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Begin Part 3 of 3

DF (Dean Foods--$73.59; +0.01; optionable): Splits 2:1 effective 4-24-02.
http://biz.yahoo.com/p/d/df.html
STATUS: DF has made an excellent move, running back up after having dipped hard out of its handle last week (to a cup dating back to late December). Volume kicked back in on the move, and Monday DF broke out. It slowed today to a doji, testing back through the former handle high (73.40) at its low. Volume was way down at 106,500 (average 553,200), so DF could just be resting here. Looking for more on the move. Targeting 80.
PLAY: Over 74.10 on increased volume of 800,000, with stock and/or June $70 calls to buy (DF FN - no open interest as yet for May). Stop: 69.

WTNY (Whitney Holding--$49.98; -0.19): Regional Bank. Splits 3:2 effective 4-10-02.
http://biz.yahoo.com/p/w/wtny.html
STATUS: Good breakout, but pulled back a bit today for a rest. WTNY recently broke from a two-month consolidation, and then pulled into another, shorter consolidation that served as a handle to a cup dating back to August. Last Friday WTNY broke out with a very strong move, taking out the prior high of 49.10, and the stock continued up Monday. After a gap down today, the stock pushed back up a bit, so we will see if it can continue the upward momentum. Target is still 56.
PLAY: 50.35, with stock only.

CONTINUING CANDIDATES BEST PLAYS: Also looking at AZO and PII.
1) INVN - Breakout test

INVN (Invision Technologies--$45.94; -0.13; optionable):
http://biz.yahoo.com/p/i/invn.html
BACKGROUND: Based upon our research it does not appear that INVN has ever split its stock. The company has sufficient shares for a 3:2 split.
STATUS: Holding at the prior pattern highs on the test of its recent breakout (from a three-month ascending wedge). Volume has been nice and low on the test, and today INVN showed another doji as volume dipped again (775,700; average 2 million). Looking good on the test, and we will look for volume to kick in on a move back up. Still targeting 57.
BUY POINT: 47 on above average volume. Stop: 43.71 (7%).
POSITION: Stock and/or July $45 calls to buy (FQQ GI).

POST SPLITS BEST PLAYS:
1) GILD - Broke out!

GILD ($38.54; +1.14): Split 2:1 effective March 8.
http://biz.yahoo.com/p/g/gild.html
STATUS: Broke out today! GILD has been in the choppy handle to its choppy saucer, and after holding the 10 day MVA (36.59) in the handle, made a good move up Monday and followed up today. Volume was up again at 3.59 million (average 2.3 million), and GILD hit a high today of 39 before pulling back to close. A lot of strength, and a buy on this move up to 39.80. Target is 44.
PLAY: With continued strong volume and a move up from here, a buy up to 39.80, with stock and/or August $35 calls to buy (GDQ HG). Stop: 35.84-37 (7%).

WATCHLISTS:

PRE-ANNOUNCEMENTS WATCHLIST: AHC (4/24), AROW, BRL, CYN (4/16), DRYR, EXPD, GTK, LE, PDCO, STU and XL.

MRBK ($45.17; -0.03): Working on split range. At a new high, but inching up along the 10 day MVA (44.80). Still looking for a strong break, with a buy point of 45.46 on volume of 300,000. Stock only.

MUR ($91.32; +1.30): Working on a new date. Gapped up and took out the buy point on good volume (304,000; average 230,000), showing a loose doji. We will see if it can continue the move or if it will test 90 before a further run. A buy on this move up to 94.75 with continued strong volume. Stock and/or July $85 calls to buy (MUR GQ).

FITB ($69.40; +0.64): Forecast to announce a split on 4-16-02 before the market in conjunction with earnings. Continues up with below average volume after the big move last Friday, so we will watch for a possible test of the 68 level, but we can look at new or additional positions on a run back up from there on volume of 1.6 million or better, with stock and/or May or August $65 calls to buy (FTQ EM or FTQ HM).

KRI ($69.01; +0.23): Forecast to announce a split on 4-24-02 before the open. There is also the shareholder meeting the next day at 9:30 PT. Made the breakout on weak volume, and then volume kicked in today as the stock showed a "tombstone" doji. That indicates a reversal, so we will see if it can hold the former pattern highs at 68.

SLM ($95.76; -0.40): Researching a new date. Continuing to trend up the short-term MVA's (18 day at 94.07), pulling back the last couple of sessions. It has made three runs from the 18 day, so it could give us one more. Targeting 105.

LSTR ($89.97; -2.71): Researching a new date. Made a fine breakout move, but volume was huge (269,600; average 64,000) as LSTR dropped back hard today. There is support at its recent range at 87.50 (18 day at 88.41), so we will see if it can hold, but the momentum from today is strong.

RUS ($32.15; +0.18): Made the breakout Monday but did not have volume. Today it continued up but could not hold, pulling back from 32.33 and showing a loose doji as volume increased sharply (50,500; average 23,000). The pattern indicates a pullback, so again we will see if it can hold the recent pattern highs on a breakout test and set up for a stronger move.

BER ($56.62; -0.48): Researching a new announcement date. Continues to trend up in the right side of its cup pattern along the 10 day MVA (56.32), touching that level today as it pulled back on lower volume. Could give another solid bounce, and we will look for that if it can show us that it will hold.

DRS ($39.05; +0.03): Holding the 50 day MVA (38.25) in a large ascending wedge. We will see if it can continue to hold and make a move up to the recent high of 42.80.

PRE SPLITS WATCHLIST: DHI is trying to hold the January-February highs. CUB fell as expected, but held its 18 day MVA at its low today. THQI is still foundering around its 50 day MVA. PMI continues to trend upward.

MKC ($48.85; -0.20): Splits 2:1 effective 4-9-02. Reached up to 50.10 but retreated on very strong volume (476,100), and this is a topping sign that we are careful to heed, especially with pre-splits. Support at the short-term MVA's is at 47.50.

WRI ($50.70; 0.00): Splits 3:2 effective 4-16-02. Showing erratic behavior, holding the 18 day MVA (50.50). Looking for a hold here, and the aggressive can play a move over 51.20, with stock.

CONTINUING CANDIDATES WATCHLIST: When splits are not announced, we will keep the best split prospects on the report rather than continue to carry all of them in case there is a an unexpected announcement. We will continue to monitor the stocks that are trimmed and add them again when we ascertain a revised split announcement date. These include APPB, AZO, BBBY, DHR, DIAN, EDS, ETH, GNSS, GOSHA, HB, JCI, LLL, RARE, STJ, TGH, TGIC, THC and YUM.

BBY ($79.95; +1.95): Made the breakout over the January high (77.20), but the continued push today was rather weak as BBY closed at resistance from prior highs at 80. Still looking for more volume, but it might pull back and set up better on a test of 77.

IGT ($62.00; +0.49): Consolidating over what has been support at the 60 level (with the January-February lows). Still watching for a drop, with the target 58.50 (200 day at 58.47).

RYL ($88.42; +1.35): Stopped the drop for the time being, twice tapping down below 86 (today 85.81) but pulling up to close. Homebuilders showed strength today, so we will watch put positions carefully for a possible exit if the stock pushes back over the 10 day MVA, at 90.23.

MI ($63.32; -0.03): Has tried to break out, making a solid move Friday but after gapping up Monday on lighter volume, it gapped up slightly and reversed today. Not looking like it wants to move at the moment, but we will see if it can hold the 63 level.

PII ($65.61; +1.34): Holding in a consolidation after a great breakout move. The target on the initial breakout was 69, but on a continued strong move from here we will adjust that to 72. On a move over 66.25, on increased volume (153,000 today), with stock and/or June $60 calls to buy (PII FL - 51 open interest).

POST SPLITS WATCHLIST: Watching BLL, BSG, CHS, NJR, SONC, VAR and WERN.

ACS ($56.00; -0.75): Split 2:1 on 2-25-02. Great breakout Monday! Pulled back today on lower volume, and we will look for it to hold recent highs at 54.78 to set up another buy point for new or additional positions.

CHBS ($31.69; +0.29): Split 3:2 in December. Could not break out of the handle, so we will see if it holds the 31 range on a pullback off of today's doji.

MGAM ($35.39; +1.12): Split 3:2 on February 12. Continued up with a strong move, today showing strong volume of 347,300 as MGAM hit a new high and our target. Looking for continued strength as it trends up the 18 day MVA (31.63).

SMD ($17.50; -0.85): Split 3:2 effective 3-18-02. Has pulled back post split, but is holding the prior pattern highs at 17 (10 day MVA at 32.88). We will see if it can hold.

ICUI ($33.97; -0.40): Split 3:2 effective 3-18-02. Continued its 50 day MVA (33) by gapping up and hitting 35.24, but pulled back. It could be headed back to the 50 day from here.

WLP ($61.65; -0.83): Split 2:1 effective March 18. Another bounce that lasted through the split date but pulled back to support today, holding the 50 day (61.12). We will see if it can hold that support and set up.

Good Investing!
Jon L. 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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