Agriculture ETF (DBA) Draws Long-Term Calls

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June 12, 2009 11:31am NYSE:DBA

agricultureNasdaq.com Reports “A large trader is making a long-term bet that the agriculture sector will rise by year’s end.  A huge block of 7,700 calls changed hands this morning at the January 35 strike of the PowerShares DB Agriculture exchange traded fund, followed by another 300 traded within seconds.  All 8,000 went for $0.70 in a strong buying pattern, according to optionMONSTER’s real-time Heat Seeker tracking system,”  Says Mike Yamamoto. 


“The trade was well over the open interest of 4,710 contracts at that strike, where the average call volume is just 719,”  Says Mike Yamamoto.

ETF DAILY NEWS TAKE:  Investors are flocking to PowerShares DB Agriculture (DBA)  as the reflation trade takes place.

Full Story: HERE


 

We ran this ETF through the market club software and found the following results from their chart analysis program:

POWERSHARES DB AGRI INDEX (PACF:DBA)
Smart Scan Chart Analysis indicates a counter trend rally is underway The current up-trend could be changing and moving into a trading range Sidelines Mode.Based on a pre-defined weighted trend formula for chart analysis, DBA scored +55 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
     
-10 Last Hour Close Below 5 hour Moving Average
-15 New 3 Day Low on Friday
-20 Last Price Below 20 Day Moving Average
+25 New 3 Week High, Week Ending June 6th
+30 New 3 Month High in June
+55 Total Score

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