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Email Version, Section 1, Thursday 02/22/01
The SplitTrader.com Newsletter          Thursday 02/22/2001 1 of 1
Copyright 2001, All rights reserved.
Redistribution in any form is strictly prohibited.

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

Posted online for members at: http://www.SplitTrader.com

To view this email newsletter in HTML format with imbedded
charts and graphs, click here:

http://www.splittrader.com/htmlemail/022201_1.asp
==================================================================

In This Newsletter:
===================

Market Commentary - Volatility Reigns
Definition of the Day
Thursday's Split Announcements - DGX
Friday's Expirations
Stock Plays - New - Updates - Drops
Friday's Play-of-the-Day - IGT

==================================================================


Market Commentary
=================

Volatility Reigns

The indices were all over the board today.  This is indicative
of the high levels of uncertainty, uneasiness and down right
pessimism that has taken over the markets in the past three
weeks.

When you have a highly respected growth fund manager like
Erick Gustafson of Stein Roe mutual funds come on CNBC and say
that he is buying tech only for a "trade", it is no wonder
that the market is running around with its collective market
cap cut off.  After all, these are the "pros" that currently
have no idea what to buy and whom are not willing to hold
stocks for more than a few days at a time!  As a side note,
the Stein Roe mutual fund web site indicates that its growth
fund aims to buy and hold stocks with a four to six year time
horizon in mind.

Nothing against Erick, I believe he is one of better managers
out there.  It just proves that the dark cloud over the market
has entranced even the upper echelon of the Street into
wondering if anybody will ever buy another computer again.

Extreme volatility like we saw today usually marks a market
bottom, although somehow I don't think we are there yet.
Until the market sees more aggressive rate cuts from the Fed,
we will continue to wallow in a market led by tobacco, defense
and food stocks.

In a sign of the times, the last of the invincible big techs
fell out of bed today.  Granted it didn't have very far to
fall since investors have been steadily whittling away at its
market cap since late January.

Yes, the king of memory storage, EMC Corp. (NYSE:EMC) lowered
its expected revenue growth for 2001 down to 25-35% from
previous estimates of 33-37%.  It blamed the uncertain
economic environment but indicated that it still might hit its
previous bogey of $12 billion if the economy doesn't worsen
too much more.

This warning out of EMC was rather surprising to investors.
All the while, as other tech companies were issuing warnings
left and right, EMC remained firm in its stance that memory
storage needs would not drop off since they are a vital
component to information technology systems.  EMC was also the
target of two brokerage house downgrades, which were based on
the fact that, what the heck, we downgraded every other
storage stock, why not EMC.  The stock landed at $37.18 on the
day, dropping $5.77 from yesterday's close.

Today's Markets

There were small-craft warnings up and down Wall Street today,
as stocks were taken sharply higher one moment, only to be
buffeted by sellers the next moment.

The NASDAQ (COMPX) traded in a 108-point range today but ended
down 23.98, or 1.06%, to close at 2244.96.  It wasn't that the
range was inordinately large; it was the complete lack of
direction that was notable.  The COMPX passed through
breakeven no less than nine times during the seesaw session.
Also notable was the volume.  NASDAQ volume came in a healthy
2.4 billion shares.

Over in the DOW (INDU), trading was just as choppy but the
outcome a little better.  The DOW finished up by 0.23 to close
at 10526.81.  Not much, but we'll take it.  Volume swelled to
1.3 billion on the NYSE and decliners beat advancing issues
1895 to 1138.

Treasuries ended mixed on the day as traders piled into short-
term maturities and sold off the longer dated notes.  The two-
year notes closed up 5/32 to yield 4.59%, the 10-year bond
closed off 5/32 to yield 5.16% and the 30-year bond sold off
by 19/32 to yield 5.53%.

The short end of the curve attracted buyers because traders
now believe the Fed is going to have to be more aggressive.
In fact, the Fed funds futures are now pricing in more than a
100% chance of a 50-basis point move at the March 20th
meeting.  To most, this premium on the futures gave the
impression that traders are anticipating another inter-meeting
surprise move by the Fed.  If the markets gain more momentum
on the downside, this obviously becomes more and more likely.

Stocks and Sectors on the Move

Banks and brokers turned the corner early in the day after
plummeting at the open.  This may be a sign that the market is
starting to convince itself that inflation is not a worry,
despite the recent economic figures that have indicated
otherwise.  If the market can convince itself that inflation
is not a worry and that the Calvary (read: the Fed) will be
along shortly to save us, then maybe we can at least trade in
a range for a while, before the Fed shows up with guns a
blazing.

Goldman Sachs (NYSE:GS) traded up $2.80 to $97.20, Merrill
Lynch (NYSE:MER) gained $2.72 to $62.10 and Bank of America
(NYSE:BAC) finished up $0.50 after being down $2.10 earlier in
the day.

The retailers, as measured by the S&P Retail Index (RLX.X)
continued to give up recent gains.  J.C. Penney (NYSE:JCP)
beat earnings estimates by $0.02/share by coming in with a
$0.03 loss/share but the stock sold off anyway.  JCP lost
$0.15, closing at $13.50.

Also continuing to ring up losses were shares of Kohl's
(NYSE:KSS), which lost $1.37 to close at $67.88.  Wal-Mart
(NYSE:WMT) lost $0.51 to close at $49.70 and Payless Shoe
Source (NYSE:PSS) lost $1.28 ending the day at $74.97.

Sometimes logic wins out over momentum.  These retail stocks
had been racing higher on the heels of expectations of an
increase in their sales figures.  However, given the fact that
the rest of the market has been selling off in anticipation of
tougher times in 2001, to whom are these companies going to
sell their wares?  An already shell shocked consumer will
probably not come out of the woodwork until the economy and
especially the stock market recovers and exhibits more
stability.

In after-hours action, Sun Microsystems (NASDAQ:SUNW)
announced at its mid-quarter conference call that it is
expecting earnings for its third-quarter to come in between
$0.07-$0.09/share.  This is off sharply from analysts'
previous estimates of $0.15/share and served to tank shares of
SUNW to new lows in after hours trading.  Again, the economy
and a slip in I.T. spending were to blame.  The bright side to
this report is that Sun announced a $1.8 billion stock buyback
program and indicated that its margins remain at 45%.

Looking Forward, Always Forward

No economic reports for Friday but traders will have plenty of
other issues to concern themselves with.  With after hours
NASDAQ action pointing to another bleak day in tech land, what
are traders to do?

The problem lately is that even within leadership groups such
as the food stocks, oil service stocks and retailers, nobody
is willing to commit to trades and stick out any selling
pressure.  This results in a lack of momentum, even within
strong groups of stocks.

With the NASDAQ taking out its previous low and with no
catalyst on the horizon until the end of March, the best thing
to do may be to get that watch list updated and be ready to
move if we get another inter-meeting rate cut.

Chart of the NASDAQ Composite:



With tech stocks trading near levels that have not been seen
since March of 1999, valuations have come down to levels that
are coming close, in most cases, to pricing in no recovery
until 2002.  Besides, these companies are not going away
anytime soon.  These are the companies that put us in the
predicament that we are in and they are the same ones that
will get us out.

How do you think companies knew to slam on the breaks so fast,
to adjust purchases down in order to avoid build-ups in
inventories?  Yep.  It was the supply chain management systems
and enterprise resource planning software produced by tech
companies that enabled firms to react so quickly to the
slowdown.  When the recovery starts, it shall be this same
enabling technology that will allow the recovery to commence
faster and with more gusto than previous recoveries.

In the mean time, the only sector that I can see that has some
momentum to the upside is the defense sector.  Recession or no
recession, stagflation or no stagflation, boom or bust our
country is going to open its fat wallet and spend money (much
of it provided by the tech bubble, ironic isn't it?) on
bullets, bombs and B-2's.  Stocks like United Technology
(NYSE:UTX), General Dynamics (NYSE:GD), Northrop Grumman
(NYSE:NOC), Alliant Tech (NYSE:ATK) and Lockheed Martin
(NYSE:LMT) have seen sustained rallies on higher volume
recently.

Chart of Lockheed Martin:



As always, in choppy times like these, keep those stops in
place and keep profit targets tight.  Have a relaxing weekend
we all deserve it!

Craig Seidler
Assistant Editor
www.SplitTrader.com


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Forecast Model on Friday evening February 23 (between 5:30
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************************************************************


Definition of the Day
=====================

In-the-Money Option

An option that is In-the-Money possesses intrinsic value.

For the complete definition, please go to:
http://www.splittrader.com/glossary/viewglossary.asp?glossaryid=179


===================
Split Announcements
===================

Thursday, February 22, 2001, Before the Bell

Splittrader Predicts Quest Diagnostics Split Announcement

Before the opening bell, the Board of Directors of Quest
Diagnostics Inc. (NYSE: DGX) announced their approval of a 2:1
stock split. The Company presently has 47 million shares
outstanding with only 100 million shares authorized, therefore
shareholders will vote on increasing the number of authorized
shares to 300 million before the split is executed.

For the complete announcement, please go to:
http://www.splittrader.com/announcements/022201_1.asp


====================================
Friday's Expirations by Payable Date
====================================

American Eagle Outfitters (AEOS) splits 3:2
EPIQ Systems (EPIQ) splits 3:2
Atlantic Coast (ACAI) splits 2:1
Accredo Health (ACDO) splits 3:2


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=====================
SplitTrader.com Plays
=====================

The PLAY LEGEND:

SplitTrader.com Play Recommendations.

Play-of-the-Day is our number one play recommendation for the
following trading day.
Updates are just that - updates on continuing plays.
New plays are brand new for the newsletter.
Drops are closing plays that we feel have lost the advantage.

You will see:
Stock Symbol, Company Name, Closing Price, (change for the week)
Picked at date and Change since picked

Terms:
BoD = Board of Directors meeting
ADV = Average Daily Volume
dma = daily moving average

On the SplitTrader.com website we have very detailed profiles
for the stocks we play.  Please take the time to visit the site
and look up a stock's profile if you are interested in more
information.
================================================================


=========
NEW PLAYS
=========


NEW SPLIT RUN PLAYS 02/22/01
============================

None


NEW SPLIT CANDIDATE PLAYS 02/22/01
==================================

AYE - Allegheny Energy Incorporated $48.22 +0.42 (+2.09)

Allegheny Energy Incorporated (AYE) provides its customers with
electric generation and electric/natural gas delivery. The company
also invests in and develops telecommunications and energy-related
projects. Investing in utility companies generally requires a lot
of patience, as profits are slowly accumulated over time. However,
it seems this rule doesn't apply to AYE shares, which have more
than doubled over the last year. What's more, we also like AYE as
a split candidate. Currently, the company has 110.44 million
shares outstanding and 260 million authorized, enough for a 2:1
stock split. Presently, shares have advanced nearly 20% over the
last few weeks and could be gearing up for a break out rally. So,
looking forward, we'll look for initial resistance to arise at the
all time high of $48.65. Advances through resistance, when
combined with good volume of 670,000 shares or better will present
us with our first potential entry point. Further opportunities
will come when AYE shares advance through the $50 mark. As for
support, we expect the $47 mark to be firm, bolstered by the 5-dma
of $47.05. We'll set our stops at $45.94.

Picked on February 22nd @ $48.22
Change since picked 0.00
Stop Loss @ $45.94





NEW MOMENTUM PLAYS 02/22/01
============================

None


=======
UPDATES
=======


SPLIT RUN PLAY UPDATES 02/22/01
===============================

ACAI - Atlantic Coast Airlines $45.13 -1.56 (-0.06)

The broad market declines we have seen this week have created
enough turbulence to deny a meaningful split run for the shares of
ACAI.  The 2:1 split is payable tomorrow and we are unfortunately
running out of time.  The stock will begin trading at the split
adjusted price on Monday.  We will therefore exit this play no
later than tomorrow's closing print.  The past two days have not
seen any progress for the share price of this fast growing
regional airline.  Nevertheless, it is encouraging that today's
early action saw the stock climb back into last week's
consolidation range.  A short covering bounce back rally in the
NASDAQ (COMPX) tomorrow could result in a final push that may get
us back into the black with this play. Day traders may want to try
a quick play if ACAI can move above the resistance offered by
today's high of $47.00 in the early going tomorrow.  This trade
would be even more promising if the stock sees first hour trading
volume over 75,000 shares.

Picked on February 5th @ $46.38
Change since picked -1.25
Stop Loss @ $42.50



===

WWY - William Wrigley Jr. Company $91.80 +0.18 (+0.19)

Despite the recent weakness in the market, Wrigley shares have
shown resilience and remain poised for higher levels. A strong
uptrend on the chart, not to mention a rising MACD, tell us that
momentum players could re-surface at any time. To get us started,
a break above near-term resistance at $92.50 could be the catalyst
that starts off the rally. A second challenge should come at
Tuesday's intra-day high of $93.40, which is bound to present us a
stiffer challenge.  Entry points may be signaled if WWY re-tests
support at either the 5-day or 10-day moving averages ($91.44 and
$91.14) and then reverses sharply higher on mid-day volume of at
least 125,000. As for resistance, the all-time high of $96.88 will
be the toughest test. We'll retain our stops at $91 and plan our
exit strategies ahead of the February 28th payable date.

Picked on February 4th @ $88.11
Change since picked +3.69
Stop Loss @ $91.00




SPLIT CANDIDATE PLAY UPDATES 02/22/01
=====================================

IGT - International Game Technology $53.85 +0.90 (+2.35)

If you watch too much CNBC, you probably think that every stock is
in permanent decline. IGT is one stock that is bucking that
impression.  This leading manufacturer of computerized casino
games (traditional slot and video poker machines) and operator of
proprietary gaming systems is poised to show strong earnings
growth this year.  IGT's fiscal year ends in September and
analysts expect the company to show profits of $2.40 per share,
which would be an increase of $0.63 over last year's EPS.  Growth
stock investors still have plenty of cash to put to work into
stocks that are showing strong fundamental growth.  Clearly, IGT's
stock price chart reflects that some of this money is being
invested in IGT.  The stock has been in an up trend since
September.  Lately, though, there have been a couple of dips due
to market volatility that have tested the 50-DMA, which currently
resides at $48.13.  A move above $54.00 on first hour trading
volume over 200,000 tomorrow might prove to be an excellent entry
point.  Longer term, the MACD, OBV and Money Flow all point
towards the likelihood for continued stock price appreciation for
this casino industry giant.

Picked on February 20th @ $53.52
Change since picked +0.33
Stop Loss @ $49.50



===

PII - Polaris Industries Inc $47.50 +0.20 (-0.25)

On Thursday, Polaris swam against the current and posted a
fractional gain. The broad markets gave investors a mostly red
hue.  Nevertheless, PII made a slow ascent that lasted throughout
the trading session. Regrettably the minor gain came on low volume
of only 54,000 shares. Normally PII trades on volume of 82,000
based on a three-month cumulative average. PII is one of our newer
split candidates and although the company does not have a split
history, fits the criteria we like for companies that could
announce a split, such as having 23.7 million shares outstanding
and 80 million authorized, enough for a 2:1 or a 3:1 split. While
there are not any scheduled meetings for the company in the near
future, with the number of authorized shares, a split announcement
could be made at any time. As of the close of trading today, PII
sits at support, the 20-dma at $47.25. Below that is some light
support at $45.00, a former level of consolidation. Resistance is
marked at the 10-dma at $47.86 and then at $49.00. Consider new
plays if PII advances through immediate resistance on volume of
60,000 shares traded by midday. We will keep our stop loss below
support at $44.88.

Picked on February 13th @ $48.70
Change since picked -1.20
Stop Loss at $44.88




MOMENTUM PLAY UPDATES 02/22/01
===============================

BDX - Becton, Dickinson and Co. $36.39 -0.81 (-0.37)

BDX manufactures and sells a wide range of medical products that
are used by healthcare professionals, researchers and individuals.
BDX has enjoyed strong demand for its diverse product line and
this has made the stock attractive to investors.  BDX has been a
relatively safe harbor during the recent dismal performance of the
general stock market.  In fact, BDX established a new 52-wek high
of $39.25 just last week.  Obviously, BDX has pulled back from
this high, but the good news is that the stock appears to be
establishing a base.  Today's low of $36.00 is the support at the
bottom of this base.  If this support can continue to hold, look
for BDX to eventually rally and perhaps test the resistance
offered by the 52-week high.  Momentum traders may want to wait
for the stock to move above the $37.31 resistance before
initiating a position.  It is likely that a move above $37.31,
accompanied with midday volume over 750,000 shares traded would
result in a sustainable move.  We continue to be impressed with
the Money Flow and OBV.  These technical indicators are telling us
that there is more volume during up days than down days, which
confirms a longer-term bullish trend.

Picked on February 11th @ $37.03
Change since picked -0.64
Stop Loss @ $34.50



===

BVF - Biovail Corporation $43.55 -1.63 (-0.35)

Controlled-release drug developer Biovail Corporation gave back
all of this week's gains on Thursday. BVF traded through its 5,
10, and 20-dmas, hitting an intra-day low of $43.15. However, the
stock managed to close above the 20-dma at $43.55 on heavy volume
of 1.16 million shares. Hopefully, BVF will make a recovery on
Friday as the stock is at the lower end of its recent trading
range. Going forward, BVF has support at Thursday's intra-day low
of $43.15 with additional support at the February 14th intra-day
low of $42. Resistance has fallen to Thursday's intra-day high of
$44.65 and then $45.68, Tuesday's intra-day high. A bounce off of
$43.15 or a move above $44.65 on midday volume of at least 400,000
shares may be possible entry points. We are keeping our stops at
$41.50 as downside protection.

Picked on February 12th @ $46.15
Change since picked -2.60
Stop Loss @ $41.50



===

LMT - Lockheed Martin Corp. $37.75 +0.90 (+1.50)

Lockheed Martin Corporation, a leading aerospace contractor,
continues to trend higher in the midst of a dicey market. On
Wednesday, shares of LMT traded to a 52-week high of $38.25 before
retreating late in the session. On Thursday, the stock closed at
$37.75, representing its highest close since 8/26/99. Volume has
been trending higher along with the stock price and the slope of
the upward trend appears sustainable. LMT may be at the beginning
of a long-term upward trend with supporting fundamentals
associated with George W. Bush's "messages" to Iraq. On the
technical side, support is now up to Thursday's intra-day low of
$37.10 with stronger support at $36.44, the 10-dma. There is
resistance at Wednesday's intra-day high of $38.25 and then the
8/23/99 intra-day high of $39.44. Traders may consider starting
new plays a bounce off of $37.10 or a breakout above $38.25 on
volume greater than 800,000 shares by noon. Our stop remain at
$35.

Picked on February 4th @ $36.40
Change since picked +1.35
Stop Loss @ $35.00



===

TX - Texaco Corporation $64.20 -0.02 (-0.70)

Negative market conditions are having little effect on oil giant
Texaco. On Wednesday, amidst a sea of red numbers in the broad
market, TX came within $0.21 of a new 52-week high. Early in the
day, the stock made a strong push to hit a record, but then was
caught in the under-tow of selling that entered the market late in
the session. At present, the stock seems to be consolidating at
the $64-$65 level and may be set to move higher. Additional
support exists at the 20-dma at $62.82.  Traders considering TX
for a play should look for a bounce off support at the 10-dma at
$64.09 or a move through resistance at $65.00 on volume exceeding
1 million shares traded by midday. Also, look additional support
from the Dow Jones Industrial Average (INDU) and the Oil Service
Index (OSX.X). We will post our protective stop loss at $61.88.

Picked on February 18th @ $64.90
Change since picked -0.70
Stop Loss at $61.88




=====
DROPS
=====


SPLIT RUN PLAY DROPS 02/22/01
=============================

AEOS - American Eagle Outfitters $54.50 -2.38 (-4.19)

On Wednesday, in the face of a nasty bout of selling on Wall
Street, AEOS hit our stop loss at $57.00. We had hoped to grab a
little more profit before the stock splits 3:2 on Friday, but with
our stop, we still were able to walk away with some green. We will
continue to watch AEOS after the split for other trading
opportunities.

Picked on January 30th @ $55.81
Profit/Loss +1.19 (+2%) (Stopped Wednesday @ $57.00)
Best Profit +4.25 (+7%)



===

AGC - American General Corporation $75.30 +0.20 (-3.59)

Yesterday's bloodletting in the Dow sent AGC shares to our stop
level of $74.50. The sell-off, which was accompanied by heavy
selling (1,263,400 shares), leads us to believe that the stock
might encounter more short-term selling. So, given the magnitude
of this decline and the potential for more weakness, we feel that
our stop was well positioned.

Picked on February 12th @ $78.68
Profit/Loss = -4.19 (-5%) (Stopped Wednesday @ $74.50)
Best Profit = +0.72 (+1%)



===

KREM - Krispy Kreme Doughnuts $72.56 +2.06 (-1.13)

Krispy Kreme Doughnuts sold off on Wednesday after the company
announced that it had acquired Digital Java, Inc., a small
Chicago-based coffee company. Shares of KREM fell to an intra-day
low of $70, hitting our stops late in the session. Therefore, we
are taking our profits and dropping KREM.

Picked on January 25th @ $67.31
Profit/Loss = +3.69 (+5%) (Stopped Wednesday @ $71.00)
Best Profit = +8.44 (+13%)




SPLIT CANDIDATE PLAY DROPS 02/22/01
===================================

BJS - BJ Services Company $78.10 -1.91 (-1.50)

BJ Services, one of the leading oil service companies, could not
hold important support at $79.00.  Apparently, investors are once
again trying to accumulate cash by selling stocks in their
portfolios that have a profit.  Today's decline broke a rising
trendline that BJS has been enjoying since early December.  The
stock will most likely have to go through the process of finding
support and then consolidating.  We will consider trying to add
this play again after the share price stabilizes and establishes a
renewed up trend.

Picked on February 6th @ $83.18
Profit/Loss -5.18 (19%) (Stopped Thursday @ $78.00)
Best Profit +0.72 ( 1%)



===

JEC - Jacobs Engineering Group Inc. $54.00 +0.80 (-0.13)

Jacobs Engineering Group resumed its downward trend on strong
volume during Wednesday's session. The stock traded to an intra-
day low of $53.14, violating support at the 10-dma. We were
stopped out at $53.50, so we are removing JEC from our Current
Plays list.

Picked on February 11th @ $52.20
Profit/Loss = +1.30 (+2%) (Stopped Wednesday @ $53.50)
Best Profit = +4.05 (+8%)



===

LAB - LaBranche & Company Incorporated $46.35 +0.85 (-4.68)

LAB shares have since encountered an onslaught of sellers.
Consequently, more selling created an early pullback in the stock
that pushed LAB to our stop of $44.50. Although a rebound could
take place at any time, we feel that the stock's volatility at the
recent top may be an indication of an impending trend reversal.

Picked on February 15th @ $50.55
Profit/Loss = -5.98 (-12%)
Best Profit = +0.97 (+ 2%)



===

NATI - National Instruments Corporation $49.69 +0.31 (-3.31)

Aided by a Wednesday's swift decline in the NASDAQ Composite
Index, NATI shares sold off to hit our stop at $50.50. Although a
rebound in technology stocks is sure to come eventually, it's
necessary to maintain firm stops as a cautionary step to further
declines.

Picked on February 8th @ $55.06
Profit/Loss = -4.56 (-8%) (Stopped Wednesday @ $50.50)
Best Profit = +2.50 (+5%)




MOMENTUM PLAY DROPS 02/22/01
=============================

BDK - Black & Decker Corporation $41.32 -2.67 (-3.73)

Early Thursday, the market again took to selling and our stop loss
on BDK was triggered at $43.00. We will keep an eye on BDK for
better opportunities in the future.

Picked on February 8th @ $48.70
Profit/Loss -5.70 (-13%) (Stopped Thursday at $43.00)
Best Profit +0.58 (+ 1%)



===

CVS - CVS Corporation $58.37 -1.21 (-3.22)

CVS Corporation gapped down on Wednesday following a strong CPI
number. The stock hit an intra-day low of $59.40 before making a
small comeback to close at $59.58 on volume of 3.35 million
shares. Our stops were triggered at $60, so had to drop CVS on
Wednesday.

Picked on February 18th @ $61.59
Profit/Loss = -1.59 (-3%) (Stopped Wednesday @ $60.00)
Best Profit = +2.16 (+4%)



===

UTEK - Ultratech Stepper $38.88 +0.97 (+0.88)

Ultratech's winning streak ended during today's early going.  UTEK
succumbed to the overwhelming sell pressure that is plaguing the
technology stocks.   We will be sorry to see this play go because
UTEK has been a brilliant diamond in the rough.  UTEK's RSI is
still signaling an extremely overbought condition.  If this
indicator pulls back and the stock can consolidate its recent
gains, do not be surprised if the stock of this semiconductor
equipment company makes it back onto our Current Play list.

Picked on February 1st @ $32.88
Profit/Loss +4.12 (13%) (Stopped Thursday @ $37.00)
Best Profit +6.50 (20%)




========================
Friday's Play-of-the-Day
========================

Thursday, February 22, 2001
=============================

IGT - International Game Technology $53.85 +0.90 (+2.35)

Thursday's Comment:

If you watch too much CNBC, you probably think that every stock
is in permanent decline. That's just not so.  For example, IGT is
one stock that is bucking the market's malaise.  This leading
manufacturer of computerized casino games (traditional slot and
video poker machines) and operator of proprietary gaming systems
is poised to show strong earnings growth this year.  IGT's fiscal
year ends in September and analysts expect the company to show
profits of $2.40 per share, which would be an increase of $0.63
over last year's EPS.  Growth stock investors still have plenty
of cash to put to work.  Clearly, IGT's stock chart reflects that
some of this money is being invested in IGT.  The stock has been
in an up trend since September.  Lately, though, there have been
a couple of dips due to market volatility that have tested the
50-DMA, which currently resides at $48.13.  Nevertheless, we
remain bullish.  In fact, a move above $54.00 on first hour
trading volume over 200,000 tomorrow might prove to be an
excellent entry point.  And for longer-term traders, the MACD,
OBV and Money Flow all point towards the likelihood for continued
stock price appreciation, so don't be surprised if IGT continues
its impression ascent.

Picked on February 20th @ $53.52
Change since picked +0.33
Stop Loss @ $49.50




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