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Email Version, Section 1, Monday, 01/31/2000

The Newsletter           Monday 01/31/2000 1 of 1
Copyright 2000, All rights reserved.  
Redistribution in any form is strictly prohibited.  

 - Your World Leader for Trading Stock Splits on the Internet - 

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In This Newsletter:

Market Commentary - Another volatile day........
Split Announcements - ACDO, INSP, AUGR, JKHY, ARMHY, OTTR, ONXS, 
Editorial - Ericsson's Earnings Blow Past Analysts' Estimates  
Play-of-the-Day - LLTC, Linear Technology  


Market Commentary

Another volatile day........

By the end of trading last Friday, Wall Street looked like a crime 
scene.  As we told you over the weekend, traders appeared to have 
inflicted serious harm to themselves and the markets by trying to 
once again jump the gun on the release of important economic 
numbers.  In the course of explaining the carnage that remained 
in Friday's aftermath, we used a couple of clichés to put things 
into perspective.  Well, at the risk of overdoing it, let us use 
one more.  "Another volatile day for the markets in January".  
This has become THE market cliché for 2000.  Well, the last day 
of January will go down as the day most befitting the cliché, at 
least on the Nasdaq.  

The Markets diverged at the opening, with the Dow and the blue 
chips trading up from the get go, while the Nasdaq continued 
Friday afternoon's sell off.  Buying on the NYSE was weak to 
begin with, but became fairly broad based as the morning wore on.  
Meanwhile, selling on the Nasdaq was broad based.  The tech stocks 
led the Nasdaq down over the course of the morning and by midday 
had dropped another 135 points or 3.5%.  This move took the 
composite index down to and through the 50-dma.  As we indicated 
over the weekend, this level would be a real test.  Fortunately, 
the Nasdaq was helped by the enthusiasm on the Dow, where traders 
had decided that a Fed rate hike would probably be limited to a 
25bp move due to the more than 1000 point drop on the Dow from 
its all time high.  Feeling secure that the bond and markets had 
already reflected the smaller move (as opposed to the 50 point 
move); traders decided that the techs were worth placing their 
money back into as well.  This propelled the Nasdaq to bounce 
very strong off the 50-dma, trading up throughout the second half 
of the day, finishing right at its high.  Remarkably, by the end 
of trading, the Nasdaq had managed to close up over 1.4% for the 
day, representing a swing of 188 points.  Equally remarkable, the 
Dow managed to hang on to most of its gains, finishing up almost 
2% on the day.  Considering the amount of money that poured into 
the Nasdaq throughout the second half of the day, one would have 
thought that the Dow would have sold off some, but buying remained 
fairly broad based.  Evidence of this could be found in the fact 
that along with the Nasdaq, the S&P 500 finished right at its 
high for the day.  Leading the blue chips throughout the day were 
the drug stocks, retail, utilities, telecoms and most 
impressively the financials.  On the Nasdaq side, techs were led 
back up by the semiconductor issues.  The semiconductor index 
(SOX) closed out the day the overall index leader, gaining 3.9%.  
As we said previously, the 31st should befittingly be remembered 
as "the" volatile day in the volatile month of January.  

Regarding trading on the Dow, it finished up +201.66 to close at 
10,940.53, within easy striking distance of the previously visited 
11,000 mark.  Volume was a little light compared to recent days, 
coming in at 971 million.  Up volume outpaced the down volume by a 
2 to 1 basis, although the advance decline line maintained its 
negative trend, with decliners winning out once again 16 to 15.  
The number of new lows grew considerably, 175, especially on a 
day when the index gained over 200 points.  Winners included C 
+0.88, AXP +6.5, JPM +4.88, HD +1, INTC +4.94, XOM + 4.56, SBC 
+3.75 and T +3.88.

As for the Nasdaq composite, it gained +53.28 points to finish at 
3940.35, back within striking distance of 4000, a significant level 
for that index.  The up/down volume managed to come in flat, but 
the advance decline line in the index managed to maintain its 
negative bias as well, finishing in favor of the decliners 26 to 
16.  Well over 100 companies manage to set new lows on the day.  
Among those companies playing leadership rolls in the afternoon 
comeback; SUNW +3.5, ALTR +2.38, CSCO +5.63, YHOO +8.56, SCMR 
+9.13, LVLT +13 and BRCM +5.31.  

In the other indices, the S&P closed up at its high, adding 
+34.30 to finish at 1394.46.  The SOX gained +29.05 to finish at 
778.06, well within range of 800-its own significant level.  The 
Russell 2000 gave back more again Monday, losing -8.39 to finish 
at 496.23.  This is significant because the 500 level is an 
important level for this index, which up until several days ago 
was the leading index for 2000.  After action today and Friday, 
the RUT is now under water.  Failure to get back over the 500 
level soon would probably mean bad news for the small caps. The 
Dow Utilities finished up +8.56 to close at 315.14, while the 
Transports continued to slide, losing -10.10 and closing at 

The bond market remains captive to the upcoming FOMC meeting.  
Traders lost the appetite they developed for the 30-year bond on 
Friday, abandoning the treasuries for the financial stocks, 
especially in the latter part of the day. The bond finished down 
a half point at 6.49%.  Until traders can be certain of the actual 
rate hike and straighten out the inversion problem with the 2 year 
note (mentioned over the weekend), the bond market will continue 
to fluctuate in a seemingly non-sensensical fashion.

There were a couple of stories of significance today.  The most 
notable was probably that of (AMZN), who reported that 
it's buying 5% of Audible (ADBL), an audio services provider.  
Amazon will promote Audible on its site and provide $30 million 
over three years in return for access to over 200 thousand hours 
of digital audio content for its customers.  AMZN finished up 
+2.88 at $64.56 while ADBL closed up +1 at $15.50.  In light of 
the recent unease regarding Amazon's ability to profit in the 
long run, coupled with investors waning patience over their 
unending buying spree to "build out", it was a little bit of a 
surprise to see investors greet the news with enthusiasm.  

The other story has longer-term implications for the telecom 
and the Internet sectors.  There were reports that Qualcomm was 
close to clinching a mobile communications deal with China's 
second largest phone company to provide equipment and possibly 
service.  The news helped to reverse the heavy sell off the 
stock incurred on Friday, adding +16.44 to finish at $127.

The earnings calendar remains heavy, with a little less than a 
third of the S&P 500 companies set to report this week.  For 
today, over 50 companies reported, with roughly the same number 
set to report tomorrow.  As we have been warning now for the last 
2 weeks, you need to consult an earnings calendar to be aware of 
who's reporting and when.  Even if the companies you follow are 
not due to report, they can and probably will be affected by 
industry partners or competitors who are slated to report.  This 
is the last of the heavy reporting weeks for the first quarter, 
so you can expect the earnings volatility to continue throughout 
the week.  

We had a number of companies declare splits today, including; (INSP), Accredo Health (ACDO), ARM Holdings plc 
(ARMHY), Otter Tail Power (OTTR), Molex (MOLX), Jack Henry and 
Associates (JKHY) and Onyx Software (ONXS).  With the heavy week 
of earnings numbers still in front of us, we expect numerous more 
announcements prior to weeks end.  Check the split calendar on 
the site for information on these and any of the other announced 
splits as well as the candidate companies we expect to announce 
in the near-term future.

Regarding trading tomorrow, it's anybody's guess, is another well 
used cliché.  At this point, you would expect to see some follow 
through on the buying that set in during the second half of trading 
on the Nasdaq, let alone the sustained buying that occurred 
throughout the day among the blue chips.  The wildcard to all of 
this is the FOMC meeting set to start tomorrow and last through 
Wednesday.  From one hour to the next, you hear rumors or 
prognostications and let's face it-flat out guesses, as to what 
the Fed will do.  Almost everyone at this point has conceded a 
rate hike of 25 points.  The majority of those same people believe 
that the market can and probably will rally if that is in fact what 
the Fed does.  The thing to keep in mind is that the Fed realizes 
that as well, so you can bet that there will be more than one Fed 
Governor arguing that the markets are going to use the 25 point 
increase as an excuse to run again, thereby negating the hoped for 
effect on cooling the economy.  Those Governors know that they 
need to dampen the spending and enthusiasm in the market and in 
general to slow the economy.  The last thing they want to do is 
to trigger another market rally at this time with an action meant 
to reign in the economy.  The other thing to keep in mind is the 
fact that when all is said and done regarding the FOMC meeting 
and whatever hike they impose, you are still left with a February 
market-traditionally one of the weaker months for positive market 
returns.  Keep the stops tight and watch your positions.  

Louis Horkan
-Chief Editor 

Split Announcements

Monday, January 31, 2000, Before the Bell

Accredo sees 2nd quarter earnings rise 148%, declares 3:2 split

Accredo Health Incorporated (Nasdaq:ACDO) announced a three for 
two split early this morning.  The common stock will split for 
shareholders of record as of February 11, 2000, and be delivered 
by the transfer agent on February 21, 2000.  The announcement 
was released along with a report of very favorable fiscal year 
2000 second quarter numbers.  Earnings were up 148% at $2.4 
million versus $948 thousand for the year ago quarter.  Earnings 
per share came in at $0.24 (diluted) versus $0.15 (diluted) 
versus the same year ago quarter.  Revenue for the quarter 
increased 38% over their fiscal year 1999 second quarter.  

Accredo Health is a health care company based out of Memphis, 
TN.  Primarily, the Company contracts with biotechnology 
companies to provide pharmacy services for the treatment of 
chronic, long term diseases, such as; Crohn's Disease, hemophilia, 
Respiratory Synctial Virus and M.S.  Additionally, the Company 
provides services dealing with patient compliance and education, 
reimbursement expertise and overnight drug delivery.  The Company 
IPO'd their stock in April of 99' at $16 per share.  They have 30 
million shares authorized and approximately 9.2 million shares 
issued and outstanding.  Today's announcement marks the first 
stock split of shares of ACDO.

The stock has traded up from the IPO price to a high of $36.88, 
set this past September.  The current price for shares of ACDO is 
$33.13.  Average volume for the stock is approximately 130 
thousand on a daily basis.  Since setting the high, the stock has 
remained somewhat range bound between $28-$35.  Although we don't 
anticipate adding the stock to our Recommended Split List due to 
the low share price and trading volume, we will continue to 
monitor Accredo Health for any trading opportunities that might 

For further details on ACDO, please check back to view a complete 
profile.  For now, please click on the link below to view a chart 
on Accredo Health Incorporated.

Chart =


Monday, January 31, 2000, Before the Bell

InfoSpace to offer third 2:1 stock split inside one year, Inc. (Nasdaq:INSP) came out this morning to 
announce that their Board of Directors had approved a 2:1 stock 
split of the Company's common shares.  The split is contingent 
on an increase in the number of shares authorized.  The Board 
plans to seek written shareholder consent to approve an increase 
in the number of authorized shares from 200 million to 900 
million.  After approval, the Board will set the record and 
payable dates for the split, expected sometime in early to mid 
March.  The consent approval will be sought as soon as possible.  
Currently, has approximately 96 million shares 
outstanding. is a provider of content and commerce solutions.  
They provide private label solutions for websites and Internet 
appliances.  Their affiliate network consists of over 2500 
websites, including companies such as AT&T, Sprint, Nokia, 
Disney, AOL and Microsoft.  They are known primarily for their 
"real world" content, such as the white and yellow pages they 
provide for web and search sites, classified ads, stock quotes, 
weather, sports and other informative content.  The Company first 
went public in December of 98' at a price of $15 per share.  
Since doing so, shares of INSP have traded as high as $169.88 on 
a split adjusted basis.  Today's announcement marks the third 
stock split for the Company in the last year and the second split 
announcement out of InfoSpace since November 30th.  The Company 
just completed the previous split earlier this month.

The Company announced their last split on November 30th when the 
stock was trading at just over $100.  Shares of INSP traded as 
high as $227.50 before closing at $189 on January 4th, the payable 
date for that split.  After the split, the stock opened for trading 
the next day at $93.94, having since increased by over 50% in the 
ensuing month.  Volume remains high for this stock at over 1.5 
million on an average daily basis.  The meteoric rise of this 
stock is testimony to the fact that it is a favorite among 
investors and momentum traders alike. enjoyed a 
very profitable ride on their last split run and you can expect 
that we will be adding the stock to our Recommended Split List to 
participate this time around as well.

For further details on INSP, please check back to view a complete 
profile.  For now, please click on the link below to view a chart 
on, Inc.

Chart =


Monday, January 31, 2000, Before the Bell

E-publisher issues 3-for-1 stock split

Auto-Graphics, Inc (OTC Bulletin Board: AUGR) announced before 
trading this morning that their Board of Directors had approved a 
3:1 stock split of the Company's outstanding common shares.  Their 
transfer agent will deliver the new shares on February 25th for 
shareholders of record as of February 11, 2000.  Currently, there 
are 1.6 million shares outstanding, 4 million authorized and an 
average daily volume of 1,000.  

Based in Pomona California, Auto-Graphics has been helping 
libraries and corporate publishers to deliver and store large 
electronic databases since 1950.  They are one of the leading 
suppliers of automation software for libraries and electronic 
publishing solutions.  This will be the Company's first stock 
split.  At today's announcement, shares were trading at $25.00.

As per our policy, does not monitor OTC bulletin 
board stocks since trading volume is too low and risk too great.
No profile forthcoming.

Please click on the link below to view a chart on Auto-Graphics, 

Chart =


Monday, January 31, 2000, Mid Morning Trading

JKHY declares stock and cash dividends.

Jack Henry & Associates, Inc. (NASDAQ-JKHY) announced a 2:1 split 
today, to be paid in the form of a 100% stock dividend.  The split 
will be distributed on March 2nd to shareholders of record as of 
February 17th.  Following the split, there will be approximately 
40.5 million shares of JKHY outstanding with a float of 27 
million.  There are currently about 20.2 million shares 
outstanding and 50 million authorized for issuance.

The Company also announced a quarterly cash dividend of $0.10 per 
share, which represents a 25% increase from the previous dividend 
in December.  This dividend will be paid on March 2nd to holders of 
JKHY shares as of February 16th.

Jack Henry & Associates, headquartered in Monett, Missouri, 
provides banks and other financial institutions with integrated 
computer systems and services.  They offer data processing 
solutions through their patented applications software for IBM 
computers.  JHA sells both hardware and software products for 
in-house data processing and alternatively offers service bureau 
data processing.  The Company also provides automatic teller 
machine networking products.  

JKHY has enjoyed a significant run up from below $35 in the 
beginning of November to a high so far today of $60.75.  This 
will be the Company's fifth split since 1992, but will be their 
first 2:1. Trading for the stock has been somewhat light; 
averaging 121 thousand trades a day.  The share price and light 
trading volume will preclude us from adding the stock to our 
Recommended Split List right away, but we will continue to 
monitor trading in JKHY to determine if a future position in the 
stock is warranted. 

For further details on JKHY, please check back to view a complete 
profile.  For now, please click on the link below to view a chart 
on Jack Henry & Associates, Inc.  

Chart =


Monday, January 31, 2000, Mid Morning Trading

Fourth quarter results and a 5:1 proposal announced by ARM 
Holdings plc

European microprocessor manufacturer, ARM Holdings plc, announced 
fourth quarter and year end results this morning, which prompted a 
proposal for a 5:1 stock split.  An Annual General Meeting will be 
held on April 18th to vote on the motion to split the shares, 
which trade as American Depository Shares (ADS) in the United 
States.  ARM Holdings trades on the Nasdaq Exchange under the 
trading symbol ARMHY.

The Company has seen 47% growth in revenues, matched by a profit 
increase up over 90% for the quarter. Pre-tax income for the 
fourth quarter of 1999 was 6.6 million pounds, compared to 3.0 
million pounds for fourth quarter of 1998.  Earnings per share 
(diluted) were 20.8 cents ADS versus 4.5 cents for this time last 

ARM Holdings has become an industry leader of the embedded 32-bit 
RISC microprocessor core and aims to become the standard for the 
industry.  It is expanding into other areas, such as automotive 
applications and digital audio solutions.  Their collaborative 
partnerships include Texas Instruments, Ericsson, Intel and 
Lucent.  The Company has had one previous split, a 4:1 this past 
April.  Currently, there are 67.5 million shares outstanding and 
316 million authorized.  The current float for the common shares 
is approximately 25.6 million.

The ADS for ARM hit a split adjusted record just prior to this 
past year-end, trading to $205.13.  Since then, shares have 
declined somewhat, closing last Friday at $158.75 before gapping 
to open this morning at $174.25 and trading as high as $183.25.  
Average volume for the shares is just over 85 thousand, although 
trading today has already surpassed that number.  Despite the 
dramatic share price increase over the last year, ARMHY continues 
to trade somewhat illiquidly, which would preclude us from adding 
it to our Recommended Split List right away.  We will monitor the 
shares to see if an increase in volume occurs, in which case we 
might very well take a position. 

For further details on ARMHY, please check back to view a complete 
profile.  For now, please click on the link below to view a chart 
on ARM Holdings plc.  

Chart =


Monday, January 31, 2000, Prior to the Close

Power Company increases dividend, calls for 2-for-1 stock split

Otter Tail Power Company (Nasdaq: OTTR), utility company of 
Minnesota and the Dakotas, approved a 2:1 stock split of common 
shares, along with boosting its quarterly dividend to $0.51, up 
from $0.495. Payable date for the split is March 15 for 
shareholders of record as of February 15. There are 11.9 million 
shares outstanding.

Otter Tail has produced and distributed electric power since 1907.  
They have a 50,000 square mile service area, with over 125 
thousand customers.  This will be the Company's second split, the 
first being a 2:1 in 1988, near the share price of $40.  Today's 
announcement came with the stock trading around $35, down from 
last October's high of $45.

With the Company's low share price and an average trading volume 
of 12.6 thousand shares on a daily basis, we don't anticipate 
adding them to our Recommended Split List any time soon, but we 
will continue to monitor trading in the Company.

For further details on OTTR, please check back to view a complete 
profile.  For now, please click on the link below to view a chart 
on Otter Tail Power Company.  

Chart =


Monday, January 31, 2000, After the Market

MOLEX Inc. announces stock and cash dividends in celebration of 
their new director.

As the Board of Directors met to appoint their new member, Martin 
Slark, they decided to implement a 5:4 stock split.  The split 
will be paid in the form of a 25% stock dividend on March 6th to 
shareholders of record as of February 14th. Both their Common 
Stock (NASDAQ:MOLX) and their Class A Common Stock (MOLXA) will 
be split on the same basis. Molex went public in 1972 and this 
will be the 14th split of the stock.  The Company has 79 million 
shares of the common stock outstanding with 200 million authorized.

The Company also declared a regular quarterly cash dividend of 
$0.025 (post-split), representing an increase of 25%.  This 
dividend will be paid on April 25th to shareholders of record on 
March 31st.  The dividend applies equally to MOLX and MOLXA 
holders and will continue until the board chooses to modify it.

When Molex was founded in 1938.  It produced such items as clock 
cases, salt tablet dispensers, flowerpots and valve wheels.  Over 
60 years later, Molex has developed into the second-largest 
connector manufacturer on the globe.   Molex's electronic 
components are used in the business and computer equipment markets 
as well as the automotive industry.  Their products include 
terminals, connectors, fiber optic interconnection systems, planer 
cables and cable assemblies.  

MOLX has lingered close to $50 since late November but recently 
achieved a high of $57.56. Volume has dropped significantly to an 
average in the past 10 days of 494 thousand, down from 890 
thousand over the previous 3 months.  It picked up with news of 
the split, though, closing with an impressive 964 thousand trades.  
We don't anticipate adding the stock to our Recommended Split List 
due to the limited trading range and limited near-term upside 
potential, but we will continue to monitor the stock in the event 
that a positive upside trading pattern might emerge.

For further details on MOLX, please check back to view a complete 
profile.  For now, please click on the link below to view a chart 
on MOLEX, Inc.  

Chart =


Monday, January 31, 2000, After the Market

Board of Directors approves first split for software supplier

Onyx Software Corporation (Nasdaq:ONXS), supplier of e-business 
solutions, announced after the market today a 2-for-1 stock split 
of the Company's outstanding common shares.  Stockholders of 
record on February 15, 2000, will have shares delivered by the 
Company's transfer agent on March 1.  Post-split trading will 
begin on March 2. 

The triggering event for the split announcement would be the 
release of record results for its fourth quarter and calendar 
year ending December 31, 1999.  Onyx reported a $0.17 increase 
of earnings over last year.  Excluding acquisition-related charges, 
net income was $0.07 per share, versus a net loss last year of 
$0.10 per share for the year ago quarter.

Onyx Software is a leading provider of management software 
solutions based on MS Windows NT and MS BackOffice platforms. Its 
award-winning products operate globally; integrating e-business 
with customers, partners, sales, marketing and service.  The 
Company went public last February at $13 per share and recently 
traded to a 52-week high at $59.94.  Average trading volume for 
the stock is 252 thousand.  The Company has an available trading 
float of 4.2 million shares, with 17.6 million shares outstanding.

Shares of ONXS have doubled in price since the beginning of 
November, coupled with an increase in volume.  This indicates 
that traders and investors alike have taken notice of this 
Company's stock, as well as the potential for tremendous upside 
appreciation the limited trading float affords.  At, we have taken notice as well and plan to monitor 
the stock to determine if and when an opportunity might arise to 
add shares of ONXS to our Recommended Split List.  

For further details on ONXS, please check back to view a complete 
profile.  For now, please click on the link below to view a chart 
on Onyx Software Corporation.  

Chart =


Monday, January 31, 2000, After the Market

EXAP applies 2:1 stock split with news of earnings.

Exchange Applications (NASDAQ:EXAP) announced the split after the 
market today as decided by the Board of Directors. In order for 
the split to be executed, the shareholders must vote to increase 
the number of authorized shares.  This meeting is planned to take 
place on February 29th. Further details regarding the split will 
be released after the SEC has approved the preliminary proxy 
materials submitted by the Company today.  There are currently 
approximately 12.2 million shares outstanding and 30 million 
authorized, illustrating the need for the shareholder meeting. 
This will be the Company's first stock split since its IPO in 
December of 1998.

Also after the market, the Company declared impressive 
improvements in their earnings for their fourth quarter as well 
as for the year.  Earning $0.09 per share for the quarter, 
Exchange Applications gained 488% from the fourth quarter in 1998 
and 58% from third quarter 1999. In addition, net income for the 
fiscal year increased from -$0.12 per share in 1998 to $0.22 for 

Exchange Applications provides e-commerce solutions that optimize 
relationships between companies and their customers.  Their eCRM 
software guarantees that the interactions between the customer and 
company are relevant and timely.  Exchange Applications caters to 
many of the most innovative, high profile companies globally, 
providing them the means to fortify the connection between the 
companies who use their technology and their customers.  

EXAP has enjoyed price appreciation from $50 at the year's 
commencement to a close today of $87.25, having traded over $100 
recently.  Trading volume has since slowed to about 129,000 per 
day.  With the recent correction and slow down in trading volume, 
we will want to monitor the stock to determine if an appropriate 
situation arises that would make it worthwhile to add it to our 
Recommended Split List.

For further details on EXAP, please check back to view a complete 
profile.  For now, please click on the link below to view a chart 
on Exchange Applications.   

Chart =


Ericsson's Earnings Blow Past Analysts' Estimates
By  S.P. Brown

There must be a causative relationship between cold weather 
and mobile phone manufacturing.  How else can you explain the 
fact that two out of the three largest mobile phone 
manufacturers reside near the Arctic Circle?  Together, 
Scandinavian telecoms Nokia (NOK) and Ericsson (ERICY) control 
over 40 percent of the mobile phone market.  And not only do 
they control a big chunk of this fast-growing market, they 
also make money on what they do control, as witnessed by 
ERICY's recent quarterly earnings numbers.  

For the complete article go to:


LLTC - Linear Technology $94.69 +3.94 (+3.94)


LLTC once again outperformed the Semiconductor Index (SOX) for 
the second day in a row, losing only 2.16% compared to a loss of 
3.81% on the Index. While a loss is still a loss, less is better 
in this case. LLTC found support Friday at $89.63, before 
closing at $90.44, with short-term resistance remaining at $94, 
just below the day's high. The reality for now is that the stock 
managed to barely hang onto support at $90, closing just off the 
low for the day. Continued weakness in the broader markets will 
probably cause this stock to trade down and test support at the 
20-dma of $85. As previously mentioned, we definitely have time 
for this play to continue to develop, with a payable date of 3/27, 
so we urge patience and caution. You should set a stop below the 
20-dma to protect against a complete meltdown and wait for an 
upside confirmation to enter new positions, in this case a close 
back above $94. As always, we look to exit our position no later 
than the day before the payable date.

Picked on Jan 25th @ $94.00 
Change since picked +0.69

Chart =

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This newsletter is a publication dedicated to the education 
of online stock traders. The newsletter is an information 
service only. The information provided herein is not to be 
construed as an offer to buy or sell securities of any kind. 
The newsletter picks are not to be considered a recommendation 
of any stock but an information resource to aid the investor 
in making an informed decision regarding how to trade stock
splits. It is possible at this or some subsequent date, the 
editors and staff of may own, buy or sell 
securities presented. All investors should consult a qualified 
professional before trading in any security. The information 
provided has been obtained from sources deemed reliable but is 
not guaranteed as to accuracy or completeness. 
staff makes every effort to provide timely information to its 
subscribers but cannot guarantee specific delivery times due 
to factors beyond our control.


Copyright 2001

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