us stock market, stock split

Begin Part 3 of 4

PRE-ANNOUNCEMENTS REMAINING PLAYS
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CHBS (Christopher & Banks--$31.50; -1.25; optionable): Forecast to announce a split on 6-21-01 before the open in conjunction with earnings.
http://biz.yahoo.com/p/c/chbs.html
BACKGROUND: Last announced a 3:2 stock split on 1-17-01 at a price of $34. Before that CHBS also had 3:2 splits in July of 2000 at $35 and in December 1999 at $26.
STATUS: Has really suffered, although it is still in range going into next week's forecast. It has recently dropped back from a high of 47.50, and after trying to hold at its 50 day MVA (37.40) the stock has fallen back heavily. It has shown consecutive dojis after gapping down Thursday, and has support here from a March consolidation range (200 day MVA at 28.14). We will see if it can put anything together that could give us a reasonable chance at a pre-announcement play, perhaps a quick play going into Thursday. No positions for now.

KRB (MBNA Corp--$34.02; -0.13; optionable): Forecast to announce a split on 7-10-01 in conjunction with earnings. At this time the company cannot confirm an earnings date.
http://biz.yahoo.com/p/k/krb.html
BACKGROUND: Last announced a 3:2 split on 7-14-98 in conjunction with earnings. The stock price was $40. KRB is a holding company and does not hold annual shareholder meetings.
STATUS: Has really tanked, dropping from its cup with handle and giving up its 200 day MVA (35.55). It showed a loose doji Friday on increased volume (2.96 million; average 2.49 million), so we could see a test back up toward the 200 day. Given the strong selling we have seen, we will look for a weaker move up and failure at resistance; on a drop back on continued strong selling volume, we can look at a put play. The stock hit below 28 in March, but we will initially target 30-31 on a play down.
BUY POINT: After a failure of a move up at the 35 range, strong selling back down.
POSITION: Stock and/or August $45 puts to buy (KRB TI).

CHV (Chevron--$96.69; +1.03; optionable): Forecast to announce a split on 7-25-01 before the open in conjunction with earnings. At this time the company cannot confirm the date.
http://biz.yahoo.com/p/c/chv.html
BACKGROUND: The annual shareholder meeting was on 4-25-01 at which time authorized shares were increased.
STATUS: Has been moving in a nice-looking ascending wedge. The stock pulled back the last few sessions this week on light volume, and then Friday gapped down with the market and then made a strong move back up. CHV closing back over its up trendline (connecting December, February and May closing lows) that is supporting the pattern (at 96), and its 10 day MVA, at 96.58. Looking for a breakout. With Exxon-Mobil announcing, we are looking at some other of the big oils to follow suit, and CHV looks ready. Good money flow, and relative strength is solid. Our target on a breakout is the 110-115 range.
BUY POINT: A move over 98.59 on volume of 3.25 million (average 2.4 million; Friday 2.5 million). Stop: Just below the 50 day MVA at 94.37.
POSITION: Stock and/or September $95 calls to buy (CHV IS).

CEFT (Concord EFS--$50.27; -0.54; optionable): Forecast to announce a split on 7-25-01 in conjunction with earnings. At this time the company cannot confirm this date, but based upon our research this is the date for the release.
http://biz.yahoo.com/p/c/ceft.html
BACKGROUND: Last announced a 3:2 split on 8-26-99 at a stock price of $37. Prior to that announced a 3:2 split on 5-14-98 in conjunction with its annual shareholder meeting. The annual shareholder meeting is scheduled for 5-24-01 at 9:30 am CST at which time additional shares will be authorized.
STATUS: Broke out of a nice consolidation early this month, but after hitting 54.50 at its high the stock has dropped back hard this week. It gapped below the 18 day MVA (50.63) Friday, but after hitting 49.06 the stock managed to push back up, but could not hold a move that hit its 10 day MVA at its intraday high of 51.50. The drop back was on heavy volume (the move back up Friday on lower volume of 4.65 million; average is 3.9 million), so it will have to show us a strong move back up. Very much in range, and there is plenty of time before the forecast, so we will see how it goes.
BUY POINT: Aggressive: A move over 52 on continued strong volume.
POSITION: Stock and/or September $45 calls to buy (EQF II).

THQI (THQ Inc.--$54.93; +3.83; optionable): Forecast to announce a split on 7-26-01 in conjunction with earnings. At this time the company cannot confirm this date.
http://biz.yahoo.com/p/t/thqi.html
BACKGROUND: Last announced a 3:2 split on 10-26-99 in conjunction with earnings. The stock price was $44. Prior to that announced a 3:2 split on 7-23-98 in conjunction with earnings. The stock price was $33. The annual shareholder meeting was on 7-21-00 at which time no additional shares were authorized; however, the company has sufficient shares for a 2:1 split.
STATUS: Has been a strong performer, breaking from a cup with handle in January and making several trend runs since then, going steadily upward. After a strong pullback Thursday, the stock turned around and blasted back up Friday, running up on even stronger volume (987,600; average 583,000). After such a strong move up along its short-term MVA's (18 day at 50.89), we would expect a pullback and possible test of the 50 day MVA (45.72), which strong trending stocks often do. However, it is not giving up, and the aggressive can still look at a play to the upside, protecting positions diligently with stops.
BUY POINT: Aggressive: A move over 56.50 on continued strong volume in a good market. Stop: 52.50. Safer: After a pullback and perhaps a consolidation in the 47-50 range, a strong move back up on continued strong volume.
POSITION: Aggressive: Stock and/or September $50 calls to buy (QHI IJ). Stock and/or September $40 or $45 calls to buy (QHI IH or QHI II).

ADVP (Advancepcs--$57.53; -2.97; 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 was plagued with light volume on the last part of its steady ascent, but volume has kicked in stronger as it sells back. It had held the 50 day MVA (59.34) several times in recent weeks, but took out that level Friday with a volume surge on the selling (1.16 million; average 850,000). Could be due for a more serious fall, but we will see if the stock can recover back over the 50 day. If it fails a test of that level, we can then look at a downside play on heavy volume selling. Our initial target is at the level of support at the 50 range. Sell signal for existing positions.
BUY POINT: After a failed test of the 50 day MVA, a move back down on continued strong selling volume.
POSITION: August $65 puts to buy (QVD TM). We will have to check deltas, etc. as they are not available at the time of this writing.

FDC (First Data--$66.28; +0.74; 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 is moving in a rolling range between 64 and 69, holding in that pattern since breaking from a cup with handle in April. The stock has recently used the 50 day MVA (64.93) for support, tapping it at lows twice this week. Friday it tried a move, but pulled back to close with a loose doji after hitting up to 67.60. Volume spiked up to 1.8 million (average 1.63 million), and it looks like another test of the 50 day. If it can hold we will see if it can make a move back up that can take out the range.
BUY POINT: Aggressive: After a test of the 50 day, a move back over the 10 day MVA (currently 66.48) with continued strong volume.
POSITION: Stock and/or August $60 calls to buy (FDC HL).

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

New Pre-Split Play:

MTON (Metro One--$54.49; +0.09; optionable): Telecom. Splits 3:2 effective June 29.
http://biz.yahoo.com/p/m/mton.html
STATUS: Has been trending up strong since breaking from a cup with handle in April, riding its short-term MVA's (27.79 and 27.60). The stock gapped up to new high (57.66) Thursday before heading back down, but after hitting a low of 49 Friday the stock surged back up on big volume (up to 787,500; average 433,500). Looking for continued strength on a move up. Relative strength has broken out.
PLAY: On a continued move, stock and/or August $50 calls to buy (KQM HJ - available Monday).

Continuing Pre-Split Plays:

SDS (Sungard Data--$53.80; -0.31; optionable): Announced a 2:1 split, effective June 18.
http://biz.yahoo.com/p/s/sds.html
STATUS: Suffered a downgrade and dropped out of its fine pattern (cup with handle) recently. It fell back through its 50 day MVA (56.64), Friday taking a relief bounce, pulling back to close after hitting up to 55.13 at its high. We like the stock, but it splits Monday and we will wait for it to make a recovery from this downgrade. Nothing for now.

FRED (Fred's--$27.90; -0.54; no options): Retail. Splits 2:1 effective 6-19.
http://biz.yahoo.com/p/f/fred.html
STATUS: Has been solid on a move up since mid-April, climbing along its short-term MVA's (28.28 and 27.82, respectively) while demonstrating some of that volatility for which pre-splits are famous. It recently hit up to 30.20 before pulling back down to support, dropping off of its doji Thursday at the 10 day and settling back Friday at the 18 day. We will see if it can hold here and make a final move.
PLAY: A bounce back up from here, with stock.

DP (Diagnostic Products--$74.40; -2.00; optionable): Splits 2:1 effective 6-19-01.
http://biz.yahoo.com/p/d/dp.html
STATUS: Broke out in April, then made another move in May out of a lateral consolidation, but dipped back the last few sessions. The stock hit a high of 83.55 before pulling back, and has now given up its short term MVA's (10 and 18 day at 77.58 and 76.67, respectively). Volume intensified with Friday's selling, so it is not one we are keying on with just one day to go before the split.

SHFL (Shuffle Master--$27.49; -1.91; optionable): Manufacturing. Splits 2:1 effective June 19.
http://biz.yahoo.com/p/s/shfl.html
STATUS: Made a strong move this year but has been trending down the past few weeks. It managed a good move off of the 50 day MVA (28.32) early in the month, and we were looking for another one, but Friday saw the stock drop back to close below that support. Volume increased to 357,300 (average 300,400), so it is not looking promising with one day to go before the split. There are better ones out there.
PLAY: Aggressive A move back over the 50 day, with stock and/or August $25 calls to buy (SFQ HE low open interest).

FCEL (Fuelcell--$64.08; +0.80; optionable): Splits 2:1 effective June 20.
http://biz.yahoo.com/p/f/fcel.html
STATUS: Tanked this week on news that it was conducting a public offering, and after losing its 200 day MVA (66.03) Thursday the stock made a slight bounce Friday. We will wait for it to recover.

DAKT (Daktronics--$29.30; -2.26; no options): Scientific & Technical Instruments. Splits 2:1 effective June 25.
http://biz.yahoo.com/p/d/dakt.html
STATUS: Made an outstanding move from its 50 day MVA (26.22), but showed the topping sign Tuesday when it closed well off its intraday high of 34.50, and since then has taken a severe drop. It closed back below its 18 day MVA (29.57) Friday as volume continued to be strong on the selling (107,200; average 79,000). We will see if it can hold support, which is possibly at 28 from recent levels, or if it again visits its 50 day MVA (26.22). We have a week to go before the split, so we will see if it finds support and makes a move up.
PLAY: After holding support on a continued drop at the 26-28 range, a strong move up, with stock.

End Part 3 of 4

us stock market
stock split