optimistic that 2011 will continue to see improvement for the consumer.

I would take advantage of this dip to the 10-dma and buy AN now. Or you can wait for a dip closer to the $34.00 level, which should be support.

Our upside targets are $38.00 and $39.75 although that might be a little optimistic. We do not want to hold over the late April earnings report.

Current Position: Long AN stock @ $35.25

- or -

Long the May $36 calls (AN1121E36) Entry @ $1.15

Entry on March 30 at $35.25
Earnings Date 04/26/11 (unconfirmed)
Average Daily Volume: 972 thousand
Listed on March 29th, 2011


Aon Corp. - AON - close: 53.80 change: +0.04

Stop Loss: 50.90
Target(s): 59.00
Current Gain/Loss: +0.0%
Time Frame: 4 to 5 weeks
New Positions: see below

Comments:
04/04 update: It was a quiet day for AON but shares did hit a new 52-week high above the $54 level on Monday morning. The stock opened at $53.76 and closed with a minor gain. While I would open new positions here it looks like there is a strong chance AON will test support near $53.00 again. Readers may want to wait for a dip near $53.00 before opening positions. Our time frame is the end of April since earnings are due out in early May. FYI: The Point & Figure chart for AON is bullish with a $90 target.

Current Position: Long AON stock @ $53.76

- or -

Long the May $55.00 call (AON1121E55) Entry @ $0.95

Entry on April 4 at $53.76
Earnings Date 05/02/11 (unconfirmed)
Average Daily Volume: 2.2 million
Listed on April 2nd, 2011


Danaher Corp. - DHR - close: 52.30 change: -0.27

Stop Loss: 49.95
Target(s): 55.90
Current Gain/Loss: - 0.5%
Time Frame: about 3 weeks
New Positions: see below

Comments:
04/04 update: DHR spent the day consolidating sideways. There is no change from my weekend comments. I would still buy the stock (or calls) now at current levels. Our first target is $55.90. We will plan to exit ahead of the April 21st earnings report. I'm listing a stop loss at $49.95 but more conservative traders might want to use a stop closer to the $51.00 level (the $50.80 mark would work).

Current Position: long DHR stock @ $52.57

- or -

Long the May $55 call (DHR1121E55) entry @ $0.70

Entry on April 4 at $52.57
Earnings Date 04/21/11 (confirmed)
Average Daily Volume: 2.9 million
Listed on April 2nd, 2011


Dick's Sporting Goods Inc. - DKS - close: 40.77 change: +0.30

Stop Loss: 37.45
Target(s): 42.25, 44.50
Current Gain/Loss: +3.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/04 update: DKS was showing a little relative strength on Monday with a +0.7% gain. The stock closed near its high for the day, which bodes well for tomorrow. I would consider new positions here but the early March highs remain potential resistance. Please note our new stop loss at $37.45. Our targets are $42.25 and $44.50.

FYI: The Point & Figure chart for DKS is bullish with a $65 target.

- Small Positions -

Current Position: Long DKS stock @ $39.39

- or -

Long the June $40 calls (DKS1118F40) Entry @ $2.35

04/02 New stop loss @ 37.45

Entry on March 21 at $39.39
Earnings Date 05/18/11 (unconfirmed)
Average Daily Volume: 1.6 million
Listed on March 19th, 2010


eBay Inc. - EBAY - close: 31.39 change: +0.03

Stop Loss: 29.49
Target(s): 34.90, 39.00
Current Gain/Loss: + 0.4%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/04 update: Nothing has changed for EBAY. The stock is still consolidating sideways inside a neutral pattern and should breakout one way or the other pretty soon. Readers may want to wait to buy the stock (or calls) on a move past $32.00 or its 50-dma. Or you could wait for a rise past the March 25th high near $32.40 as your new entry point.

Our first target is $34.90. We do not want to hold over EBAY's late April earnings report.

Current Position: Long EBAY stock @ $31.25

- or -

Long the May $33.00 calls (EBAY1121E33) Entry @ $0.75

Entry on March 28 at $31.25
Earnings Date 04/27/11 (unconfirmed)
Average Daily Volume: 10 million
Listed on March 24th, 2011


Ford Motor Co. - F - close: 15.55 change: +0.39

Stop Loss: 14.19
Target(s): 16.45, 17.45
Current Gain/Loss: + 3.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/04 update: An upgrade this morning for Ford helped push the stock to a +2.5% gain. The breakout past the 50-dma is encouraging. If you're looking for a new entry point consider waiting for a dip near $15.25-15.00. Our targets are $16.45 and $17.45.

Current Position: Long F stock @ $15.05

- or -

Long the April $15 calls (F1116D15) Entry @ $0.33

Entry on March 24 at $15.05
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume: 82 million
Listed on March 15th, 2010


Gildan Activewear - GIL - close: 33.18 change: -0.11

Stop Loss: 29.70
Target(s): 34.85, 38.00
Current Gain/Loss: + 9.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/04 update: GIL consolidated sideways above the $33.00 level most of Monday's session. I am not suggesting new positions at current levels. Look for dips in the $32.50-32.00 zone.

Current Position: long GIL stock @ 30.35

- or -

Long the April $30 call (GIL1116D30) Entry @ $1.60

03/19 New stop loss @ 29.70
03/08 Triggered $ 30.35
03/01 Adjusted buy-the-dip trigger to $30.35
03/01 Adjusted stop loss to $28.99

Entry on March 8 at $30.35
Earnings Date 05/12/11 (unconfirmed)
Average Daily Volume: 634 thousand
Listed on February 28th, 2010


Harley Davidson - HOG - close: 41.92 change: -0.23

Stop Loss: 39.75
Target(s): 47.00, 49.75
Current Gain/Loss: - 0.5%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
04/04 update: HOG saw some minor profit taking. There is no change from my weekend comments. I would still consider new positions now or you can look for a dip closer to $41.00. Readers will want to keep their position size small to limit our risk. We only have a few weeks since we will plan to exit ahead of the late April earnings report.

Current Position: long HOG stock @ $42.13

- or -

Long the May $45 calls (HOG1121E45) entry @ $0.95

Entry on March 31 at $42.13
Earnings Date 04/19/11 (unconfirmed)
Average Daily Volume: 2.0 million
Listed on March 30th, 2011


KLA-Tencor - KLAC - close: 46.43 change: -0.37

Stop Loss: 44.95
Target(s): 49.90
Current Gain/Loss: - 0.4%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/04 update: Traders need to be cautious with the chip stocks like KLAC. The sector has been underperforming and the SOX lost -0.8% today. KLAC followed suit and closed under technical support near its 50-dma. I've been warning readers to look for a dip near $46.00. This should be short-term support. I would be tempted to open positions here in spite of the recent weakness but you might want to use a much tighter stop loss.

FYI: After the closing bell Texas Instruments (TXN) announced a $25 per share offer to buy National Semiconductor (NSM). Shares of NSM were trading above $24 after hours. TXN was trading down less than a dollar. If this news sparks the belief the sector could see more M&A then the semiconductor stocks could turn around and move higher.

Current Position: Long KLAC stock @ $46.65

- or -

Long the April $45 calls (KLAC1116D45) Entry @ $2.85

Entry on March 24 at $46.65
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 2.5 million
Listed on March 23rd, 2011


NVIDIA Corp. - NVDA - close: 17.55 change: -0.65

Stop Loss: 16.85
Target(s): 19.95, 21.75
Current Gain/Loss: - 3.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/04 update: NVDA helped lead the semiconductor sector lower after some bearish analyst comments this morning. UBS lowered their target price on NVDA to $20. NVDA gave up -3.5%. The close under $18.00 is bearish. Shares are probably headed for their March lows near $17.00. Nimble traders could try buying dips near $17.00. I would prefer to buy a bounce from $17.00. It will be interested to see how the TXN-NSM merger news might affect this industry tomorrow.

Our first target for NVDA is at $19.95. Our second target is $21.75.

Prior Comments:
This is a very speculative, higher-risk trade. Remember to keep your positions small to limit your risk.

- small bullish positions -

Current Position: long NVDA stock @ $18.19

- or -

Long the April $20 calls (NVDA1116D20) Entry @ $0.72

Entry on March 14 at $18.19
Earnings Date 05/12/11 (unconfirmed)
Average Daily Volume: 35 million
Listed on March 12th, 2010


Polycom Inc. - PLCM - close: 49.12 change: -0.49

Stop Loss: 47.40
Target(s): 54.85,
Current Gain/Loss: - 1.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/04 update: The sharp sell-off on Friday saw some follow through Monday morning. PLCM plunged to $47.67 very quickly but found support at its rising 50-dma. I have been suggesting that we buy dips in the $49.00-48.50 zone so today's move is an entry point. Our upside target is $54.85.

- Small Bullish Positions -

Current Position: Long PLCM stock @ $50.18

- or -

Long the May $52.50 calls (PLCM1121E52.5) Entry @ $2.00

04/02 New stop loss @ 47.40
03/23 Entry price on the May $52.50 call is an estimate.

Entry on March 23 at $50.18
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume: 967 thousand
Listed on March 22nd, 2011


Patterson-UTI Energy Inc. - PTEN - close: 28.95 change: +0.00

Stop Loss: 25.95
Target(s): 31.50, 34.00
Current Gain/Loss: + 2.4%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/04 update: PTEN closed unchanged on the session. I would prefer to launch new positions on a dip near $28.50-28.00. More conservative traders might want to inch up their stop loss.

Prior Comments:
The $30.00 mark might offer some resistance but I'm targeting a climb to $31.50 and the $34.00 levels.

Current Position: Long PTEN stock @ 28.25

- or -

Long the May $30 calls (PTEN1121E30) Entry @ $0.95

Entry on March 25 at $28.25
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 2.8 million
Listed on March 17th, 2010


Ryder Systems Inc. - R - close: 50.42 change: -0.24

Stop Loss: 47.40
Target(s): 53.00
Current Gain/Loss: + 0.3%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
04/04 update: There is no change from my weekend comments on R. I would wait for dips near $50.00 or the 10-dma as our next entry point for bullish positions. Our target is the $53.00 level. We do not want to hold over the late April earnings report.

Current Position: Long R stock @ $50.25

- or -

Long the May $50 call (R1121E50) Entry @ $2.55

Entry on March 30 at $50.25
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume: 388 thousand
Listed on March 26th, 2011


Tesoro Corp - TSO - close: 27.86 change: +0.82

Stop Loss: 23.95
Target(s): 29.90
Current Gain/Loss: + 6.5%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/04 update: TSO displayed relative strength with a +3.0% gain but volume was very weak. I am not suggesting new positions at these levels. Our target to exit is $29.90. Readers may want to go ahead and adjust their stop loss higher.

Prior Comments:
This is a higher-risk, more aggressive trade. Keep your position size small. FYI: The most recent data listed short interest in TSO at more than 13% of the stock's 141 million-share float. A breakout past resistance could spark another short squeeze.

Current Position: Long TSO stock @ 26.15

- or -

Long the May $27.00 calls (TSO1121E27) Entry @ $1.60

Entry on March 24 at $26.15
Earnings Date 04/25/11 (unconfirmed)
Average Daily Volume: 8.2 million
Listed on March 21st, 2010


Williams Companies, Inc. - WMB - close: 31.10 change: -0.18

Stop Loss: 29.45
Target(s): 34.50
Current Gain/Loss: - 0.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/04 update: Today's dip in WMB could be an entry point. I have been suggesting a dip into the $31.00-30.00 zone as a area to consider buying WMB.

Current Position: long WMB stock @ $31.26

- or -

Long the May $30 calls (WMB1121E30) Entry @ $2.10

Entry on March 28 at $31.26
Earnings Date 05/05/11 (unconfirmed)
Average Daily Volume: 7.0 million
Listed on March 26th, 2011


Weyerhaeuser Co. - WY - close: 24.96 change: -0.18

Stop Loss: 23.40
Target(s): 27.25, 29.25
Current Gain/Loss: + 1.1%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/04 update: The rally in WY has stalled at resistance near its February and March highs. Shares could retest their trend of higher lows or the 50-dma before moving higher. I would look for an entry point near $24.50 or wait for a breakout past $25.30.

Prior Comments:
Keep your positions small to limit your risk.

Suggested Position: long WY stock @ $24.68

- or -

Long the July $25 calls (WY1116G25) Entry @ $1.64

03/24 New stop @ 23.40

Entry on March 16 at $24.68
Earnings Date 04/29/11 (unconfirmed)
Average Daily Volume: 6.4 million
Listed on March 15th, 2010


BEARISH Play Updates

Overseas Shipholding Group - OSG - close: 31.44 change: -0.33

Stop Loss: 33.55
Target(s): 27.75, 25.25
Current Gain/Loss: + 2.3%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
04/04 update: OSG is still slowly slipping lower. I would still consider new bearish positions here or you could look for another failed rally near $32.00-32.50. We do want to use small positions. More conservative traders may want to adjust their stop loss closer to the $33.00 level.

Our plan was to use small positions to limit our risk. The P&F chart is forecasting a $25 target.

- Small Bearish Positions -

Current Position: Short OSG stock @ $32.20

- or -

Long the April $30 PUTS (OSG1116P30) Entry @ $0.75

03/16 New stop loss @ 33.55

Entry on March 11 at $32.20
Earnings Date 05/04/11 (unconfirmed)
Average Daily Volume: 705 thousand
Listed on March 10th, 2010