Commentary
Sector Watch


Play of the Day
Current Plays
Watch List
New Plays
Play Updates
Drops


Announcements
Current Split Catalog
New Candidates
Candidates Index
Expected Splits
Splits 101


Play Results
Split Predictions


Ask the Trader
Trading 101
Bookstore
Glossary
Dow Charts
FAQ


Splits
SEC Filings
Coming Economic Events
BoD Meetings
Earnings


Chat Room
Message Boards


Email Newsletter
Author Search
Advertise With Us
Change Password
Contact Us

Play of the Day (For Monday)
- WM INFO -
Quote
 
Profile
News
 
Interactive Chart
Sunday, June 17, 2001


WM - Washington Mutual $37.08 (+1.18)

Sunday's Comment:

Washington Mutual, more affectionately known as "WAMU", has its hands in many aspects of the mortgage and banking businesses. For this reason, it is more able to take advantage of a lower interest rate environment. In addition, its corporate clients are generally small to medium sized companies who are the first to step up their lending habits when interest rates drop. WM has also been able to cash in on the refinancing boom since it originates, sells and services mortgage loans. Turning to the chart, WM has just broken out of an inverse head and shoulders continuation pattern. Not only did it break up through its neckline at $37 on Friday, but it did so on good volume of 5.5 million shares. WM typically trades 3.7 million shares. Going forward, traders interested in initiating a position in WM could look to do so on a break above Friday's high of $37.34 on volume that puts the stock on track to do 4 million for the day. We are placing our original stop at $35.00 to limit our downside risk.


Picked On June 17th @ $37.08
Change Since Picked 0.00
Stop Loss @ $35.00 


Play of the Day Index

 


Copyright 2001 SplitTrader.com

Do not duplicate or redistribute in any form.
Privacy Statement   Disclaimer   Terms Of Service