us stock market, stock split

Begin Part 4 of 4

POST SPLITS REMAINING PLAYS:

BAX (Baxter International--$54.00; +1.33; optionable): Health Services. Split 2:1 effective 5-30-01.
http://biz.yahoo.com/p/b/bax.html
STATUS: BAX has been relentless post-split, charging up the past week from support at the 49 range (the 18 day MVA, currently at 50.50). After looking like it would pull back after closing well off its high Wednesday, BAX blasted up again today on good volume (3.44 million; average 1.56 million). Too extended to chase now, so we will see if BAX comes back with some profit taking. It is close to our initial target on this move, at 55-56.
PLAY: A move up after the stock pulls back on lower volume and holds the 52.50 range, with stock and/or August $50 calls to buy (BAX HJ).

BRCD (Brocade--$40.00; +1.75; optionable (UBF): Telecom
http://biz.yahoo.com/p/b/brcd.html
STATUS: Fell back below its recent rolling range this week, but after hitting down to 34.34 it has moved back up the last couple of sessions, closing today just under its 10 day MVA (40.02; 50 day MVA at 41.49) as volume remained rather strong (17.4 million; average 14.9 million). It does not look promising for a move up, and we will continue to eye it to the downside in the event of market weakness and strong selling down. We are still targeting as low as 30 if it can get by the recent low.
PLAY: In a weak Nasdaq, a drop on continued strong volume, with August $50 puts to buy (UBF TJ). In this market we will carefully be ready for a bounce back.

CAKE (Cheesecake Factory--$26.67; +2.07; optionable): Restaurant. Splits 3:2 effective 6-19-01.
http://biz.yahoo.com/p/c/cake.html
STATUS: What a move! CAKE blasted out of its recent consolidation over the 10 day MVA (24.50), launching a post-split move on good volume (up to 483,200; average 411,700). It closed at its high and is now just below its May intraday high at 26.80; we will look for a bit of a move back with this one after that move, watching for it to hold on the 26 range for a move back up and over the May high. Target: 29.
PLAY: After a pullback that holds the 26 range, a move back up on increased volume, with stock and/or October $23.38 calls to buy (OCF JX). Stop: 24.18 (or just below the 50 day MVA at 24.19).

DP (Diagnostic Products--$38.12; +0.64; 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 (37). It is trapped between that level and the 10 day MVA (38.34) at the moment, so 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 39 with continued strong volume (down to 114,900 today; average 65,200), with stock and/or September $35 calls to buy (DP IG).

EMLX (Emulex--$32.81; -1.50; optionable (UMQ): Computer Hardware: Peripherals
http://biz.yahoo.com/p/e/emlx.html
STATUS: EMLX is struggling below resistance in the form of several moving averages, moving back down from the 10 day today (33.76; 50 day at 36.23). It has been holding 30 at its lows, so we will see if, in a weak market, the stock makes a move back below 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 (up to 6.43 million today; average 6.33 million), with August $40 puts to buy (UMQ TH).

FIC (Fair Isaac--$54.38; +1.68; 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 (53.13 and 52.85, respectively). After topping at 56.27 last week, the stock made another move today from its 18 day, making a nice move on good volume (127,400; average 92,600). We will see if it has more, but with any positions we will use care with stops as it has made quite a big run. Still shows strong money flow and buying.
PLAY: Aggressive: A move over 55 on increased volume, with stock.

GENZ (Genzyme--$55.92; +0.43; 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 (52.28, in the lower range of its May consolidation). GENZ made a solid move back off of that level Wednesday, following up today with a loose 'star' doji, hitting up to 57.32 at its high and down to 54 at its low (18 day MVA). We will need to see if it can sustain something, but off of this pattern it could test the 18 day again. Excellent relative strength, with very strong money flow.
PLAY: Pullback: A move up on continued strong volume (3.4 million today; average 3 million) after a pullback holds the 18 day MVA, with stock and/or October $50 calls to buy (GZQ JK). Breakout: Over 58.44 on increased volume, with stock and/or October $55 calls to buy).

LH (Laboratory Corp--$79.00; +2.00; 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 is holding its short-term MVA's (10 and 18 day at 77.97 and 76.61, respectively). It bounced up from the 18 day today, but remained within its recent, post-split lateral range. Not acting bad in the handle of its cup with handle base, 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 81 (recent pre-split high at 82.50) on continued strong volume (606,000 today; average 483,000), 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).

SEBL (Siebel--$44.76; +1.29; optionable) (SGW): Application Software
http://biz.yahoo.com/p/s/sebl.html
STATUS: SEBL got creamed last week, but has managed to battle back to its 50 day MVA (44.83), closing there today after reaching up to 45.94 at its high. It is trying to move, but volume is not really there (up to 14.3 million; average 17 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 over the 50 day, a strong move back below 42 in a weak market on above average volume, with August $55 puts to buy (SGW TK).

WFMI (Whole Foods--$26.79; -0.23; optionable): Grocery Stores. Split 2:1 June 5.
http://biz.yahoo.com/p/w/wfmi.html
STATUS: Has formed a long handle to a cup pattern, and it was in a nice, flat consolidation until dropping back the last three sessions. Volume is increasing (up to 795,800; average 483,200) as it drops, and it is nearing its 50 day MVA (26.32). Perhaps this is a last shakeout, so we will see if it can make a strong recovery. Still looking for a breakout.
PLAY: Breakout: 29.55 on continued strong volume, with stock and/or August $27.50 calls to buy (FMQ HY).

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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