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PLAY > New Plays Thursday, March 22, 2001
New Split Plays   New Candidate Plays   New Momentum Plays
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Plays

TMIC - Trend Micro Inc. $8.38 +0.81 (+1.63)

The technology stock recovery that we saw today was not solely reserved for the big names. Trend Micro, which is in the anti-virus solutions business, has seen a nice percentage gain this week. It is interesting to note that, despite its single digit share price, TMIC may be on the verge of a split run. The company announced a 2:1 split back in February that will be made payable on May 18th. A more immediate help to the stock has probably been a couple of good news items concerning TMIC this week. On Wednesday, this Japanese company announced the opening of a new call center in Fort Worth, TX that should help TMIC to expand its American business. Technically speaking, we anticipate possible entry points if TMIC can cross above its 50-DMA of $8.75 tomorrow. We would also like to see this move accompanied by volume of over 20,000 shares by midday. Another positive development is the fact that the MACD turned positive today. TMIC is a somewhat speculative play and is probably not for all of our subscribers. That said, we are impressed with the stock's ability to post a positive week in the face of so much broad market selling.


Picked on March 22nd @ $8.38
Change since picked +0.00
Stop Loss @ $7.00
 
Interactive Chart Quote News First Call on TMIC
 

New Candidate Plays

None

New Momentum Plays

SFD - Smithfield Foods, Inc. $32.25 -0.35 (+1.45)

Smithfield Foods is a vertically integrated pork and processed meat producer. The company offers hog production and fresh pork products such as hams, hot dogs, loins and ribs. Shares of SFD have been moving higher over the past year after hitting a low of $14.88 on 2/24/00. The stock traded to a 52-week high of $33.30 on January 2nd after Smithfield lost a bidding war with Tyson Foods (TSN) over the acquisition of IBP Inc. (IBP). Since then, SFD has traded in the $27-$33 range. The stock is currently on a run from a relative low of $27.85 on March 1st. With that said, we believe that SFD could be ready to break through its trading range as the US pork industry benefits from the European livestock disease crisis that has wiped out most of the European pork products. From a technical standpoint, support is the 5-dma at $32.02 with additional support at Thursday's intra-day low of $31.20. Resistance is Wednesday's intra-day high of $32.80 and then the January 1st intra-day high of $33.30. Look for entry points on a bounce off of $32.02 or a move above $32.80 on volume greater than 130,000 shares by noon. We plan to set stops at $29.75 to limit potential losses.


Picked on March 6th @ $32.25
Change since picked +0.00
Stop Loss @ $29.25
 
Interactive Chart Quote News First Call on SFD
 

New Plays Index

 


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