Thursday, December 21, 2006

Trade Ideas: CHI

This will be the last post until after Christmas. The markets took another step down, but the damage was slight and the volume light. The Trade Ideas scan was quiet; it was tough to find stocks making more than 4 or 5 appearances over the course of the day. Eight picks covered a time span of 2 hours - its full on holiday season.

Calamos CV (CHI) was one of the few pick to make 15 appearances. The income fund broke to new reaction highs, but has larger resistance at $20.41 to look forward too. The long term chart shows frequent positive tests of the 40-week MA (*corrected from "40-day MA"*). As for a target; the point-n-figure chart of $26.50 looks reasonable. The fund pays a 9.0% yield.

Calamos Convertible Opportunities & Income Fund is a closed-ended fund managed by Calamos Advisors LLC. It seeks to make its investments in the consumer discretionary, financial, energy, consumer staples, information technology, industrials, materials, healthcare, utilities, and telecommunication services industries. The fund invests in the public fixed income markets of the United States. It primarily invests in high yield fixed income securities and convertible securities that are either investment grade, BB rated, rated B and below, or unrated. The fund employs a fundamental analysis to invest in value securities. It seeks total return through a combination of capital appreciation and current income.



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