stock watch, stock split

Begin Part 3 of 3

WATCHLISTS:

PRE-ANNOUNCEMENTS WATCHLIST: AROW, BRL, EASI (5/27), EXPD (5/8), GTK, LE, LSTR, MUR, PDCO, SLM, STU, SUI and XL.

BBBY ($37.17; +0.72): Researching a new date. Last week broke from an ascending wedge which move also took it out of its five-month range. It is a bit erratic at the moment, pulling back to test the move quickly but bouncing again today and hitting the aggressive buy point, with volume up and about average at 3.2 million. Playing the quick move to 42 with options, and riding positions at this point.

CTAS ($51.77; +1.50): Working on a new date. Trying to do something, today moving up as volume reached over the average (1.16m; avg. 986k) for the first time in a while. A bit erratic, as this move follows an abrupt drop off of the recent high (52.26) on the weak breakout from the reverse head & shoulders. The aggressive can look at a move over that high on increased volume, targeting 60 with August $50 calls to buy (NQQ HJ).

XL ($94.35; +2.24): Did not make the drop or a weak test of the 50 day (93.76), instead showing a strong recovery over that level today (volume up to 931k; avg. 824k). We will see if the move stalls and it sets up again.

PRE-SPLITS WATCHLIST: Watching OPTN (5/1), IFNY (5/14), BBY (5/13), and PNRA (5/13).

PRHC ($38.51; +1.72): Splits 3:2 effective 5-1-02. Another nice move up! PRHC has made a great pre-split run, and now we will carefully watch through the split, protecting profits if we see strong selling.

PFCB ($72.45; +0.93): Splits 2:1 effective 5-2-02. Still holding in a consolidation over the 18 day MVA (71.04), moving up a bit today with a big spike in volume (554k). The aggressive can expand holdings on a move over 73 going into the split, with the breakout on a move over 74.16. Still targeting 79 (39.50 post-split). A strong stock that we expect to show strength post-split.

ABM ($38.30; +0.48): Splits 2:1 effective 5-7-02. A decent consolidation, but as long as it holds support, so we will continue to look a strong breakout move to 38.95 on volume of 120,000, with stock.

MCHP ($44.50; +0.86): Splits 3:2 effective 5-9-02. Tried a move today, but pulled back from 46.55 to close on much higher volume (3.58m). We will handle techs with care, but still watch for opportunities.

WTSLA ($35.63; -0.43): Splits 3:2 effective 5-10-02. Hit the aggressive buy point on its 50 day MVA (34) bounce, but pulled back intraday to close below its short-term MVA's (36). Off of this action it looks like a potential test of the 50 day, but we have a bit of time for a pre-split run.

FULT ($24.68; -0.22): Splits 5:4 effective 5-21-02. FULT continues in its consolidation, today dipping back with volume suddenly huge at 307,300 (avg. 94k). We continue to look for the breakout at 25.40 on minimum volume of 1.27 million (average 94,600), with stock.

RYL ($110.00; +0.70): Splits 2:1 effective May 31. Trending up nicely, today showing a loose doji. It could come back to test support (18 day at 102.57), and we could get a couple of more bounces from the short-term MVA's going into the split (has made two jumps since its last test of the 50 day).

IFIN ($73.64; +1.93): Splits 2:1 on or about June 14. Gave up the nice consolidation and dropped, giving up the 50 day (73.52) Monday. Looked like a put, and still could be, but the rebound today was on big volume (295k), so we will see if the upward momentum continues.

MI ($63.65; +0.41): Splits 2:1 effective 6-15-02. Pushed up again today, and we are riding positions as MI makes its way toward the high of 64.24.

PMI ($81.12; +1.32): Splits 2:1 effective 6-18-02. After giving us the great breakout move earlier this month, PMI pulled back last week but looks to have support at the prior highs, testing those levels today but pushing back up with a big spike in volume (431k). The aggressive can play a move over 82.50, with June $75 calls to buy (PMI FO - under 100 open interest).

ANN ($43.47; +0.27): Splits 3:2 effective 5-21-02. Has fallen back but is holding support at the 50 day MVA (42.67). We will see if it can generate a bounce.

GG ($17.81; -0.77): Splits 2:1 on a date TBA. GG could be forming a handle here. We will look for it to hold the 18 day MVA (17.29) and set up a play.

CONTINUING CANDIDATES WATCHLIST: When splits are not announced, we will keep the best split prospects on the report rather than continue to carry all of them in case there is a an unexpected announcement. We will continue to monitor the stocks that are trimmed and add them again when we ascertain a revised split announcement date. These include AHC, CPS, CYN, DHR, DIAN, DRYR, ESI, ETN, GNSS, GOSHA, HB, INVN, KRB, MMM, RNR, STI, TGIC and YUM.

ACDO ($64.73; +3.54): Did not get the announcement, but after making a strong recovery after an initial drop on earnings, ACDO powered up and continued today, hitting a new high. It also hit our initial target, but in the target alert we indicated that ACDO was showing a lot of strength (volume 1.49m; avg. 680k). Continuing to ride at least some of the positions on continued strength.

APPB ($39.04; -0.54): Made a nice breakout move, but as predicted by Monday's tight 'star' doji, APPB pulled back today. Volume was lower (439k) and it held prior highs (38) at its low of 38.50, so good action. We will look at new positions on a hold of support and renewed move. Targeting 46.

ASD ($74.70; +1.83): Still in a decent consolidation, rising today and hitting the buy point but not having the volume (268k, were looking for 680k). We can still look at positions with stock and/or July $70 calls (ASD GN) if we get the necessary strength on the move.

AZO ($76.00; +1.25): Got the strong pullback, and is now back into the range of the handle. Not looking to ride any remaining positions through the 18 day MVA (73.73). Still viable for a run to 85 if it can hold here.

ETH ($41.21; -0.09): In a double bottom, and after pulling well off its high today for a loose doji, we could get the formation of a handle here.

FBC ($29.60; +0.95): Wow - just continues to run, so we continue to ride. Today it moved up with much stronger volume. It has made quite a move without a rest, so we are pulling up stops to protect profits. The 10 day MVA is at 27.53, with the 18 day at 26.63.

FITB ($68.59; +1.01): Bounced today from the 50 day (66.80) on increased volume (1.94m; avg. 1.79m). The breakout is 69.80 on volume of 2.3m, with August $65 calls to buy (FTQ HM). Target is 80.

KLAC ($58.97; +1.05): Bounced up the last two sessions, pulling back from the intraday high of 60.35 today. Still looking for a drop back to 54 on the put.

RCII ($60.30; +5.05): Great move on earnings, gapping up and hitting 62.46. Volume was huge, and RCII tested back to 58.30 intraday but managed to recover. Protecting existing positions, and we can look at new positions on a successful test back toward former highs at 56.

RUS ($36.50; +1.40): Great move! RUS has shown strong volume on its breakout, and is heading up toward the target at 38.

STJ ($83.21; +2.74): Dropped back Monday, but blasted up today out of the erratic handle to its cup pattern. Riding positions with care, as the stock is over its upper channel trendline.

TGH ($100.66; +1.79): Gapped up massively on news of its being acquired by Anthem. Time to think about taking profits.

THC ($73.37; +1.67): On guard to protect profits after the steady, extended move up along the short-term MVA's. THC dropped back to the 18 day Monday, but held support and bounced today. Volume was low, so prepared for a possible breach of support.

POST SPLITS WATCHLIST: Watching ACS, CHBS, CHS, DF, ICUI, MKC and WTNY.

APOL ($38.34; +1.01): Split 3:2 effective 4-26-02. Caught support at the 18 day (37.24) and bounced with the rally, moving on average volume of 1 million. Looking for APOL to hold the 18 day post-split and continue its trend; on a strong drop through the 18 day we will drop any short-term positions, but look at a possible test of the 50 day to re-load.

UOPX ($32.16; +0.76): Split 4:3 effective 4-26-02. On the split UOPX peeled back, but it held the 18 day MVA (30.71) and has bounced on lighter volume. Another we are watching for post-split strength and a continued trend, but will not ride positions if it cannot hold onto the 18 day.

WLP ($75.08: +1.57): Split 2:1 effective 3-18-02. WLP has been great on this move, running over $10 since its breakout test in mid-April. Today it pushed up again, although volume again dropped to 1.5 million (avg. 943k). Still looking for a bit of a drop. On some selling back we will consider taking profits on short-term positions, while still riding longer-term. The 10 day is recent support at 72.25, with the 18 day at 70.

Good Investing!
Jon L. Johnson and the Stock Split Report Staff.

All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners of Online Investment Services, LP or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.

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