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LTR - Loews Corporation Week Ended: 3/17/01
Price 109.20 P/E Ratio 6.16 52 Week High 117.10
Last Week + 7.66 Earnings Date 05/17/01 52 Week Low 38.25
Picked At 106.40 Date Picked 2/27/01 Sector Financial
Current 109.20 Open 109.67 Change -2.44
Low 108.86 High 112.70 Volume 330,600

Company Description

Loews Corporation is a holding company whose subsidiaries are engaged in property, casualty and life insurance, the production and sale of cigarettes & watches, and the operation of hotels and oil and gas drilling rigs. For the FY ended 12/31/00, revenues fell 1% to $21.34B. Net income before accounting change totaled $1.88B, up from $521.1M. Results reflect lower insurance premiums, offset by decreased insurance claims and policyholders% benefits.

Play Description

February 27, 2001

Loews Corporation is a diversified holding company that provides property, casualty and life insurance, hotel operation services, and offshore oil and gas drilling services. The company also manufactures cigarettes, watches, and clocks. The stock has been on fire over the past year. Shares of LTR hit a four-year low of $38.25 last March. On Tuesday, the stock hit an intra-day high of $106.90, representing a 178% gain and a new three-year high. On February 20th, the company announced a 2:1 split, payable on March 20th, and we believe that LTR has started its split run. Going forward, support is the February 16th intra-day high of $105.40 with additional support at Monday’s intra-day high of $103.06. Resistance is the 12/5/97 close of $107.56 and then the 11/21/97 close of $108.50. Traders may consider entry points on a bounce off of $105.40 or a breakout above $107.56 on volume of at least 225,000 shares by noon. We plan to place stops at $98.50 to limit potential losses.

Picked on February 27th @ $106.40
Change since picked +0.00
Stop Loss @ $98.50


March 13, 2001

Loews Corporation was met with heavy resistance this week after hitting an all-time of $117.10 on Friday. On Tuesday, shares of LTR traded to an intra-day low of $112.90 before bouncing back late in the session. We were stopped out at $113, so we are dropping LTR tonight.

Picked on February 27th @ $106.40
Profit/Loss = + 6.60 (+6%) (Stopped Tuesday @ $113.00)
Best Profit = +10.70 (+10%)

March 11, 201

Loews Corporation is a diversified holding company engaged in the sale of insurance, cigarettes, watches, clocks, and oil drilling services. On Friday, shares of LTR hit an all-time high of $117.10 before pulling back to a close of $116.77 on volume of 467,000 shares. The stock is gaining momentum despite weakness in the market. LTR has made 3 consecutive higher highs coupled with 3 higher lows and the stock is currently at an all-time high. Hopefully, LTR will continue to move higher as we are now just 7 trading days away from the 2:1 split, payable on March 20th. On the slightly negative side, LTR has gained 18% over the past two weeks so we may see some profit taking in the near future. Until then, support is Friday’s intra-day low of $114.75 with stronger support at $113.21, the 5-dma. Resistance may show up at $118 or even $120. Traders may consider opening new positions on a bounce off of $114.75 or a breakout above $118 on volume greater than 225,000 shares by noon. We have moved our stops up to $113 to lock in additional gains.

Picked on February 27th @ $106.40
Change since picked +10.37
Stop Loss @ $113.00


Copyright 2001

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