us stock market, stock split

Begin Part 3 of 3

ATK (Alliant Techsystems--$108.78; +1.49; optionable): Aerospace/Defense. Splits 3:2 on or about June 11.
http://biz.yahoo.com/p/a/atk.html
STATUS: Continued back up from the 50 day MVA (104.56), breaking through the short-term MVA's (107.28). Has made a nice little bounce, but is up against the recent resistance from its prior move up, at 110. ATK tapped that level several times last week before dipping back to the 50 day, and Friday pulled back from an intraday high of 109.64. On a move over this key resistance we can look at adding to positions or taking new ones, looking for a solid last move into the split. Targeting 120, but watching the high at 115.40.
PLAY: 110.25, with August $105c to buy (ATK HA). Stop: 103.75

IFIN (Investors Financial--$77.26; +0.75; optionable): Asset management. Splits 2:1 effective 6-17-02.
http://biz.yahoo.com/p/i/ifin.html
STATUS: IFIN has been struggling to sustain a move off of its 50 day MVA (74.91). It has made some promising starts, but has quickly pulled back from the 77-78 range. Last week IFIN again recovered after dipping below its 50 day, but has held the initial move over the support of the 18 day MVA (75.91). Friday IFIN reached up to 77.92, pulling back a bit to close. We will see if it can make the move this time, looking for a move over 78. Target going into the split: 86 (there is some resistance from prior price levels at 80).
PLAY: Aggressive: Over 78, with July $75c to buy (FLQ GO). Stop: 74

CONTINUING CANDIDATES BEST PLAYS: MTG could be up to something
1) EXPD - Announced the split!
2) WEN - Surged on acquisition news
3) AHC - Looks poised to move
4) MGA - Weak test could lead to a strong drop

EXPD (Expeditors--$59.10; -0.25; optionable): Air delivery. Announced a 2:1 split after hours Friday, effective 6-25!
http://biz.yahoo.com/p/e/expd.html
STATUS: EXPD struggled for a good while in a reverse head & shoulders, finally drawing back in April and falling through its 50 day MVA. Early this month EXPD made a solid bounce back over the 50 day, but has continued to have problems at 60-61. However, it has held the 50 day (58.52), forming a pennant over the last few weeks. Friday EXPD tapped back to the 50 day at its intraday low, but managed to recover, with volume spiking up to 412,600 (avg. 269k). With the announcement news behind it, we look for EXPD to break from the pattern with good volume. Target: 73 (high 65.92)
BUY POINT: 60.75 on continued strong volume (min. 400k). Stop: 57.50
POSITION: Stock and/or August $55c to buy (URP HK - .75 delta, 14 OI; 420 OI for the $60's, .51 delta).

WEN (Wendy's--$37.97; +1.97; optionable): Restaurants. Working on a new announcement date.
http://biz.yahoo.com/p/w/wen.html
BACKGROUND: Based upon our research it does not appear that WEN has ever split its stock. The annual shareholder meeting was 5-1-02 at which no additional shares were authorized. The company has sufficient shares for a 3:2 split
STATUS: WEN was causing concern after falling from its ascending wedge and then giving up its 50 day MVA (36.30) on increased volume Thursday. However, the company announced the acquisition of Baja Fresh, a fast-casual restaurant (with good food, we might add), and the news went over very well. WEN gapped up and then continued to run, with volume kicking in to a very strong 1.97m (avg. 786k). The move brings WEN back up toward its all-time and former pattern high of 38.50. Looking for the breakout. WEN has been on a strong trend and with this reversal off of the 50 day we could see a solid run. Target: 45
BUY POINT: 38.60 on continued strong volume. Stop: 35.90 (7%)
POSITION: Stock and/or September $35c to buy (WEN IG).

AHC (Amereda Hess--$82.25; +0.18; optionable): Oil and Gas.
http://biz.yahoo.com/p/a/ahc.html
BACKGROUND: Last announced a split on 7-21-80. Base upon our research we are unable to determine the price at the time of the split announcement. The company has sufficient shares for a 2:1 split.
STATUS: AHC held the 18 day MVA (81.71) and prior pattern highs Friday, showing a bullish 'shooting star' doji on increased volume (790k; avg. 640k). AHC has dipped back a bit since making a move out of small cup pattern, which pattern actually was a handle to a larger cup pattern dating back to September. Looking for a bounce and run. AHC is showing excellent money flow and relative strength, and good buying. Still targeting 96. BUY POINT: 84.30 on volume of 960k. Stop: 79
POSITION: Stock and/or August $80c to buy (AHC HP).

MGA (Magna International--$71.00; +1.01; optionable): Auto parts.
http://biz.yahoo.com/p/m/mga.html
STATUS: MGA gave up the 50 day MVA (72.71) Wednesday after having flirted with that level for several weeks, unable to make a move after the push it got on the announcement news. It gapped down Thursday on big volume but off a doji rebounded, moving on light volume Friday (317,700; avg. 346k) as it pulled back from the intraday high of 71.75. Looks weak, and the weak test toward former support points to a possible continued drop. Target on a put: 65 (200 day at 64.38).
BUY POINT: Below 70 on above average volume. Stop: 73
POSITION: August $75 puts to buy (MGA TO - 32 OI, -.67 delta).

POST-SPLIT BEST PLAYS:
1) COCO - Solid 50 day bounce could give us more
2) FAST - Weak test of broken support
3) MKC - Tried the move
4) LLL - Looking for a strong bounce

COCO (Corinthian Colleges--$27.43; +0.53; optionable): Education & training. Split 2:1 effective 5-28-02.
http://biz.yahoo.com/p/c/coco.html
STATUS: COCO has drawn gradually back to its 50 day MVA (26.79, near its early April price spike), and is holding up after testing through that level at intraday lows several sessions in a row. Friday COCO bounced back up, reaching 27.83 (18 day MVA at 27.67) before pulling back a bit to close. Volume was solid on the bounce at 394k (avg. 310k), and if it can continue the strength on a move up, we will look at playing the continued bounce. Target: 34 (high from earlier this month at 29.63).
PLAY: Over 28 on increased volume, with stock and/or August $25c to buy (UCS HE). Stop: 26.20

FAST (Fastenal Company--$39.51; +0.52; optionable): Home improvement stores. Split 2:1 effective 5-13-02.
http://biz.yahoo.com/p/f/fast.html
STATUS: Made double tops in April-May and then failed on a third attempt to reach the prior highs (over 43). After that post-split failure FAST retreated to the 50 day MVA (40.08), could not hold its and plunged through Wednesday. It dropped Thursday on strong volume, but reversed with the market after hitting down to 38.36, and Friday rebounded a bit, but volume was down (318,400; avg. 283k), and FAST pulled back to close after tapping near the 50 day. Looks like a failed test, and on a drop we can look at a put down to a target of 35 (200 day MVA at 34.18; there is potential price support at 36).
PLAY: Aggressive: A drop through 39 on increased volume, with August $42.50p to buy (FQA TV - 67 OI).

MKC (McCormick & Company--$26.26; -0.04; optionable): Food & beverage. Split 2:1 effective April 9.
http://biz.yahoo.com/p/m/mkc.html
STATUS: Still set up. The past two sessions MKC tried to move but pulled back to close, Friday with much lighter volume (216k; avg. 256k). Another 'shooting star' doji in the point of a pennant pattern formed since its split in April. MKC made a nice bounce last week from the 50 day (25.53), clearing the short-term MVA's (18 day at 26.06), and now has pulled back to that support, showing a nice consolidation. We continue to look for MKC to try a move from this pattern, looking for stronger volume. The high (April) is 27.25. Target: 32
PLAY: Over 26.85 on volume of 360k, with stock and/or September $25c to buy (MKC IE).

LLL (L-3 Communications--$63.10; +1.00; optionable): Split 2:1 effective 5-21-02.
http://biz.yahoo.com/p/l/lll.html
STATUS: Tried the bounce Friday, reaching over our buy point on good volume (1.13m; avg. 781k). The market pulled it back to close, right on the short-term MVA's. Not a bad attempt at a 50 day MVA bounce (50 day at 61.40), and LLL still looks poised for a stronger move. LLL has been quite strong, making solid runs along its short-term MVA's between periodic tests of the 50 day. We will look for support to hold and for LLL to bounce and run. The high from earlier this month is at 66.78. Still targeting 72.50.
PLAY: Over 64.40 on continued strong volume of 1m or better, with October $60c to buy (LLL JL).

WATCHLISTS:

PRE-ANNOUNCEMENTS WATCHLIST: BMS, BRL, CTAS, EDMC, MUR, SLM, STU and XL.

PDCO ($50.41; -0.19): Researching a date. Higher volume doji indicates a pullback, looking for a hold of the 49 range. Targeting 57.

LSTR ($104.50; -0.96): Researching a new date. Tested back on sharply higher volume, but held over prior highs and pulled back up to close. To add to positions we are looking for a continued hold of 105.

ABC ($77.09; -1.86): We are researching a forecast date. Pulled back Friday, but closed on the recent support of the 18 day MVA. Volume was lighter and below average, and we will see if it holds and sets up another bounce. After a strong breakout like ABC's, we can see three or four solid bounces along the 18 day before a return to test lower support.

PHM ($54.23; +0.90): Working on a new announcement date. Bounced back up from the 18 day MVA (53.33) Friday, a good sign as we were looking for PHM to hold that support, keeping intact its string of higher lows in the wedge. The breakout is 56.30 on volume of 1.2M, with stock and/or October $50c to buy (PHM JJ). Target 67.45. Stop 51.

DLX ($45.24; +0.37): Researching a split announcement date. After giving up the 50 day MVA (45.02) Thursday, DLX bounced back over Friday, but it could only manage a doji on continued below average volume. We will see if it holds on and shapes up in the handle.

JEF ($47.04; +0.15): Researching a new announcement date. Dropped out of the double bottom with handle, taking out the 50 day MVA (47.39) Thursday. It tried to recover Friday, but pulled back off of its intraday high of 48.50. Off of the 'shooting star' doji JEF could still make a bounce, but we need to see more before we venture into positions.

TFX ($57.45; +0.17): Forecast to announce a split on 7-17-02 with earnings. The company has not confirmed a time for the release. Holding up at the 18 day MVA (57.40), showing another doji on light volume Friday. Need a recovery to set up a breakout and buy. Over 59 on volume of 170k, with stock.

PRE-SPLITS WATCHLIST: Watching FBC (6/3), SRCL (6/3), ALC (6/4), UPC (6/7), JNC (6/11), MI (6/15), PMI (6/18), and PNRA (6/25).

ESI ($49.40; +0.66): Splits 2:1 effective 6-6-02. ESI has pulled back to test the 50 day MVA (48.58), and Friday pushed back up from that level. It closed just below the short-term MVA's (49.75). Somewhat aggressive going into the split this week, but on a move over 50.10 we can look at positions on a possible quick play with July $45c to buy (ESI GI). We can evaluate riding through the split date if we are seeing a lot of strength.

APPB ($39.01; +0.14): Splits 3:2 effective 6-12-02. Closed the week with another doji over the 50 day 38.50). Still looking for a bounce up from here for a potentially quick play. The aggressive move is over 39.75 with August $35c to buy (AQB HG).

KSWS ($46.08; +0.16): Splits 2:1 effective June 22. KSWS continues to hold the short-term MVA's (45.60), closing with yet another doji Friday. Could go either way now. The aggressive move remains over 47 on above average volume (90,200) with stock and/or July $40c to buy (SWU GH - 46 OI).

JNC ($57.10; -1.45): Splits 2:1 effective 6-25-02. Did not get the bounce, as JNC breached the 50 day in a big way.

STJ ($84.40; -1.11): Splits 2:1 effective June 29. Looking a bit choppy as it bounces between the 18 day MVA (83.93) and recent intraday highs near 86. After the promising bounce Thursday, STJ pulled back Friday, still holding support. Still riding existing positions on a hold of support, and can look at new ones if we get the strong bounce through 86.

THC ($74.50; +0.30): Splits 3:2 effective June 29. Slowed Friday on its nice push up from the 50 day (70). Could get a test lower toward 73, as it is at the resistance of the recent high of 75.45. Still riding positions to the target of 86.

BER ($58.97; +0.50): Splits 3:2 on or about July 3. Friday's weak push up stalled at the short-term MVA's. Still looking for the upward swing to set up the move over the pattern high of 61.20 on volume of 160k, with October $55c to buy (BER JK - 62 OI).

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 ASD, BBBY, CYN, DIAN, EASI, ETH, ETN, GNSS, GOSHA, INVN, KLAC, KRB, KSS, MEG, MMM, RCII, RUS, STI, TGH, and TGIC.

ACDO ($53.94; +0.24): Still struggling with the 10 day MVA (54.47), showing another, looser doji on stronger volume. Holding on stubbornly, and the aggressive play remains a move back through 53 on increased volume of 800k, with August $55p to buy (DZU TK).

AZO ($81.85; -0.71): After the solid move on the breakout test Thursday, AZO tried to continue moving Friday, but volume fell off a bit (remaining just above average) and AZO fell back with a loose doji. Riding positions and looking for a continued hold over 81.

CAKE ($38.17; +0.01): Held the 38 level again to close with a loose doji as volume dropped to just below average. Still watching for more of a bounce to see the set up a possible recovery or put play.

DHR ($69.62; +1.76): After dropping through the recent lows (and put buy point), DHR is again trying a test higher, making a bounce Friday back toward the 50 day (70.38) on volume that was just below Thursday's strong selling volume. Still riding positions and looking for a failure of this move in the range of the 50 day. Target 63.

DRYR ($43.93; +0.11): Closed the week by again pushing up toward the 50 day (44.60), but again pulled back to close with a doji under that resistance. Still looking to the downside, and with a drop through 43 on volume of 200k the aggressive can look for September $50p to buy (QDF UJ - no OI as of yet).

FITB ($65.17; +0.17): Following the strong bounce back Thursday, FITB showed a loose doji on continued very strong volume Friday (2.9m, average
1.73m). The high volume doji could indicate a continued drop. The 10 day is ahead at 65.60.

MHK ($65.52; -0.53): Little change Friday, as MHK made another weak test up tot the short-term MVA's (66.80) on steady and below average volume. If it can continue to hold over the 50 day (XX) and recent pattern lows (64 - from the late April-May consolidation), it could set up another run.

MTG ($72.78; +0.80): The handle to the cup (dating back to August) continues to bounce along the 50 day MVA (70.64), but Friday MTG showed some volume (579k; avg. 486k) as it reached up to 73.60 before pulling back to close. We will see if it can hold the move without retreating back again, setting up a breakout over the recent high of 74.40.

PII ($69.54; +1.87): Testing the 50 day MVA (69.54), that level that PII crashed through Wednesday. We will see if it can push back through, although volume was down to 182k Friday (average 171k). We will still be ready on a drop for a possible put. On a drop through 67.50 on increased volume, July $75p to buy (PII SO - no OI as of yet).

POST SPLITS WATCHLIST: Watching ABM, ACS, AMAT, APOL, ANN, BBY, CHBS, CHS, DF, FULT, GG, GTK, JEC, MCHP, OPTN, PFCB, RNR, RYAN, RYL, SONC, STZ, SU, UOPX, WTNY, WTSLA and ZRAN.

AMAT ($22.18; -0.41): Gapped up and made an initial surge with Friday's positive economic news, but drew back steadily with the market to close. We were looking at a possible aggressive play on a strong move, but we will wait and see if it holds the 200 day MVA (21.75) and sets up another go.

PRHC ($25.46; -0.08): Good move Thursday as volume finally kicked in, but as expected it needed a rest as it tapped toward its recent high (26.15, from earlier this month), and Friday PRHC pulled back a bit on lighter volume. Looking for it to hold over 25 and set up a breakout move.

WLP ($74.16; -0.76): Rested a bit Friday after its recent steady recovery. Solid volume helped Thursday's move, and the subsequent pullback was mellow, so WLP could be setting up for something here. We will give it some more sessions.

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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