us stock market, stock split

Begin Part 4 of 4

IGT (International Game Technology--$65.17; -0.14; 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 (currently 62.92). It bounced up again Wednesday to hit a high of 65.40, before showing a doji today. The pattern suggests a pullback, and we will look for it to hold the 10 day and hold again for a move up.
BUY POINT: A move up with increased volume (down to 587,600 today; average 795,000) after a lower volume pullback to the 10 day MVA.
POSITION: Stock and/or July $60 calls to buy (IGT GL).

ITG (Investment Tech Group--$53.52; -0.22; 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 really turned it back up after making a strong fall through the 50 day MVA (51.32) last week, moving up from a trendline connecting its March-April closing lows. It showed a topping sign Tuesday, and has since pulled back to the 10 day MVA (52.85), tapping that level today at its low. It turned back Tuesday from the range where it had been forming a handle in May. We will see if it can hold here and make a move back up over Tuesday's high.
BUY POINT: A move back over 55.50 on above average volume (229,500; today 183,300).
POSITION: Stock and/or October $50 calls to buy (ITG JJ - low open interest).

KMI (Kinder Morgan--$55.00; -0.76; 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 (56.24) last week and has not been able to recover. It has moved laterally in a narrow range since the drop, today tapping up to the 50 day MVA at its high, but pulling back toward the lower levels of the range. 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 (down a bit to 689,300 today; average 648,000).
POSITION: July $60 puts to buy (KMI SL).

MERQ (Mercury Interactive--$67.12; +1.23; optionable):
http://biz.yahoo.com/p/m/merq.html
STATUS: After consolidating below its 50 day MVA (62.14) after last week's hard drop with the techs, MERQ managed to push back up this week. It has moved back over the 50 day and the short-term averages (18 day at 64.35). Today the stock gapped back toward that support, but moved back up with volume that was lower at 3.1 million (average 5 million). 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.
BUY POINT: In a strong market, a run up with increased volume.
POSITION: October $65 calls to buy (RQB JM).

MMM (Minnesota Mining--$121.80; +0.21):
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: MMM broke from a cup with handle in mid-May, but after pulling back and testing the 50 day MVA (116.60), the stock has tried a move back up. It has risen back up into the upper range of its former handle, but turned laterally the last couple of sessions with dojis over the 10 day MVA (120.49). The stock pulled back off of an intraday high of 123.09 to close, so we will look for it to hold the 10 day and try to continue the move up toward the breakout high of 127.
BUY POINT: Aggressive A move back over 123 on above average volume.
POSITION: Stock and/or July $120 calls to buy (MMM GD).

OMC (Omnicom--$91.86; -1.72; 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: Had been testing the breakout of its cup with handle in a consolidation over its 18 day MVA (92.78), but fell back through that support today. It tested near its 50 day MVA (90.53) at its low of 91 today, moving on volume that continued to be below the average (701,900; average 1 million). Not an encouraging move, so we will see if it can recover. No new positions.

RJR (RJ Reynolds--$55.69; -3.19; 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: Got killed with the tobacco news today, gapping down and continuing to fall. We could look for a relief bounce here to clear out of positions, with the 50 day MVA above at 90.53, and some lower support from April lows at 54.

POST SPLITS REMAINING PLAYS:

EMLX (Emulex--$39.00; +3.61; optionable (UMQ): Computer Hardware: Peripherals
http://biz.yahoo.com/p/e/emlx.html
STATUS: EMLX was finally able to crack back over its 50 day MVA (37.52), a resistance level under which it had been consolidating after a strong drop last week. The move was not on impressive volume, however, so we will see if it can hold. It never gave us a put play after it broke support, but from here it would be an aggressive upside play, and one we would look at only in a strong market, carefully protecting positions on the move. The recent high was 49.55.
PLAY: Aggressive upside A move over 40 in a strong market rally, looking for increased volume, with stock and/or October $35 calls to buy (UMQ JG).

FIC (Fair Isaac--$52.35; 0.00; 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 is holding up well since then. It has tested its 10 day MVA (51.48) at its low each session, today showing a very tight doji after doing so. It has made quite a run this year, but could still be capable of more; however, we will need to be quite cautious with positions, carefully protecting them with stops. Monday's new high reached 53.33.
PLAY: A move to over 53.33 on above average volume (86,800; today down to 48,800). Stock only.

GENZ (Genzyme--$56.87; -0.12; optionable): Split 2:1 effective 6-4-01.
http://biz.yahoo.com/p/g/genz.html
STATUS: Biotechnology. Broke out Tuesday, the day after the split. It has pulled back to test the break (from a lateral consolidation it had formed since breaking from a cup pattern in April), holding over its May high at 56 (10 day MVA at 55.11) and today showing a doji after having reached up to a new high at 58.44. We will see if it can hold off of this pattern, perhaps consolidating, but we will also look for a continuation of the breakout move. Excellent relative strength and money flow, with good buying.
PLAY: A move back over 58.44 with continued strong volume (down today to 3.28 million; average 2.8 million), with stock and/or October $55 calls to buy (GZQ JK).

IVX (Ivax--$37.10; -0.10; 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 made an even bigger move Tuesday before settling back a bit. IVX showed a doji today on low volume (656,000; average 1.25 million), but it is still too extended to chase. We will see if it dips back toward the 36 range and perhaps consolidates. Nothing for Friday.

JNPR (Juniper--$46.63; +1.94; 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 is currently stifled by the 10 day MVA (46.80). 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 20.3 million; average 28.9 million) in a weak Nasdaq, with July $55 puts to buy (JUX SK). A quick play for a weak market.

PKI (Perkinelmer--$36.05; -0.45; optionable): Technical Services. Split 2:1 6-4-01.
http://biz.yahoo.com/p/p/pki.html
STATUS: Another stock that showed some immediate strength post-split. After shooting up from its 18 day MVA (34.96) Tuesday, the stock has gently pulled back on decreasing volume the last two sessions, holding over the 10 day (35.61). Looking for it to hold here, and make a move back up toward Tuesday's high of 38.27, from which the stock pulled back after just eclipsing its May high at 38.13.
PLAY: Aggressive A move up after showing that it has support at the 10 day MVA, looking for increased volume near the average (642,000; today down to 544,900), with stock and/or September $30 calls to buy (PKI IF). Breakout Over 38.25 on above average volume, with stock and/or September $35 calls to buy (PKI IG).

SEBL (Siebel--$51.83; +0.68; optionable) (SGW): Application Software
http://biz.yahoo.com/p/s/sebl.html
STATUS: SEBL recovered quickly from its drop below the 50 day MVA (45.50) last week, making a steady climb back over its short-term MVA's (10 day at 49.08). It has slowed the last couple of sessions but has held support at the 10 day as volume remains rather low (up to 13 million today; average 18.4 million). In a strong market we are looking for a move toward the recent highs at 55.90.
PLAY: In a strong market, a move up on increased volume near the average, with stock and/or August $50 calls to buy (SGW HJ).

STT (State Street--$54.13; +0.06; 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), pulling back gradually in a handle consolidation. In that pattern it fallen back through its 200 day (56.12) and short-term MVA's (10 day at 54.71), holding the 50 day (52.88) though tapping close to that level at the lows the last two sessions. The stock has shown consecutive dojis just over the high in the former pennant, so we will see if it can make a move back up off of the dojis back up toward the high in the pattern at 57.87. Obviously, there is a lot of resistance to overcome between here and there.
PLAY: Aggressive A move over the 200 day MVA on above average volume (1 million; today down to 657,000), with stock and/or August $50 calls to buy (STT HJ).

WFMI (Whole Foods Market--$28.19; +0.77; optionable): Grocery Stores. Split 2:1 effective June 5.
http://biz.yahoo.com/p/w/wfmi.html
STATUS: Bounced back up from the 18 day MVA (27.50) today, moving back up a bit in the handle to a cup pattern (formed since last February). Volume remained very low at 282,800 (average 503,400), so we will see if the stock can make a move that takes it back up toward the breakout point (handle high 29.42).
PLAY: Breakout 29.55 on volume of 750,000, 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