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Email Version, Section 2, Thursday 05/17/2001
The SplitTrader.com Newsletter           Thursday 05/17/01 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/051701_1.asp
==================================================================

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

Market Commentary | Don't Look Now
Definition of the Day
Thursday's Split Announcements - TRH
Friday's Expirations
Stock Plays - New - Updates - Drops
Friday's Play-of-the-Day - APPB

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


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

Don't Look Now

After breaking through key levels on the Dow and S&P 500 just
yesterday, we followed up it with a good ol' fashion follow
through session today.  The small percentage moves on the broader
indices didn't quite invoke shouts of "hallelujah" or "praise the
bull" from traders, but the fact that we closed in the black was
huge psychologically.

Many traders were anticipating a pullback today, which seemed
only natural given yesterday's big gains.   However, it was not
meant to be, as buyers (retail and institutional alike, judging
by the volume) stepped up to the plate to scoop up stocks that had
been displaying strength going into the Fed cut.  The mood on the
day was very upbeat, as most investors are now focusing on how to
position themselves for the next run higher.

Adding to the optimistic tone today was the fact that the
employment picture seems to be brightening.  Initial jobless
claims slipped 8,000 to 380,000 last week, which is fodder for
those arguing against a recession.

To be sure, many sectors contributed to today's gains, but it was
none other than the early cycle sectors that that led the pack
higher.  These early cycle sectors are the ones that you like to
see lead the market out of the grasps of the bear.  That being
said, it was the cyclicals, retailers, capital goods and basic
materials took the baton and sprinted out of the blocks today.

Today's Markets

The major indices couldn't get much going to the upside today,
but more importantly there were plenty of buyers that kept the
averages positive throughout today's session.

The NASDAQ (COMPX) added 27.25, or 1.26%, to close just under the
2200 level at 2193.69.  For a while, the NASDAQ hovered above the
psychological 2200 level, but found more comfortable footing just
below at 2190.  Volume, as previously mentioned, was healthy at
2.1 billion shares.  Breadth also confirmed the follow through
day, with 2392 stocks advancing to 1432 declining.

The Dow (INDU) also advanced on good volume.  The old-economy
index added 32.66 to 11248.58 on NYSE volume of 1.5 billion
shares.  It had some help from Dow component Hewlett-Packard
(NYSE:HWP), which vaulted higher by $4.16 to $30.90.  The
computer maker reported earnings last night of $0.18/share, which
beat estimates by $0.03/share.  CEO Carly Fiorina also reiterated
that HWP was on track to meet its third-quarter earnings bogey of
$0.15/share.

Over in the treasury pits, action was largely contained to the
30-year bond.  The Treasury bought back $1.75 billion of older
30-year bonds, pushing the price up 25/32 to yield 5.80%.  The
shorter dated maturities sold off on doubts that the Fed will
continue cutting aggressively.  In addition, Merrill Lynch's
global strategy team moved to an "underweight" position in the
U.S. treasury market for the first time since June of 1999.  The
impetus behind the switch was Merrill's belief that the equity
markets are set for a turnaround.

Stocks and Sectors on the Move

While today's strong showing was powered by many diverse sectors,
it was the biotechs, as measured by the AMEX Biotech Index
(BTK.X), that really packed a punch.  This may be due to the fact
that investors are more enthusiastic on the group in general
because many biotech companies are getting close to product
approvals.  In addition, as investor psychology improves, traders
are more willing to take on added risks, which certainly bodes
well for these volatile biotech issues.

Chart of the Biotech Index:



Some standouts within the biotech sector include: Amgen, Gilead
Sciences and Cima Labs.  Amgen (NASDAQ:AMGN) added $1.81 to
$66.81 and now sits above its 200-dma at $65.47 for the first
time since 3/08/01.  Gilead Sciences (NASDAQ:GILD) rocketed $5.18
to $57.94 and now sits just $0.14 away from its all-time closing
high.  Lastly, Cima Labs (NASDAQ:CIMA) just broke out to a new
high after rising $3.17 to $75.76 today.

Chart of Cima Labs Inc.:



Turning to specific stock news, Dell (NASDAQ:DELL) reported
first-quarter earnings of $0.18/share after the bell, matching
analysts' expectations.  Revenues for the Round Rock, Texas
computer maker came in at $8 billion, up 10% from the year ago
period.  However, Michael Dell lowered earnings estimates for the
second-quarter due to continued softness in the U.S. corporate
market.  Dell was off $0.88 from its close of $25.88 in after
hours trading.

The tragedy du jour in after hours trade, however, was Palm
(NASDAQ:PALM).  Shares of the handheld computer maker plummeted
25%, or $1.80 from Palm's closing price of $7.05 after the
company warned for the second time that it would fall well short
of fourth quarter expectations.  As it turns out, "well short" is
an understatement.  Palm now expects revenues of between $140 and
$160 million, or roughly half of expectations of $300 million.

Not wanting to end on a sour note, I thought I'd toss in Ciena's
(NASDAQ:CIEN) good earnings report that was delivered to
investors last night.  The fiber optic equipment maker earned
$0.20/share in its second-quarter, which bested estimates by
$0.04.  Sales also picked up by 20% over the most recent quarter.
And if that wasn't enough, Ciena told investors that for the full
year, revenue growth of 95%-105% is "possible."  Given all this
good news, shares of CIEN finished down $2.15 to $56.75 after
being up as high as $62.35 earlier in the day.

Looking Forward, Always Forward

No real big economic reports due out tomorrow (just the trade
balance which we all know is figured with a bias towards a
deficit anyway).  Though I'm not sure if the lack of economic
news is a good thing or a bad thing, since most of the news in
the after hours session was decidedly negative.  We could
probably use a big juicy economic report to distract investors
from the Dell and Palm news.

If we do get a pullback on the less than rosy news, we will
certainly keep our eyes on previous resistance levels on the
indices (11,000 on the Dow and 1265 on the S&P) to make sure that
they now act as support on any pullbacks.  As far as individual
stocks go, make sure that the ones that have already broken out
don't fall back into their bases.

We got one follow through day today and as long as we get another
good one within the next four or five sessions, the best risk-
reward still remains to the upside.

One last note: You may have noticed that the Splittrader Current
Play list has become rather lengthy.  Due to the fact that most
all our picks are steadily forging ahead, we haven't been stopped
out of many plays recently.  While this is a great problem to
have, we are tightening up many of our stops this weekend to lock
in gains should the market decide to turn around.  You may or may
not want to follow suit, depending upon your risk tolerance.

Craig Seidler
Assistant Editor
www.SplitTrader.com





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

National Association of Securities Automated Quotations System

The electronic stock exchange, which is owned and operated by the
NASD for over the counter trading.

For the complete definition, please go to:
http://www.splittrader.com/glossary/viewglossary.asp?glossaryid=246


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

Thursday, May 17, 2001, After the Market

Transatlantic Holdings declares stock split, increases cash
dividend

After Thursday's closing bell, the Board of Directors of
Transatlantic Holdings, Inc. (NYSE:TRH) announced approval of a 3-
for-2 common stock split, payable in the form of a 50 percent
stock dividend.  The payable date is set for July 20 for
shareholders of record on June 29, 2001.  As the company's second
stock split, the outstanding shares will effectively be increasing
to approximately 52 million shares. Currently there is a float of
7.3 million shares and 100 million shares are authorized for
issuance.

For the complete announcement, please go to:
http://www.splittrader.com/announcements/051701_1.asp


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

IVAX Corp. (IVX) splits 5:4





=====================
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 05/17/01
============================

PKI - PerkinElmer $70.12 +3.61 (+5.88)

PKI is a global company that provides products and systems to the
telecom, pharmaceutical, chemical, semiconductor, medical,
aerospace and photographic industries.  Although PKI trades on the
NYSE, the stock exhibits a trading pattern similar to many of the
leading technology stocks over on the NASDAQ.  PKI fell from its
all-time high of $121.00 to a double-bottom low of $42.55 in early
April.  Although there is plenty of overhead resistance, PKI is
developing some positive technicals.  The 50-DMA, closing today at
$58.41, appears to be starting to turn back up.  PKI broke out of
a nice base today by taking out the $68.00 resistance.  The Money
Flow is also improving nicely and also appears to be breaking out.
We also like the fact that the RSI still has upside potential
before the stock would be considered overbought.  There are a
couple of scenarios that may prove to be good entry points.  A
pullback tomorrow that bounces near $68.00 might be one entry
opportunity.  Momentum traders might be interested in going long
if PKI can trade above $70.50 tomorrow accompanied by first hour
trading volume exceeding 150,000 shares.  A little patience might
be necessary if PKI gaps up to resistance at $72.94 on the open.
If this happens, the stock might pull back a little during the day
and offer traders a more advantageous entry price than the opening
print.  PKI will be splitting its shares 2:1 on June 1st.

Picked on May 17th @ $70.12
Change since picked +0.00
Stop Loss @ $67.00

 


NEW SPLIT CANDIDATE PLAYS 05/17/01
==================================

None


NEW MOMENTUM PLAYS 05/17/01
============================

DCI - Donaldson Company $30.04 +1.03 (+1.63)

DCI is a manufacturer of air cleaners, filters and exhaust
products for heavy-duty mobile equipment.  Of these businesses,
the potential demand for the company's air intake systems for gas
turbines may be what is really driving the stock these days due to
the energy crisis and the need to build more power plants.  This
will be a very quick play for us because DCI is scheduled to
announce its earnings next Tuesday after the close.  Obviously, we
are looking for the continuation of a nice earnings anticipation
run.  Technically, DCI looks very strong.  The MACD is rising and
the OBV and Money Flow are both making new highs.  The RSI is
indicating an overbought condition but the stock could easily
become more "overbought", as momentum traders drive the stock
higher ahead of the earnings release.  The stock closed today
right on its high.  Therefore, any uptick on tomorrow's open may
be an enticing entry point for traders.  That said, a gap up of
more than a point on the open may result in a bit of a pullback in
the first half hour of trading.  Therefore, a little patience
following a sizable gap up may afford traders a better entry
price.  We see some pretty good support at the 10-DMA of $28.81
and we have set our initial stop just below this moving average.

Picked on May 17th @ $30.04
Change since picked +0.00
Stop Loss @ $28.50

 


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


SPLIT RUN PLAY UPDATES 05/17/01
===============================

APPB - Applebee's International $44.05 +0.32 (+1.16)

Applebee's continues to hug its 10-dma.  Better yet, it's starting
to advance off it.  After moving in tandem with its 10-dma over
the past two weeks, APPB broke out yesterday to put some distance
between itself and this important level of support.  In fact, with
today's close, APPB has put $0.82 worth of space between it and
its 10-dma at $43.22.  APPB has been in a strong up trend since
March 1st.  Moreover, we think APPB could build on this trend into
its split payable date scheduled for June 12th.  To that end, ABBP
posted a new all-time closing high today of $44.05.  At this
point, APPB has no immediate overhead resistance (though the
psychologically-significant $45.00 level could present a minor
obstacle).  As for support, APPB has the aforementioned 10-dma
followed by the 20-dma at $42.46.  Traders considering a position
in APPB should look for a move through today's intra-day high of
$44.35 or a bounce off the 10-dma on volume of 150,000 shares
traded by mid-day.  One caveat for conservative traders, though,
APPB's stochastic is showing it to be overbought, so this trade
could carry a little more risk than usual.

Picked on May 15th @ $43.20
Change since picked +0.85
Stop Loss @ $40.50

 

===

SDS - SunGard Data Systems $61.00 -1.00 (+4.53)

We added this former Watch List stock on Wednesday, and as luck
would have it, it lost ground today.  Even more discouraging,
though, was that SDS lost ground on 2.05 million shares traded,
which was more than double the three-month average daily volume of
917,000.  Nevertheless, we think SDS could make a strong run into
its split-payable date on June 18th.  To that end, its MACD
remains in a strong up trend while its Stochastic isn't showing
its stock to be overbought.  At this point, though, SDS may be
ripe for some profit taking, particularly after yesterday's $3.05
advance, so don't be surprised if this stock consolidates around
$60 for the next session or two.  With that said, traders
considering a position in SDS should look for a move through
Thursday's intra-day high of $64.50 or a bounce off $60 on 400,000
shares traded by midday.

Picked on May 16th @ $62.00
Change since picked -1.00
Stop Loss @ $58.40

 


SPLIT CANDIDATE PLAY UPDATES 05/17/01
=====================================

ASD | American Standard Companies $65.48 +2.22 (+2.21)

American Standard has made a nice recovery over the past two
sessions. On Thursday, shares of ASD traded to an all-time high of
$66.50 before pulling back to close at $65.48 on volume of 563,000
shares. ASD was able to rebound after testing the 20-dma, so the
stock may be able to resume its upward trend. Going forward, ASD
has support at the May 11th intra-day high of $63.85 with
additional support at $63.30, the 5-dma. Resistance has moved up
to Thursday's intra-day high of $66.50 and then possibly $67 or
$68. Look for a bounce off of $63.85 or a breakout above $66.50 on
midday volume greater than 250,000 shares before starting new
plays. We are moving our stops up to $63.50 to lock in a gain.

Picked on May 6th @ $62.50
Change since picked +2.98
Stop Loss @ $63.50

 

===

AYE | Allegheny Energy, Inc. $53.40 |0.52 (+0.35)

Allegheny Energy traded to an all-time high of $54.10 on Tuesday.
However, the stock fell into negative territory as the market
pulled back from its intra-day highs. Shares of AYE finished the
session at $53.40 on volume of 311,000 shares. Despite Thursday's
negative action, ASD remains in a 2-month upward trend and the
stock may continue to hit new highs. However, the company held its
annual meeting on Thursday and the stock may sell off if we do not
get a split announcement in the near future. In the meantime,
support has moved up to Thursday's intra-day low of $53.24 with
stronger support at $53.05, the May 11th intra-day high.
Resistance is Thursday's intra-day high of $54.10 and then $55.
Traders may consider entry points on a bounce off of $53.24 or a
breakout above $54.10 on volume of at least 250,000 shares by
noon. We are bumping our stops up to $53 to protect additional
gains.

Picked on April 29th @ $50.60
Change since picked +2.80
Stop Loss @ $53.00

 

===

BMET | Biomet Inc. $44.19 +0.15 (+3.59)

Biomet, Inc. has posted gains in each of the last five sessions.
On Thursday, shares of BMET traded to an all-time high of $44.72
before pulling back to a close of $44.19 on volume of 1.94 million
shares. BMET is breaking out after two weeks of consolidation and
volume is picking up, so BMET could be ready for a strong rally.
From a technical standpoint, support is now at Thursday's intra-
day low of $43.55 with additional support at Tuesday's intra-day
high of $43.30. Resistance has moved up to Thursday's intra-day
high of $44.72 and then $46. Consider starting new plays on a
bounce off of $43.55 or a breakout above $44.72 on volume greater
than 900,000 shares by noon. We have pushed our stops up to $43 to
lock in a gain.

Picked on May 3rd @ $42.16
Change since picked +2.03
Stop Loss @ $43.00

 

===

HRB - H & R Block Inc. $58.21 +0.24 (+2.16)

H & R Block set another 52-week high today, hitting $58.50 before
closing at $58.21.  In Tuesday's write up, we expressed concerned
that this omnipresent tax preparer was running out of steam.
Fortunately, that wasn't that case.  In fact, HRB added $0.24 to
its share value today after adding $1.89 on Wednesday.  Obviously,
HRB can't keep hitting new 52-week highs in perpetuity.  What's
more, it's not every week that the market gets an interest rate
cut gift from the Federal Reserve.  So, at this point, we'd be
conservative about entering new positions and liberal about
tightening stops (we've tightened our stop to $57.00).
Technically, though, HRB still looks strong; its MACD is once
again forming an up trend and its On-Balance Volume is trending
higher.  At this point, HRB has support at its 10-dma at $55.73
followed by the 40-dma at $52.58.  As for resistance, we are
looking at the July 1999 highs of $59.00.  Traders considering a
position in HRB should look for strong volume, 250,000 shares or
more traded by noon EDT, on a move through resistance at $59.00 or
a bounce off the 10-dma before placing their trades.

Picked on April 18th @ $52.85
Change since picked +5.36
Stop Loss @ $57.00

 

===

ITG - Investment Technology Group $54.60 +0.08 (+3.69)

Like the broader market, ITG eked out a small gain today, adding
$0.08 to its share price.  What's more, it made this gain on
281,100 shares traded, 53,000 more than the three-month average
daily volume of 228,000.  ITG is another one of our Current Play
stocks that looks like it might take a breather after this week's
strong run.  In fact, ITG is now bumping up against resistance at
$55.00, so it's possible that it might want to consolidate at this
level before attempting another leg up.  At this point, ITG has
support provided by its 10-dma at $51.95 followed by additional
support at its last consolidation base at $50.  Traders
considering a position in ITG should look for a move through
resistance at $55.00 or a bounce off today's intra-day low of
$54.09 on volume of 100,000 shares traded by noon EDT.

Picked on May 16th @ $54.52
Change since picked +0.08
Stop Loss @ $51.40

 

===

OMG | OM Group, Inc. $62.80 +0.40 (+4.84)

OM Group continues to hit new highs. On Thursday, shares of OMG
traded to an all-time high of $63.98 before running into some
resistance. The stock ended the day at $62.80 on heavy volume of
202,000 shares. OMG has made five consecutive higher highs on top
of higher lows and volume has been improving. However, the stock
may be due for a round of profit taking after nine days of gains.
Until then, OMG has support at Thursday's intra-day low of $62.60
with stronger support at the $62 mark. Resistance has come in at
Thursday's intra-day high of $63.98 and then $65. A bounce off of
$62.60 or a breakout above $63.98 on midday volume greater than
60,000 shares may be possible entry points. We have bumped our
stops up to $62 to protect recent gains.

Picked on May 13th @ $57.96
Change since picked +4.84
Stop Loss @ $62.00

 

===

STU | The Student Loan Corporation $68.24 |1.62 (+0.59)

Someone wanted to get out of Student Loan Corp, on Thursday
afternoon. The stock was trading above the $70 mark for most of
the session, hitting an intra-day high of $70.40 in the morning.
Then, the STU started to slide just after 2 PM EDT when it slipped
below $70. Shares of STU closed the day at $68.24 on volume of
22,500 shares with almost half of the volume coming in the last 90
minutes. The company held its Annual Meeting on Wednesday, but we
did not get a split announcement. For now, support is the 10-dma
at $68.15 with additional support at $68.00, Thursday's intra-day
low. Resistance is now up to Thursday's intra-day high of $70.40
and then $71 or $72. Look for entry points on a bounce off of
$68.15 or a move above $70.40 on volume of at least 15,000 shares
by noon. Our stops are now up to $68 to limit potential losses.

Picked on May 10th @ $68.20
Change since picked +0.04
Stop Loss @ $68.00

 

===

TTC - Toro Company $46.20 -1.60 (+0.21)

Curiously, TTC has seen a marked increase in volatility over the
past two days that resulted in very little progress.  Yesterday,
TTC shot to a new high of $48.00 after moving above the resistance
provided by the old 52-week high of $47.63.  However, momentum
traders appeared to be unimpressed and failed to extend the
breakout today.  Consequently, profit takers jumped in and knocked
the stock back down into its consolidation range and did this with
solid volume of 133,300 shares, which was more than 40,000 shares
than the average daily volume.  We have decided to raise our
trailing stop to $44.88, just in case the selling continues and
the stock violates the major support offered by the 50-DMA of
$44.97.  New positions placed near current levels might work out
as long as TTC holds the first support level of $45.88.  Momentum
traders might want to wait for TTC to establish a new high above
$48.00, accompanied by first hour trading volume exceeding 30,000
shares, before going long.  The RSI did not signal an overbought
condition, despite yesterday's solid rally.  Therefore, this
indicator suggests that TTC does have room to rally again.

Picked April 29th @ $46.25
Change since picked -0.05
Stop Loss @ $44.88

 


MOMENTUM PLAY UPDATES 05/17/01
===============================

GTK - GTECH Holdings Corp $36.40 +0.50 (+1.04)

GTK fell just short of establishing a new high above $36.90 today
after enjoying only a modest advance during yesterday's monster
rally on the NYSE.  GTK has been finding really good support along
its rising 10-DMA.  Since this moving average closed today at
$35.31, we have decided to raise our trailing stop to $35.00.  A
couple of technical factors continue to offer bulls encouraging
signs that GTK may have some more room to rally.  The MACD is
still positive and moving higher after threatening to issue a sell
signal.  The OBV is very strong, indicating that there is more
buying on up days than there is selling on down days.  That said,
the RSI is still a concern because it is indicating an extremely
overbought condition.  Nevertheless, the beauty of using trailing
stops is that we can enjoy the ride as far as it will take us
until the inevitable pullback.  Traders might profit from a
breakout if GTK can trade through $37.00 tomorrow and accomplish
this feat with first hour trading volume exceeding 100,000 shares.

Picked on April 22nd @ $29.79
Change since picked +6.61
Stop Loss $35.00

 

===

LEA - Lear Corp. $37.30 +0.74 (+1.65)

In Tuesday's write up, we said that LEA was consolidating near its
base at $35.00.  We also said that we doubted that LEA would see
much price action  Thanks to the Fed, we were wrong on both
accounts as buyers came into the market to take LEA over $37.00.
What's more, there appears to be some enthusiasm behind LEA's
advance, as it was accompanied by average volume of 500,000
shares, which is 100,000 greater than the three-month average
daily volume of 400,000.  More impressively, LEA's mini-rally has
put it above its 10-dma at $36.54, which had been resistance.  The
next level of resistance will be the May 4th high of $38.50, which
LEA challenged today.  As for support, LEA has its 20-dma at
$36.22 followed by the aforementioned consolidation base of 35.00.
Traders considering a position in LEA should look for strong
volume, 250,000 shares or more traded by noon EDT, on a move
through today's intra-day high of $38.25 or a bounce off the 20-
dma before placing their trades.  To prevent excess losses, we've
moved our stop loss to $35.00

Picked on April 24th @ $36.20
Change since picked +1.10
Stop Loss @ $35.00

 


=====
DROPS
=====


SPLIT RUN PLAY DROPS 05/17/01
=============================

XTO - Cross Timbers Oil Co. $30.75 +1.75 (+2.75)

We were quite disappointed to see XTO slip just enough in the
early going yesterday to trigger our $28.50 stop. Perhaps some of
you missed this exit price because the stock did not trade there
for very long and then subsequently roared to a new high.  For
those of you still following XTO, please remember that the stock
will be paying its 3:2 stock split on June 5th.  Additionally, XTO
will be officially changing its name to XTO Energy, Inc. on June
1st but will continue to trade on the NYSE with the symbol XTO.

Picked May 6th @ $24.83
Profit/Loss +3.67 (15%) (Stopped Wednesday @ $28.50)
Best Profit +5.27 (1%)

 


SPLIT CANDIDATE PLAY DROPS 05/17/01
===================================

None


MOMENTUM PLAY DROPS 05/17/01
=============================

None


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

Thursday, May 17, 2001
=============================

APPB - Applebee's International $44.05 +0.32 (+1.16)

Thursday's Comment:

Applebee's continues to hug its 10-dma.  Better yet, it's starting
to advance off it.  After moving in tandem with its 10-dma over
the past two weeks, APPB broke out yesterday to put some distance
between itself and this important level of support.  In fact, with
today's close, APPB has put $0.82 worth of space between it and
its 10-dma at $43.22.  APPB has been in a strong up trend since
March 1st.  Moreover, we think APPB could build on this trend into
its split-payable date scheduled for June 12th.  To that end, ABBP
posted a new all-time closing high today of $44.05.  At this
point, APPB has no immediate overhead resistance (though the
psychologically-significant $45.00 level could present a minor
obstacle).  As for support, APPB has the aforementioned 10-dma
followed by the 20-dma at $42.46.  Traders considering a position
in APPB should look for a move through today's intra-day high of
$44.35 or a bounce off the 10-dma on volume of 150,000 shares
traded by mid-day.  One caveat for conservative traders, though,
APPB's stochastic is showing it to be overbought, so this trade
could carry a little more risk than usual.

Picked on May 15th @ $43.20
Change since picked +0.85
Stop Loss @ $40.50

 





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