stock watch, stock split

Begin Part 3 of 3

WATCHLISTS:

PRE-ANNOUNCEMENTS WATCHLIST: AROW, LE, LSTR, MUR, PDCO, SLM, STU and XL.

EXPD ($55.00; -2.69): Forecast to announce a split on 5-8-02 after hours with earnings or with the shareholder meeting (2:00 PT). After giving up the 50 day MVA (58.18) Monday, EXPD dropped hard today, closing just above the 200 day MVA (54.65). Volume was way up on the selling (890k; avg. 294k), and obviously this was not the move we were looking for going into the forecast.

BMS ($55.73; +0.72): We are researching a date. Now showing a double bottom after its recent surge. Keeping an eye on it to see if it forms a handle and sets up an upside play.

MHK ($64.84; -1.66): Forecast to announce a split at its May 16 shareholder meeting.
After pulling way off of its Monday high (68.45) to close, MHK predictably dropped back. Not catastrophic, holding the 18 day MVA (64.49) and volume was down at 401k (avg. 649k). Looking for a hold of the 18 day to set up a move going toward the split.

ABC ($76.06; -1.16): We are researching a forecast date. Holding in a consolidation on the test of the breakout. Today ABC gapped up and reversed on increased volume (1.24 million). Still looking for a move over 78, with volume of 1.2m or better. Stock and/or August $75 calls to buy (ABC HO).

MEG ($66.65; -0.20): Forecast to announce a split on 5-24-02 in conjunction with its annual shareholder meeting. Has pulled back on light volume, showing a doji today just under the 18 day MVA (66.98). Still showing an ascending wedge, and looking for a breakout. 69.59 on volume of 110,000. Stop: 64.90. Aggressive is over 68 on volume of 110k. Stock only.

BBBY ($35.60; -0.41): Researching a new date. Has tanked back, today taking out the 18 day MVA and prior highs at 36. Could be headed for a rendezvous with the 50 day MVA, at 34.67.

PRE-SPLITS WATCHLIST: Watching WTSLA (5/10), IFNY (5/14), GTK (5/24), IFIN (6/14), MI (6/15), PMI (6/18), RYL (5/31) and GG (TBA).

ZRAN ($30.99; -0.63): Splits 3:2 effective 5-23-02. Hit the put buy point, but pulled up from a low of 30.07 to close. If the market bounces we will watch for a test of the 200 day MVA (33.09), looking for failure at that level. Still targeting 27.50.

FAST ($85.18; +1.49): Splits 2:1 effective 5-13-02. Continued up today as volume remained strong at 473k. Hit the buy point, and we are looking for a continued move, targeting 95.

SU ($34.69; +0.28): Splits 2:1 effective 5-23-02. Turned around quickly after its bounce from the 50 day (34.52). Trying to hold now.

UPC ($49.85; +0.28): Splits 3:2 effective 6-7-02. Dropped back Monday, but held the 18 day MVA (49.60). Today it showed a doji, and we need to see it hold support and try a breakout. 50.68 on volume of 460k, with August $47.50 calls to buy (UPC FW). Stop: 48

RNR ($118.00; -0.95): Splits 3:1 effective May 31. Have gotten a bounce, but could not continue today. RNR rested, pulling back slightly as volume dropped to a low 108k. Still targeting 126 on this move. Support at the 10 day MVA is below at 116.16.

MCHP ($42.21; -0.40): Splits 3:2 effective 5-9-02. Hit the put buy point but recovered to hold the 50 day MVA at the close. With CSCO and QLGC news, we could get a gap up in the morning, and we are not going to hang around too long on a strong move up. The short-term MVA's are at 43.60.

PNRA ($71.30; -0.24): Splits 2:1 effective June 25. Looks good. A great move last see, and it has slowly dipped back on light volume. Today it tapped 70 at its low but recovered. Targeting 76. Can look for aggressive, additional positions on a move over 72.50 with June $70 calls to buy (UPA FN - 76 open interest), targeting 76.

STZ ($61.90; +0.73): Splits 2:1 effective 5-14-02. Made a nice breakout last week but is holding in a lateral consolidation. We will see if it can hold 60 and set up a continuation of the move.

FULT ($25.14; +0.01): Splits 5:4 effective 5-21-02. Still holding up, gapping up and pulling back, holding the 10 day MVA and recent highs. We are still waiting to see if it can mount a solid run, holding positions taken on the initial move.

FBC ($30.95; -0.95): Splits 3:2 effective June 1. On the news of the split FBC gave another huge surge, running up on big volume. It hit 34 Monday and turned back, falling again today but on much lighter volume (112k). Protecting positions, with the 10 day MVA below at 30.

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 ACDO, AHC, CPS, CYN, DHR, DIAN, DRYR, ESI, ETN, GOSHA, HB, INVN, JCI, KRB, MMM, STI, TGH, THC and TGIC.

APPB ($40.45; +0.16): Holding over 40 after the second surge on the breakout. Volume has dropped nicely as the stock has held with consecutive dojis. Holding existing positions for another surge.

ASD ($75.40; +1.39): Volume remains weak, as ASD reached to a new high today (76.50) but pulled well off to close. Holding existing positions, exercising care from a breach of the 18 day MVA (73.90).

AZO ($77.00; +1.10): Tried a move today, but volume was not there. Could need some more time to consolidate and form a handle; it is drifting up a bit on low volume, and we would prefer a downward drift. The 18 day MVA is below at 74.77.

ETH ($40.45; +0.27): Holding at the 18 day MVA (40.20), and we will look for it to hold and form a handle to the double bottom.

FITB ($67.65; 0.00): Dropped back Monday, but volume was not strong and FITB is holding. Still in something of an ascending wedge, holding support at the 50 day (67.08). The breakout is 69.80 on volume of 2.3m. Stop: 66.50. August $65 calls to buy (FTQ HM).

MTG ($71.52; +0.35): Made a good bounce from the 50 day (69.54) last week, but lost steam and is holding on in a lateral consolidation over the 18 day MVA (71.19). Looking for a hold and a bounce to resume the move, targeting 80. The aggressive can look at a move over 73 on volume of 700k, with June $70 calls to buy (MTG FN).

PII ($74.98; -1.02): Looks to be forming another flag pattern. Since its March breakout, PII has formed two flags and broken out solidly from each. It is consolidating again over support (10 day MVA at 74.43), pulling back a bit today. Flags often occur in threes, we will see if this one develops with a bit more of a pullback.

RCII ($60.63; +0.11): Made a big gapping breakout with earnings, and RCII is holding in a low-volume consolidation over 60. We could still see a test back as the stock has been unable to continue its move.

RUS ($37.16; +0.21): Great breakout but we are protecting profits at this point. The move has been very strong but has slowed a bit, and off of today's doji we are wary of a pullback that has strength of volume behind it. After such a strong move we do not want to lose the gains.

SRCL ($72.33; -0.42): SRCL powered up to a new all-time high of 73.85 last week. It is losing momentum now, moving on lighter volume and showing a third consecutive doji today. Protecting profits on short-term positions, but on a pullback will look for continued low volume and a hold of 68 (March highs and the 10 day MVA).

STJ ($83.95; -0.30): Reached up to 85.78 today, but pulled back on very large volume (1.6m). Looks like a pullback from here after this move, which battled its upper channel trendline, with the 10 day MVA as recent support on this trend at 82.53.

POST SPLITS WATCHLIST: Watching ACS, AMAT, APOL, DF, ICUI, MKC, OPTN, SONC, UOPX and WLP.

ABM ($18.75; -0.67): Splits 2:1 effective 5-7-02. Fell back on the split, giving up its 18 day MVA (18.94). Not a good move, and protecting any remaining positions.

CHBS ($37.25; -0.35): Holding the 18 day MVA (18.94), showing a doji today. In the consolidation, volume continuing to be low, and does not appear to be ready for a big move at the moment.

CHS ($36.21; +0.02): Tried to break out of something of a reverse head and shoulders, but pulled back quickly. We will see if it can set up and make a stronger move.

JEC ($41.00; +0.79): Continues up along its trend, today with strong volume. Continuing to ride positions toward the target of 44.

PFCB ($38.40; +0.25): Split 2:1 effective 5-2-02. Broke out nicely last Thursday, but the continued move is not showing much momentum. Today PFCB showed a doji as volume dropped again to 449k. Again, this is one that we are looking at to show post-split strength, so we will ride positions on a lower-volume test of support (prior consolidation highs at 37 and 18 day MVA at 36.48).

PRHC ($23.95; -0.70): Split 3:2 effective 5-1-02. Struggling a bit to hold the 18 day MVA (23.81) here, testing the breakout. Volume has been light, including on today's move that took it to 25.32 before reversing. We will see if it can settle down.

WTNY ($38.38; +0.33): Split 3:2 effective 4-10-02. Volume has been strong on this post-split push up. Slowing now, and looks poised to pullback, and we will look for a hold of the 37 range (10 day MVA at 37.13).

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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