Western Digital (WDC) added to S&P 500 - Brent Archer

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Western Digital (WDC) added to S&P 500
May 22, 2009 05:30 PM UTC

Brent Archer

Return	Risk
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Symbol	Sentiment	Start	Return	Closed
WDC	n/a
EQ	n/a
CTL	n/a

Via BloggingStocks:

Filed under: Good news, Options, Technical Analysis, S and P 500

Western Digital (NYSE: WDC - option chain) shares are rising today after Standard & Poor's announced yesterday that WDC will be added to the S&P 500 to replace Embarq (NYSE: EQ), which is being acquired by CenturyTel Inc. (NYSE: CTL). When this happens, mutual funds and other services that track the S&P 500 will have to buy WDC, which usually gives the stock a boost higher or at least a floor. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on WDC.

WDC opened this morning at $24.95. So far today the stock has hit a low of $24.35 and a high of $25.25. As of 11:30, WDC is trading at $24.68 up 0.32 (1.3%). The chart for WDC looks bearish and S&P gives WDC a negative 2 STARS (out of 5) sell ranking.

Continue reading Western Digital (WDC) added to S&P 500

Western Digital (WDC) added to S&P 500 originally appeared on BloggingStocks on Fri, 22 May 2009 12:30:00 EST. Please see our terms for use of feeds.

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