stock split, buy stock

Begin Part 3 of 4

PRE-ANNOUNCEMENTS REMAINING PLAYS
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ADVP (Advancepcs--$66.08; +1.47; optionable): Health services. We are working on a date for this one.
http://biz.yahoo.com/p/a/advp.html
BACKGROUND: Last announced a 2 for 1 split on 10-12-99 at a stock price of $50. The annual shareholder meeting was on 12-7-00 at which time no additional shares were authorized. The company does not have sufficient shares for a 2 for 1 split, but does have sufficient shares for a 3 for 2 split.
STATUS: ADVP just keeps moving, making another new high Friday. Volume, however, continues to be an enemy of the move, coming in very low at 481,500 (average 888,000). Volume has been low for several weeks on the stock, which broke out from an ascending wedge in March and then broke out this week from a flat base formed over that pattern. The low volume is a recipe for a pullback, and the more extended it gets on low volume moves up the more severe the drop could be. Protect profits, and we will see if any selling that comes along stays tepid on a pullback, looking for such a retrerat to hold the 64 range.
BUY POINT: A move up from here or after a light-volume pullback that holds 63-64, looking for above average volume.
POSITION: Stock and/or June $60 calls to buy (QVD FL).

FDC (First Data--$67.06; -1.15; optionable): Working on a forecast date. Earnings were announced on 4-12-01.
http://biz.yahoo.com/p/f/fdc.html
BACKGROUND: Last split was a 2 for 1 on 11-18-96 at a stock price of $80. The annual shareholder meeting was on 1-11-01 at which time authorized shares were increased. The company has sufficient shares for a 2:1 split.
STATUS: FDC made a big breakout move Wednesday after having to come back again to test the breakout from its saucer pattern, but has come right back again. At its intraday low Friday it tapped its 10 day MVA at 66.46, finally closing in the range of some recent intraday levels made during the recent pullback. Although the selling back was sooner than we would have liked after the strong move, it was presaged by Thursday's doji, and volume was not bad on the move, coming in slightly higher but below average at 1.68 million; average 1.85 million). We will see if it can hold here, gaining a bit of strength again for a strong move back up over the breakout high of 68.76.
BUY POINT: After holding here, a move back over 68 on above average volume.
POSITION: Stock and/or August $65 calls to buy (FDC HM).

LEN (Lennar--$43.10; +0.15; optionable): Materials and construction. Forecast to announce a split on 6-19-01 in conjunction with earnings. At this time the company cannot confirm this date.
http://biz.yahoo.com/p/l/len.html
BACKGROUND: Last announced a 3 for 2 split in 1994 at a stock price of $33. The annual shareholder meeting was on 4-3-01 at which time no additional shares were authorized. The company has sufficient shares for a 2 for 1 split.
STATUS: Showing weakness now as it has given up its up trendline (connecting lows from mid-March to early May) and is struggling to hold recent support at the 18 day MVA (43.11). The stock had made a nice, steady move up after testing a breakout from a saucer pattern in late March, and is now struggling to hold support at the early May low (42; the 50 day MVA is at 41.33). The stock tapped down to 42.15 at its low, moving on volume that continued to be weak (486,100; average 804,000). We will need to see a strong recovery for positions, but there is plenty of time before the forecast.
BUY POINT: Aggressive A move over 45.25 on increased volume near the average.
POSITION: Stock and/or August $40 calls to buy (LEN HH).

CORS (Corus Bankshares--$51.43; +0.03; no options): We are working on a new date.
http://biz.yahoo.com/p/c/cors.html
BACKGROUND: Last announced a split in 1995 at stock price of $44. The annual shareholder meeting was on 4-26-00 at which time no additional shares were authorized. The company has sufficient shares for a 2 for 1 split.
STATUS: Banking. Has been moving in a gradually descending consolidation, holding over its 18 day MVA (51.32) as it moves in something of a pennant pattern. Volume has steadily tapered the last few sessions as the stock has been unable to make any kind of move up. We will need to see a break over recent highs to be interested.
BUY POINT: Over 52.50 on above average volume (21,700; Friday 4200). Breakout of the pattern: 53.88.
POSITION: Stock.

PRE-SPLITS REMAINING PLAYS: With these stocks we keep an eye out, waiting for the start of a pre-split run.

IVX (Ivax--$35.42; -0.48; optionable): Generic drugs. Splits 5:4 on May 21.
http://biz.yahoo.com/p/i/ivx.html
STATUS: Splits Monday, and is not looking too good. The stock broke from a cup pattern in late April, making a rather abrupt climb up the right side of that base, but pulled back early this month in a ragged handle. It has given back its 18 day MVA now (35.81), closing at its low Friday, on the level of recent lows. We will see if it can hold for a move post-split.
PLAY: Aggressive A move back over 36.50 on increased volume (1.24 million Friday; average 1.02 million), with stock and/or June $30 calls to buy (IVX FF).

CNL (Cleco--$47.20; +0.09): Utility. Splits 2:1 effective 5-22-01.
http://biz.yahoo.com/p/c/cnl.html
STATUS: Made a strong move up off of its tight consolidation over its 50 day MVA (45.88) Wednesday, but has followed it up with three consecutive tight dojis. It has reached up to the 48 range two of those sessions (47.81 Friday), and with the split Tuesday it has one more session to make a move. The 10 day MVA is below at 46.59.
PLAY: Aggressive On a move up from here, stock.

STT (State Street--$111.03; -0.72; optionable): Banking. Splits 2:1 effective 5-31-01.
http://biz.yahoo.com/p/s/stt.html
STATUS: Made the move we were looking for Wednesday, blasting up out of crouching positions in its pennant-type handle. It is now holding just under its 200 day MVA (112.24), making a second consecutive move over that level (high of 112.70) before pulling back to close. Volume has been somewhat weak (down to 631,000; average 1.05 million), especially for a breakout, but as a pre-split we look for stocks to move with a lot of momentum that is not necessarily dependent on heavy volume. From here we will need to see a strong break over the 200 day for more positions, and could see a test of the breakout back at 109 before it mounts another move. Protect profits with comfortable stops.
PLAY: Aggressive A move over the 200 day MVA on increased volume, with stock and/or June $110 calls to buy (STT FB). Pullback A move up after a lighter-volume pullback that holds the 109 level, with stock and/or June $105 calls to buy (STT FA).

DGX (Quest Diagnostics--$129.00; +0.74; optionable): Health services. Splits 2:1 effective June 1.
http://biz.yahoo.com/p/d/dgx.html
STATUS: A fantastic move this week as the stock jumped up from a tight consolidation over its 18 day MVA (117.50), breaking out of its cup with handle (dating back to the beginning of the year). We could be in for a pullback here, however, as Friday it closed well off its intraday high of 133.50. On a drop back on lower volume (up to 708,000 Friday; average 352,800) we will look for the stock to hold the former handle high this time on a drop (at 125.50).
PLAY: A move back up after testing 125.50, with stock and/or June $120 calls to buy (DGX FD).

PKI (Perkinelmer--$72.82; +2.70; optionable): Technical Services. Splits 2:1 effective 6-1-01.
http://biz.yahoo.com/p/p/pki.html
STATUS: Broke out from its little pennant pattern Thursday and continued up on Friday, making four consecutive moves up to finish the week. Volume peeled back to 621,000 (average 684,600)oday, continuing its three-session move up from the 18 day MVA (63.86), which has defined the bottom of the pattern. Volume slipped a bit Friday was still above average at 719,300 (average 673,600). It is over 5% past the breakout, and the weakening volume could signal that the move is weakening; also, the news reported that the stock split was made Friday, when in fact it was merely a confirmation of a prior announcement. We will see if it pulls back.
PLAY: A move back up after a pullback that takes the stock back to test its breakout in the 68 range, with stock and/or June $65 calls to buy (PKI FM).

APPB (Applebee's--$44.10; +0.05; optionable): Announced a 3:2 stock split last week! It is effective June 12.
http://biz.yahoo.com/a/appb.html
STATUS: Is steadily creeping upward along its 10 day MVA (43.32). Not much going on here, as the stock has been in a steady uptrend, moving over 30% in the last three months, and has already made four runs on this particular climb. Volume has increased on recent moves but is still below average, chilling Friday to 195,000 (average 401,200). We will see if it builds a strong consolidation here, and as we get closer to the split we will see if it can make a good move.
BUY POINT: Aggressive A move up after a successful test of the 10 day MVA, looking for stronger volume near the average on the move up, with stock and/or August $40 calls to buy (AQB HG), carefully protecting positions.

SDS (Sungard Data--$60.91; -0.09; optionable): Announced a 2:1 split Monday, effective June 18.
http://biz.yahoo.com/p/s/sds.html
STATUS: Broke out of its cup with handle Wednesday, but after gapping up and hitting a high of 64.50 the stock reversed its field Thursday and pulled back on even bigger selling volume. It stopped the hard tumble Friday, showing a loose doji, still comfortably over its breakout point at 60. Volume was also down at 613,000 (average 950,000). We will see if it can hold the breakout point of 60, which it tapped Friday at its low, and hold to consolidate a bit more before charging back up.
BUY POINT: After holding 60 on this pullback and perhaps consolidating a bit, we will look for a strong move back over 62, with stock and/or July $55 calls to buy (SDS GK).

CONTINUING CANDIDATES REMAINING PLAYS: 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.

ACF (Americredit--$51.28; -1.18; optionable): Credit Services.
http://biz.yahoo.com/p/a/acf.html
BACKGROUND: Last announced a 2 for 1 split on 8-18-98 at a stock price of $35. The annual shareholder meeting was on 11-7-00 at which time no authorized shares were increased. The company does not have sufficient shares for a 2 for 1 split, but does have sufficient shares for a 3 for 2 split.
STATUS: ACF has made a great move since pulling back to test its 18 day MVA (46.42). That move provided a shakeout after the stock dipped out of its lateral consolidation formed following its April breakout, and it blasted up to hit a high of 52.90 Thursday, finally pulling back Friday after four consecutive solid moves up. The pullback was on lighter volume at 1.13 million (average 927,200), so the stock could hold up well here. However, for new positions we will need to see it catch support and consolidate, as it has made a move of better than 30% the past month, which makes it a bit extended.
BUY POINT: A move up after a lower volume test of the 49-50 range. We would carefully protect positions on such a move.
POSITION: Stock and/or August $45 calls to buy (ACF HI).

ASFC (Astoria Financial--$56.98; -0.25; optionable): Savings and Loan.
http://biz.yahoo.com/p/a/asfc.html
BACKGROUND: Last split its stock in 1996 with the split at a price of $56. The annual shareholder meeting was on 5-17-00 at which time no additional shares were authorized. The company has sufficient shares for a 2 for 1 split. The next annual shareholder meeting is scheduled for 5-16-01 at 9:30 ET.
STATUS: Has pulled back to test the breakout from a saucer pattern, and is trying to hold the high in the left side of the pattern, at 57 (with the 18 day MVA). The stock showed another doji pattern Friday, as volume dipped slightly at 382,000 (average 395,000). Looking for spring upward, with the recent high at 58.50.
BUY POINT: Breakout Over 58.50 on above average volume.
POSITION: Stock and/or July $55 calls to buy (AQR GK).

BBT (BB&T--$36.59; -0.24; optionable): Banking. Did not get an announcement with earnings.
http://biz.yahoo.com/p/b/bbt.html
BACKGROUND: The company has declared 21:20 splits in 1996 and 1997. The annual shareholder meeting was on 4-25-00 at which time no additional shares were authorized. The company has insufficient shares for a 2 for 1 split, but just enough for a 3:2 split.
STATUS: Made another surge Wednesday as the stock continues to gradually make its way back up toward the highs in its January-February consolidation range (38.25 high in late December). It pulled back Friday, testing back near the support of its 18 day MVA (36.15) at its low of 36.30, and closing just below its recent high (36.74). We will see if it can hold here, as the drop came on lower volume at 460,300, far below the average of 821,700. We will want volume behind a move up for positions.
BUY POINT: Aggressive A move over 37.25 on above average volume.
POSITION: Stock and/or June $35 calls to buy (BBT FG).

CBH (Commerce Bancorp--$69.80; -0.15; optionable):
http://biz.yahoo.com/p/c/cbh.html
BACKGROUND: Last announced a 5 for 4 split on 6-29-98. The stock price was $54.63. The annual shareholder meeting was on 6-20-00 at which time no additional shares were authorized. The company has insufficient shares for a 2 for 1 split.
STATUS: CBH is trying to make its way toward a breakout, but again shied away Friday, showing a doji just below the resistance of its handle high of 70.40. We could get another pullback and test of support, but if we do we would want the stock to make a higher low than its previous drop to 67, holding the 10 day MVA at 68.76. At any rate, the stocks climb in the right side of its cup has not been spectacular by any means, so we will look for a breakout for positions.
BUY POINT: Breakout: 70.53 on volume of 240,000 (average 160,000; Friday 170,000).
POSITION: Stock and/or June $65 calls to buy (CBH FM).

End Part 3 of 4

stock split
buy stock