us stock market, stock split

Begin Part 4 of 4

IFIN (Investors Fin Services--$62.75; +2.95; optionable):
http://biz.yahoo.com/p/i/ifin.html
BACKGROUND: Last announced a 2:1 split on 5-15-00 in conjunction with a board meeting. The stock price was $82. Prior to that announced a 2:1 split on 2-18-99 in conjunction with a board meeting. The stock price was $40.76. The company does not have sufficient shares for a 2:1 split.
STATUS: Gave us a put play, but slammed on the brakes and made a rebound today. The stock caught support generally in the range of the center of its double bottom from March and April, and it was not a weak bounce, coming on huge volume of 1.57 million (average is 372,600). After such a strong push upward, we are not inclined to play it back down. We will also need to see a lot more to the upside. Nothing for now.

IGT (International Game Technology--$64.36; +0.04; optionable):
http://biz.yahoo.com/p/i/igt.html
BACKGROUND: Based upon our research, it does not appear that IGT has ever announced a split. The annual shareholder meeting was on 3-5-01 at which time no additional shares were authorized. The company has sufficient shares for a 2:1 split.
STATUS: IGT has been very strong, pushing back up at the end of the last week after testing the 10 day MVA (61.78). It made a new high at 64.57 today as it showed a tight doji (the second consecutive), and would appear to be poised to pull back. We will again look for it to pull back to the 10 day MVA and hold again for a move up.
BUY POINT: A move up with increased volume (770,300 today; average 795,000) after a lower volume pullback to the 10 day MVA.
POSITION: Stock and/or July $55 calls to buy (IGT GK).

ITG (Investment Tech Group--$54.35; +1.46; optionable):
http://biz.yahoo.com/p/i/itg.html
BACKGROUND: Last announced a split on 11-19-97 at a stock price of $70, and in December 1995 at $65. The annual shareholder meeting is scheduled for 5-16-01 at 1:00 pm ET at which time no additional shares will be authorized. The company has sufficient shares for a 2:1 split.
STATUS: The stock has really turned it back up after making a strong fall through the 50 day MVA (51.13) last week. It has moved up the last four sessions, but after having decreasing volume on each move, the run today was with big volume behind it (505,900; average 229,500). It is now back in the range where it had been forming a handle in May, but it closed well off its intraday high of 55.49, making us wary about a pullback before we get any more move up. On a pullback we will see if it can hold over the 10 day MVA, at 52.48.
BUY POINT: From here A move back over 55.50 on continued strong volume. Pullback A move back over 54 on continued strong volume after a lower-volume pullback to that holds the 10 day MVA.
POSITION: Both buy points Stock and/or October $50 calls to buy (ITG JJ - low open interest).

KMI (Kinder Morgan--$55.00; -0.29; optionable): Gas Utility.
http://biz.yahoo.com/p/k/kmi.html
BACKGROUND: Last announced a 3:2 split in October 1998 at a stock price of $50. It also split 3:2 in the $40 range in 1993. The annual shareholder meeting was on 5-9-00. We are currently unable to determine if any additional shares were increased.
STATUS: Fell back through its 50 day MVA (56.31) last week and has not been able to recovery. It threatened a big drop Friday when it fell back on huge volume, but has since continued more or less laterally. We can still look at a put play as the stock is weak, but we will need to exercise caution with positions. We have mentioned potential support from some January-February levels in the 54 range, so for new or additional positions we will want to see a drop through that level, with our target initially will be 50-52 (200 day MVA and March lows near 48).
BUY POINT: A drop below 54 on increased volume.
POSITION: July $60 puts to buy (KMI SL).

MERQ (Mercury Interactive--$63.99; +4.07; optionable):
http://biz.yahoo.com/p/m/merq.html
STATUS: After consolidating below its 50 day MVA (61.77) after last week's hard drop with the techs, MERQ managed to push back up today, making it back over the 50 day and closing just over its short-term MVA's (10 day at 63.35). We know that this one can really move with the market, in either direction, so we will keep an eye on it for upside moves if the market improves. We do not like to whipsaw back and forth on positions, but MERQ did not show us the put and is now looking a bit stronger.
BUY POINT: In a strong market, a run up with increased volume (3.56 million today; average 5 million).
POSITION: October $60 calls to buy (RQB JL).

MMM (Minnesota Mining--$121.50; +1.50):
http://biz.yahoo.com/p/m/mmm.html
BACKGROUND: Last announced a 2:1 split on 3-15-94 in conjunction with a board meeting. The stock price was $102. The annual shareholder meeting is scheduled for 5-8-01 at 10:00 am CT at which time no additional shares will be authorized.
STATUS: Trying to rebound a bit now after having steadily pulled back from its breakout high (from a cup with handle pattern) at 127. It tested the 50 day MVA (116.17) at an intraday low last week, and has since managed to move back over the 10 day MVA (119.89) and back into the range of the high in the former handle, at 121.92. Volume has not been stellar, in keeping with overall market volume. We will see if it can make a stronger move.
BUY POINT: Aggressive A move back over 122.50 on above average volume.
POSITION: Stock and/or July $120 calls to buy (MMM GD).

OMC (Omnicom--$93.66; +0.46; optionable)
http://biz.yahoo.com/p/o/omc.html
BACKGROUND: Last announced a split on 12-16-97 at stock price of $70. The annual shareholder meeting is scheduled for 5-22-01 at 10:00 ET at which time no additional shares will be authorized. The company has sufficient shares for a 2:1 split.
STATUS: Testing the breakout of its cup with handle, holding over its 18 day MVA (92.81). The stock actually has moved back up a bit since closing below that moving average Friday, inching up on volume that is quite low (today at 689,700; average 1 million). Had been on a nice move out of a double bottom, but did not have the strongest volume on the move up before the recent fall (hit a high of 98.20).
BUY POINT: Aggressive A move back over 95 on above average volume.
POSITION: Stock and/or July $90 calls to buy (OMC GR).

RJR (RJ Reynolds--$59.75; +0.03; optionable): Tobacco.
http://biz.yahoo.com/p/r/rjr.html
BACKGROUND: Based upon our research it does not appear that RJR has ever split its stock. The annual shareholder meeting is scheduled for 4-25-01 at 9:00 ET at which time no additional shares will be authorized. The company has sufficient shares for a 2:1 split.
STATUS: Has made a move back up after finding support at its 50 day MVA (57.82). The stock had used that support successfully while moving in a saucer pattern the last few months, but the last visit occurred after falling out of a handle consolidation. The stock is moving laterally now, showing consecutive dojis over its 10 day MVA (59.15). Not too bad here, and we will see if it can hold here and make a strong move off of the dojis. It has some resistance from recent levels in the former handle.
BUY POINT: Aggressive A move back over 61 on above average volume (up to 374,900 today; average 441,000).
POSITION: Stock and/or August $55 calls to buy (RJR HK).

POST SPLITS REMAINING PLAYS:

BAX (Baxter International--$50.24; -0.35; optionable): Health Services. Split 2:1 effective 5-30-01.
http://biz.yahoo.com/p/b/bax.html
STATUS: Has been really strong, breaking from an ascending wedge and then making another move up the past week after testing that breakout. Today it hit up to 51.10 before pulling back, with volume spiking up a bit on the selling (3.2 million; average 1.5 million). At its low it touched near its 10 day MVA (49.38), and we will see if it can successfully hold that level on a pullback from here.
PLAY: After a pullback that holds the 10 day MVA, a move back up on continued solid volume, with stock and/or August $45 calls to buy (BAX HI).

DGX (Quest Diagnostics--$66.10; +1.60; optionable): Health services. Splits 2:1 effective June 1.
http://biz.yahoo.com/p/d/dgx.html
STATUS: Made a nice gapping move off of its 18 day MVA (61.84) on the split Friday, and hit up to a high of 70.15 Monday before pulling back. It pushed back up a bit today, as the stock is holding the range of its pre-split move that hit up in the 65 range. DGX is an aggressive play at this point, as it is often difficult to move post-split. We will see if the stock can hold the 65 range, perhaps consolidating for a move up.
PLAY: Aggressive A move over 67.50 on increased volume (up to 731,800; average 377,500), with stock and/or August $65 calls to buy (DGX HM low open interest).

EMLX (Emulex--$37.24; +3.05; optionable (UMQ): Computer Hardware: Peripherals
http://biz.yahoo.com/p/e/emlx.html
STATUS: EMLX made a move up with its tech brethren, but stopped short of its 50 day MVA (37.54), under which it has been consolidating the last week. The typical pattern with a strong drop last week under what had been solid support, so we will see if it can hold on, and with market strength we could get a move; however, like the other techs, it is susceptible to more selling if there is anything that turns the market down. On a downside move we are looking at the 30 level initially as a target.
PLAY: Aggressive upside A move over 38.50 in a strong market rally, with increased volume (up to 6.22 million today; average 6.38 million). Downside In a weak Nasdaq, a drop back on increased selling volume, with July $45 puts to buy (UMQ SI).

FIC (Fair Isaac--$52.80; -0.20; no options): Split 3:2 effective June 5.
http://biz.yahoo.com/p/f/fic.html
STATUS: Business services. Made a nice move going into the split, and today tested back toward its 10 day MVA (51.05) before pulling back up for a loose doji pattern. Volume remained high at 250,100 (average 87,000), and we will likely get another test of support before a move back up. Monday's new high reached 53.33.
PLAY: A move up on strong volume after a lower-volume pullback that holds the 10 day MVA. Stock only.

IVX (Ivax--$38.43; +3.06; optionable): Generic drugs. Splits 5:4 on May 21.
http://biz.yahoo.com/p/i/ivx.html
STATUS: Has made a phenomenal move post-split, sparked by some good news on a drug product. It blasted up last week to break out of a handle to its long cup pattern, and today made an even bigger move, closing just below the highs in the left side of the cup, at 38.58 (from last October). Extended now to chase, so we will see if it comes back to test the 36 range before continuing up.
PLAY: A move up on continued strong volume (up to 3.9 million today; average 1.25 million) after holding the 35-36 range on a pullback, with stock and/or September $30 calls to buy (IVX IF).

JNPR (Juniper--$46.58; +2.14; optionable (JUX): Computer Hardware http://biz.yahoo.com/p/j/jnpr.html
STATUS: Has dropped back out of a recent consolidation (in the 50-60 range), and is now trying to push back up. The move does not have much steam, and has crept up on consecutive dojis the last few days, today closing just under its 10 day MVA (47.31). From this position we can still look at a potential put play in market weakness, because we are not ready to jump on an upside move if we get it. It is weak, and on a drop back from here we can look for a put play, with an initial target of 40.
PLAY: A strong drop back on increased selling volume (down to 22.6 million; average 28.9 million) in a weak Nasdaq, with July $55 puts to buy (JUX SK).

STT (State Street--$54.99; +0.14; optionable): Banking. Split 2:1 effective 5-31-01.
http://biz.yahoo.com/p/s/stt.html
STATUS: Is testing its breakout from a pennant pattern handle (to a cup), showing another tight candlestick today as the stock continues to hug its 18 day MVA (54.61). We will see if it can garner the strength to hold support here and make a move up. The recent high on the breakout was 57.87.
PLAY: A move over 56 on above average volume (1 million; today down to 665,800), with stock and/or August $50 calls to buy (STT HJ).

STZ (Constellation Brands--$40.00; -0.12; optionable): Wineries. Split 2:1 May 15.
http://biz.yahoo.com/p/s/stz.html
STATUS: A great post-split move, but it could be pulling back again after its latest surge. The stock showed a clear topping sign, a 'tombstone' doji, closing off the high of 41.20. We will see if it can again hold its 10 day MVA (38.88) on a move down from here.
PLAY: A strong move back up after a continued low volume (132,900 today; average 192,200) pullback that holds the 10 day MVA, with stock and/or July $35 calls to buy (STZ GG).

WFMI (Whole Foods Market--$27.69; -0.15; optionable): Grocery Stores. Split 2:1 effective June 5.
http://biz.yahoo.com/p/w/wfmi.html
STATUS: Pulled back going into the split, but showed a 'shooting star' doji Tuesday over support of its 18 day MVA (27.42). The stock remains in a solid cup with handle pattern, and we are going to see if it can maintain the pattern post-split and look for a breakout.
PLAY: Breakout 29.55 on continued strong volume (881,600 today; average 503,500), with stock and/or August $27.50 calls to buy (FMQ HY - low open interest).

Good Investing!
Jon 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.

us stock market
stock split