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Begin Part 4 of 4

MMM (Minnesota Mining--$120.36; -1.87):
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 (currently 117.83), the stock has pulled back up and is in a consolidation just over its prior handle and its 18 day MVA (120.61). It pulled back today to close just under the 18 day, so we will see if it can hold here and try a move. The breakout high in mid-May was 127, but the last two moves have stopped at 124 and Monday's high was 123.63. Good relative strength and money flow.
BUY POINT: A move back over 124 on continued strong volume.
POSITION: Stock and/or July $120 calls to buy (MMM GD).

NVDA (Nvidia--$86.30; -4.99; optionable): Semiconductor.
http://biz.yahoo.com/p/n/nvda.html
BACKGROUND: The company last announced 5-16-00 after the close with earnings. Price was at $94, but the stock rose $8.74 that day in anticipation.
STATUS: NVDA has made at least four trend runs up its trendline connecting March and May closing lows, but finally has dropped back. Today we saw some heavy selling as the stock tested its 50 day MVA at the low of 84.45, with volume spiking up to 6.3 million (average 5.55 million). Solid stocks that have been on strong trend runs we occasionally test their 50 day MVA, so we will see if the stock can hold this support and make a move back up. The high is up at 100.
BUY POINT: After showing that it can hold the 50 day, perhaps consolidating a bit, a strong move back over 90 on continued strong volume.
POSITION: Stock and/or September $85 calls to buy (RVU IQ).

POST SPLITS REMAINING PLAYS:

BAX (Baxter International--$52.27; +1.59; optionable): Health Services. Split 2:1 effective 5-30-01.
http://biz.yahoo.com/p/b/bax.html
STATUS: Made another great breakout move, blasting up Tuesday with a big spike in volume (3.89 million; average 1.56 million). The stock has made a solid, steady move up for the past year plus, but is on the fourth run up on the short-term trendline dating back to mid-April. Consequently, we will ride positions on this move, but eye topping signs carefully for a pullback. We are always cautious on the fourth trend run, as often the end of that move will spell a test of lower support (50 day MVA at 48.15; the stock has been riding the short-term MVA's, with the 10 and 18 day at 50.34 and 49.78, respectively). Our target on this move is still 55-56.
PLAY: Aggressive: Up from here on continued strong volume, with stock and/or August $50 calls to buy (BAX HJ). Stop: 48.61, or just below the 50 day MVA. For current positions we are looking for topping signs to perhaps take profits, or placing a stop just under its up trendline at 51.

CAKE (Cheesecake Factory--$24.20; +0.15; optionable): Restaurant. Splits 3:2 effective 6-19-01.
http://biz.yahoo.com/p/c/cake.html
STATUS: Made a nice move going toward the split, and the past week has pulled into a lateral consolidation. On the split today the stock gapped up to 24.55 and tested 23.60 at its low, but managed to recover to close just over its 50 day MVA (24.07). Stocks can have trouble after the split, but we will see if it can hold support here and manage a move out of the consolidation.
PLAY: After showing it can hold the 50 day, a move back over 24.80 on above average volume (411,000; today down to 284,400), with stock and/or October $23.38 calls to buy (OCF JX).

DP (Diagnostic Products--$37.71; -1.08; 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 after hitting up to 41.78 the stock has gradually pulled back to its 200 day MVA (27.41). It moved up off of that level on the split, but dipped back to that support with a doji today. We will see if the stock can hold off of this pattern and make a solid move back up toward the high.
PLAY: Aggressive: A move over 38.60 (10 day MVA) with continued strong volume (155,600 today; average 65,200), with stock and/or September $35 calls to buy (DP IG, check open interest).

EMLX (Emulex--$32.01; +1.96; optionable (UMQ): Computer Hardware: Peripherals
http://biz.yahoo.com/p/e/emlx.html
STATUS: EMLX tapped 30 Friday and Monday, but managed a bit of a bounce back today. It encountered the 10 day MVA at its high of 33.89 and pulled back to close. Volume ran up to 7 million (average 6.3 million), and we will watch for a drop back again with a weak market that takes out the 30 level. Our initial target will be in the 25-27 range.
PLAY: In a weak market, a drop back below 30 on continued strong volume, with August $40 puts to buy (UMQ TH).

FCEL (Fuelcell--$49.00; -10.28; optionable): Splits 2:1 effective June 20.
http://biz.yahoo.com/p/f/fcel.html
STATUS: FCEL was treated roughly recently on news, and it continued today with a huge move down on more news regarding business arrangements. Dropping.

FIC (Fair Isaac--$53.14; -0.46; no options): Split 3:2 effective June 5.
http://biz.yahoo.com/p/f/fic.html
STATUS: Business services. The stock has made a great run for us since breaking out from a cup with handle in January back in the 35 range. After a couple of more patterns, the stock is now making steady progress up its short-term MVA's (52.88 and 52.04, respectively). After topping at 56.27 last week, the stock has pulled back on low volume (66,900 today; average 92,600) to show a shooting star doji on its 10 day MVA today. Somewhat extended, but showing strength post-split, so the aggressive can continue to look at an upside play from here. Still shows strong money flow and buying.
PLAY: Aggressive: A bounce up from here on increased volume near the average, with stock.

FRED (Fred's--$22.10; +0.15; no options): Split 2:1 effective 6-19.
http://biz.yahoo.com/p/f/fred.html
STATUS: Made a solid pre-split run, pulling back the last several sessions. Dropping.

GENZ (Genzyme--$52.48; -0.47; optionable): Split 2:1 effective 6-4-01.
http://biz.yahoo.com/p/g/genz.html
STATUS: Biotechnology. Made a solid move after the split, hitting a new high of 58.44 before pulling back to the 50 day MVA (51.99, in the lower range of its May consolidation). The stock gapped up to 54.10 today but pulled back with the market, closing over the 50 day. We will need to see if it can sustain something.
PLAY: Aggressive: Over 56 on continued strong volume (3.87 million; average 3 million), looking at stock and/or October $50 calls to buy (GZQ JK).

JNJ (Johnson&Johnson--$53.28; +1.25; optionable): Drugs. Split 2:1 June 12.
http://biz.yahoo.com/p/j/jnj.html
STATUS: Gave a head fake Thursday, showing a topping sign when it closed well off of its intraday high. However, that is why you watch for confirmation of the move, and that never came today as JNJ continued its post-split strength with a strong move up. Volume was solid (8.9 million; average 5.5 million), and relative strength has broken out as money flow flies high. It is right at 5% beyond the breakout over the early June high, so a bit extended to chase with new positions. Still targeting 56-58 initially, but we could get a bit of a test back here soon, and we can look at that pullback as a chance to enter more positions. As always in this market, we will pay close attention to how the stock handles the 52 range with our existing positions, as breakouts can turn quickly.
PLAY: A move up after a lower-volume test of the 52 range, with stock and/or October $50 calls to buy (JNJ JJ). Stop: 48.36 (50 day MVA at 49.27).

KKD (Krispy Kreme--$38.42; -3.38; optionable): Splits 2:1 effective June 15.
http://biz.yahoo.com/p/k/kkd.html
STATUS: Made quite a move on the split, hitting up to 43.50 but tumbling today on the inevitable downgrade. Volume remained strong on the drop (3.9 million; average 994,000) as the stock closed over the 10 day MVA. It could hold here at the 10 day, or fall further, but there is intermittent support all the way down to the 30 level (200 and 50 day MVA's. Dropping.

LH (Laboratory Corp--$77.93; -0.87; optionable): Health Services. Split 2:1 June 11.
http://biz.yahoo.com/p/l/lh.html
STATUS: Took a bit of a drop after the split, but held the 18 day MVA (76.25) at its low. It popped back up off of that level, but after hitting 80.90 Monday it pulled back on below average volume, closing on the 10 day MVA. Not acting bad, so we will see if it can keep the strength and take out the recent high. Still showing solid relative strength, money flow and buying.
PLAY: Aggressive: After holding support here, move back over 80 (recent pre-split high at 82.50) on above average volume (482,800; today 399,000), with stock and/or August $75 calls to buy (LH HO). Breakout: 82.63 on volume of 720,000, with stock and/or August $80 calls to buy (LH HP).

SDS (Sungard Data--$27.01; +0.21; optionable): Split 2:1 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. Now that it has split, we are dropping, but will keep our eye on it because it is strong and should come back.

SEBL (Siebel--$41.90; +3.61; optionable) (SGW): Application Software
http://biz.yahoo.com/p/s/sebl.html
STATUS: SEBL got creamed last week, but managed a bit of a bounce today on the ORCL news. The stock gapped up but encountered resistance at its 10 day MVA (43.60), pulling back from that level to close as volume jumped up (24.9 million; average 16.9 million). We will see if it has the power to push through, but if the market disappoints this one could pull right back down again to the recent low at 36.
PLAY: After a failed move to the 10 day, a strong move back down in a week market on continued strong volume, with August $50 puts to buy (SGW TJ).

SHFL (Shuffle Master--$17.50; +1.64; optionable): Manufacturing. Splits 2:1 effective June 19.
http://biz.yahoo.com/p/s/shfl.html
STATUS: Made a big drop going into the split, and for now we are dropping.

WFMI (Whole Foods--$27.45; -0.52; optionable): Grocery Stores. Split 2:1 June 5.
http://biz.yahoo.com/p/w/wfmi.html
STATUS: Continues in a handle to a cup pattern that has developed into a flat consolidation along its short-term MVA's (10 and 18 day at 27.75 and 27.62, respectively). It gapped up to recent highs today (28.30) but pulled back intraday to close near the bottom of its recent range. Volume continued to be low (374,500; average 483,200). Looks like it could hold for a move back up. We will want to see the stock make its way back up and give us a breakout for positions.
PLAY: Breakout 29.55 on volume of 720,000, 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.

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