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| GDW - Golden West Financial | Week Ended: 3/24/01 |
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| Price |
59.26 |
P/E Ratio |
15 |
52 Week High |
70.50 |
| Last Week |
- 0.64 |
Earnings Date |
04/23/01 |
52 Week Low |
27.94 |
| Picked At |
58.80 |
Date Picked |
3/20/01 |
Sector |
Financial |
| Activity |
| Current |
59.26 |
Open |
56.45 |
Change |
3.06 |
| Low |
55.70 |
High |
59.46 |
Volume |
544,300 |
ZACKS | NEWS | PROFILE | HISTORICAL PRICES | OPTIONS | D-CHART |
| Company Description Golden West Financial is a savings and loan holding company for the World Savings and Loan Association, and the World Savings Banks. For the FY ended 12/31/00, total interest income rose 34% to $3.80B. Net interest income after LLP rose 14% to $1.14B. Net income rose 14% to $545.8M. Net interest income reflects an increase in average earning assets. Earnings reflect an increase in fees and other non-interest income.
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| Play Description March 20, 2001
GDW showed some remarkable resiliency today in the face of broad market selling into the close. The resiliency was even more impressive in light of the fact that the PHLX Bank Index (BKX) plummeted 28.67 points to a close of 818.38 following the FOMC's latest rate cut. Perhaps the interest in GDW lies in the possibility that the stock is ripe for a split. The current share price is more than $15.00 above the price when the last split was announced in November 1999. Another reason traders might be interested is that GDW broke out of its 2001 trading range today. The bottom of the range found excellent support at the 200-DMA of $51.88. The top of the range is $59.19. GDW did pull back below this resistance. Therefore, we would be really interested in initiating a position if GDW can push back above $59.19 tomorrow. In the event of a pullback, we would be cautiously willing to pick up the stock if it stays above $54.50. Today's volume of 1.1 million shares was almost twice the average daily volume. This is another good sign that there is interest in owning this stock. What’s more, other technical indicators such as the MACD, OBV and Money Flow are all strong and point towards continued gains.
Picked on March 20th @ $58.80
Change since picked +0.00
Stop Loss @ $54.50
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| Update March 22, 2001
We were initially impressed with GDW's ability to withstand the selling within the bank sector immediately following the rate cut. Today, renewed concerns about the potential for major Japanese bank failures scared investors enough to knock down domestic banking concerns across the board. If GDW can hold above its 50-DMA of $55.81, we may revisit this play in the future.
Picked on March 20th @ $58.80
Profit/Loss -4.30 (7%) (Stopped Thursday @ $54.50)
Best Profit +0.30 (1%)
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