GE - General Electric $166.00 +3.94 (+7.50)

General Electric is one of the largest industrial corporations in the world. The Company makes a wide variety of products, including major appliances, lighting products, industrial automation products, medical diagnostic imaging equipment, motors, electrical distribution and control equipment, locomotives, power generation and delivery products, nuclear power support services and fuel assemblies, commercial and military aircraft jet engines, and engineered materials. They also provide a host of services such as electrical apparatus installation, engineering, repair and rebuilding services, financial services, television broadcasting, and computer- related information services. The stock is considered to be a proxy for both the US and worldwide equity markets. Shares of GE climbed to an all-time high on Tuesday after previously failing twice to break the $160 resistance level during late March and early April. Strength came on news of a new GE sponsored online banking system and an agreement with Kubota Corporation to distribute GE's line of fuel cells. The Company announced a 3:1 stock split on 12/17 and the payable date will be determined at their Annual Shareholder Meeting on Wednesday, when the shareholders will vote on an increase in authorized shares to accommodate the split. The stock established a breakout Tuesday so we may see next resistance at $170 or $175. Support is the 5- dma at $160 with stronger support at the 10-dma, now at $156. Use a bounce off of $160 or a breakout above $170 to initiate new positions. Start new plays on heavy volume, only in a rising market. We will set an exit as soon as the Company sets a payable date.

Picked on April 25th @ $166.00 Change since picked +0.00

PAYX - Paychex, Inc. $55.31 +3.25 (+4.56)

An explosion in small and medium sized businesses has helped Paychex cash in on profits. Why bother with a payroll and retirement services department if you can outsource it to Paychex, a Company with considerable economies of scale and efficiency. It is a win-win situation for both the service provider and the client. Over the weekend, Barron's included PAYX in a list of the top 25 performing stocks for investors. This is exactly the kind of company investors are looking for during these difficult investment times. PAYX kept an impressive record going by announcing a 3:2 for the sixth consecutive April. The payable date is set for May 22nd. PAYX reported another very good quarter back in the middle of March. The $0.20 per share was a penny ahead of expectations. We are looking for companies that have been able to maintain their uptrends during this correction. After years of steady returns, few investors seem willing to part with their PAYX holdings and this has been reflected in the Company's chart. PAYX has been trading in a tight range between $47 and $55 for the past month. The stock appears to be ready to break out to the upside, especially given today's solid close right at the high of $55.50. Any move higher can be bought by a momentum investor. Previous "new high" breakouts have seen price accumulations of approximately 10%. One indicator of a potential continuation of this bullish move is the fact that the MACD crossed over into positive ground today. Very short-term traders might be satisfied by taking profits in the low $60's if momentum slows. Support is sitting back between $50-$51, bolstered by the 5, 10, 20 and 50-dma's all stacked in that area. We will be exiting this position before the May 22nd payable date.

Picked on April 25th @ $55.31 Change since picked 0.00

TFS - Three-Five Systems $81.88 +4.38 (+1.25)

You would be hard-pressed to find a technology stock that has held up better than TFS during this period of extreme volatility. This LCD manufacturer has inured itself against the steep sell- offs and has been able to maintain a solid uptrend. There are a couple of possibilities for this relative strength. TFS has very strong fundamentals. The Company's LCD products are found in a wide range of products, especially in mobile devices. The popularity of their products has enabled TFS to post solid earnings and revenue growth. The last quarterly report showed a huge profit of 27 cents which was $0.12 ahead of estimates. TFS has also been insulated from the selling because it is a high technology growth stock that can hide over on the NYSE, away from the ravaging bands of market makers and day traders. Helping matters is that TFS actually has strong earnings growth and a moderately reasonable P/E ratio to boot! However, it does seem that the Delta (relative price movement of the stock vs. the overall market) has been increasing in recent weeks. TFS intends to split 3:2 on May 12th. The Annual Meeting is Thursday. At the meeting a vote will be taken to increase the number of authorized shares enabling the Company to enact the split. Usually we would wait a little longer after a split announcement before adding a split play but since the payable date falls so soon after the announcement we feel that the split run could occur immediately. TFS looks very solid technically. The stock is in a nice uptrend and a continued rally could take it into new high ground, above $87 very quickly. The MACD (a technical momentum indicator) is strongly positive, as it has been throughout the correction. If the stock gaps up tomorrow, you may be able to pick up shares on a small pullback. Support is at $80 and you want to make sure it stays above that price before entering a position. The next support would be the lower trend line, which is approximately at $77. We will be exiting this position in the session preceding May 12th payable date.

Picked on April 25th @ $81.88 Change since picked. 0.00

TXN - Texas Instruments, Inc. $152.00 +10.75 (+7.00)

Everything is bigger in Texas, so the saying goes. If that is true then this should be one heck of a split run for the Dallas based Semiconductor Company. Texas Instruments is a worldwide supplier of semiconductor products, which include digital signal processors and analog integrated circuits. We dropped this play earlier in the month just before a nasty slide from $160 all the way down to the 100-dma at $128.25. On 4/20 the company announced a 2 for 1 stock split with a payable date of 5/22. The long Easter weekend gave investors time to chew on the upside potential of TXN. In the face of Monday's big selling kicked off with bad karma coming from Microsoft, TXN stood little chance to make its move. Today we saw interest begin as investors dieted on TXN and other chip stocks right from the open. On 4/18 A G Edwards analyst gave TXN an upgrade to a buy rating. More good news flowed from the company Monday as they rolled out the industry's first complete portfolio of multi-mode ADSL CPE chipsets; Programmable DSP-based Chipsets which enable the industry's smallest ADSL modems. This new technology will enable PC, modem and Internet appliance manufacturers to offer users broadband connectivity via the device of their choice whether they prefer DSL-ready desktop PC's, stand alone modems, set-top- boxes or more. Technically the chart looks ready to challenge the trend line just overhead at $152. Volume will be needed to boost the stock through this level, so look for heavy intraday trading on a move higher as confirmation of the rally. The next resistance will be encountered as the stock challenges the 50-dma near $160. Enter new plays after confirming the momentum from the chip index (SOX) and the sector. Place stops at 138.

Picked on April 25th at $152.00 Change since picked 0.00

NEW SPLIT CANDIDATE PLAYS

ALTR - Altera $98.88 +9.06 (+7.69)

Altera Corporation is a leading provider of programmable logic devices (PLDs) and associated development tools. Altera was the first supplier of Complementary Metal Oxide Semiconductor (CMOS) programmable logic devices used in high-speed, high-density and low-power applications including telecommunications, data communications, electronic data processing and industrial applications. The stock hit an all-time high of $99.25 on March 6th and proceeded to fall back to $71.25 by April 14th. The Company announced earnings on April 12th and on the same day, it was announced that ALTR would be added to the S&P 500 index. The recent strength in the Composite now joins the relative strength of ALTR for a potentially great split candidate play. They currently have 400 million shares authorized and 199.5 million shares issued but on May 10th, the shareholders will vote on increasing the number of authorized shares from 400 million to 700 million at the company's Annual Meeting of Shareholders. We are anticipating a split announcement following the meeting. As for the stock, support is at the 5-dma at $94 with stronger support at the 10-dma, currently at $88. There is psychological resistance at the century mark and with additional resistance at $5 increments. Initiate new plays on a bounce off of $94 or a breakout above $100 on heavy volume. Confirm market sentiment and sector direction before opening new positions.

Picked on Apr 25th @ $98.88 Change since picked +0.00

CIEN - CIENA CORPORATION $105.87 +15.37 (+8.87)

Ciena Corporation is in the business of optical networking equipment. The company offers products for data and Tele- communications service providers throughout the world. What was once resistance is now support, on the chart pattern of CIEN. Back in December and January, the resistance level for CIEN was 79.00. Then back on April 4th and 17th, this level was challenged not as resistance but as support. Following the bounce on the 17th, the stock has been consolidating into a trading range between 89 and 104. Today's close above that level is a positive sign and an indication of a possible reversal in the making. We need a close outside of the upper channel line to confirm though, so you may want to wait. The critical level is approximately $105 for Wednesday. Today, the fiber optics group traded strongly higher on blowout earnings from Corning Inc. Earnings from CIEN are scheduled for May 18th and we expect further upside from this point. The company currently has 140 million shares outstanding and 360 million authorized enough for a 2 for 1 split. CIEN has support at the 100-dma at 97.00 and below that it can be found at a long established trend line at about 90. Resistance is upstairs at $110 (near the 20-dma) then at the 50- dma near $130. Confirm new positions with positive volume as well as reinforced movement in the overall market. The stock may enjoy further upside as investors listen to the comments made by top executives who are speaking this week at a conference in San Francisco. Place stops just below 90 to avoid another testing of the 79.00 level.

Picked on April 25th at $105.87 Change since picked 0.00

INKT - Inktomi Corporation $141.94 +15.13 (+12.81)

As Internet startups continue to flood the market, Inktomi (INKT) is well positioned to assist these companies with scalable infrastructure software. So much has been said lately about the hefty competition for dueling companies that run similar businesses on the Internet, but this is precisely where Inktomi stands to gain. In order to be competitive, dot.com businesses will have to purchase Inktomi software to gain that competitive edge. Somewhere along the line, investors have captured the potential for INKT and have produced stages of steady buying over the past year. Currently, the Company has 300 million shares authorized and 107.2 outstanding. Due to its recent rebound, the stock has retraced to previous split territory ($145). Given the strength of this rebound and its current trading range, it's not out of the question for a split to occur in the near future. Much of this recovery was the result of a solid bounce off the 200-dma last week. Carrying prices higher after the bounce was an upgrade from Merrill Lynch to a near-term buy. The strength behind this current advance may send prices up to test the $150 level. From there, expect further resistance at the 50-dma at $160. As for support, the 5-dma should offer some at $130, followed with additional support at $125. Potential plays can be opened with price reversals off support or advances through resistance, when market momentum is affirmed. Use support and resistance to trigger buys or sells. We will update you as to any upcoming triggering events that may foster a split announcement as they become publicized.

Picked on April 25th @ $141.94 Change since picked 0.00

TER - Teradyne $103.38 +10.88 (+7.07)

Semiconductor equipment stocks were among the strongest during the correction and Teradyne was among the most resilient. Teradyne successfully tested the mid $70's three times in the past two months and has built a formidable base from which it made a new high today. Semiconductor equipment companies have been very strong due to the solid growth prospects for the industry. Semiconductor demand is very strong. Perhaps the most beneficial dynamic is the fact that as chips become increasingly complex, manufacturers need more complex equipment to make the chips. This leads to a constant demand for innovative and high margin products from companies like TER. Another contributory factor to Teradyne's strength is the Company's very healthy fundamentals. Momentum traders want stocks with earnings. With a PE at a relatively low 66, Teradyne is a comparative bargain to the stocks of other fast growing industries. A split announcement could be a little ways off. There is an Annual Meeting on May 25th. A vote will be taken during the meeting to increase the number of authorized shares and would be an excellent time to announce a split. TER posted a solid quarter last week, beating the Street by $0.08 and coming in at $0.60 a share. The earnings were rewarded with upgrades from AG Edwards and Bear Stearns. The move into new highs offers us the opportunity to trade a stock with almost no overhead resistance, which is very rare indeed these days. The MACD is positive and has plenty of room to go on the upside. RSI also has some upside before indicating a short term overbought condition. Positions can be initiated as long as the stock stays above $100. A slip below that price and you may want to wait for a bounce off of $95 (5-DMA) before going long. There are not any immediate events on the horizon that would force us to exit this position. As always, we will exit following a split announcement.

Picked on April 25th @ $103.38 Change since picked 0.00

VRSN - VERISIGN, Inc. $111.00 +11.62 (-7.50)

P.E.A.D - Post earnings announcement depression? Perhaps this explains the recent behavior of Versign, Inc., after beating consensus estimates last week but missing the whisper number. At any rate, we re-initiate coverage of VRSN in expectation of a forth-coming split announcement. In May the company is expected to hold its annual shareholders meeting, although a date has yet to be specified, we are anticipating this event to spark a split announcement. Yesterday, the stock traded as low as 91.00, a level of support tested twice earlier in the month. We now feel that with earnings behind us and with the formation of a triple bottom, that VRSN is poised to run. Volume today was up 25% from average, to 5.1 million shares. Recent run-ups in the stock have been accompanied by volume of at least 5 million shares, expect no less now and use this as a confirmation of a sustainable rally. Beside the pending $21 billion dollar acquisition of Network Solutions, VRSN should have little to hold it back from a nice run. Support is back at $91.00 while light resistance might be tested at $116.90 (the 200-dma) $120 then at $130. If today's comments about a NASDAQ rally and a possible bottom hold true, then VRSN should be on the profit train. Confirm the movement in the NASDAQ and the sector before going into this play. VRSN can be a quick gainer, don't get greedy; take profits when they come by using trailing stops. We will be watching for a date for the shareholders meeting and advise you accordingly. Our stop will be set at 90.00.

Picked on April 25th at $111.00 Change since picked 0.00

VSH - Vishay Intertechnology Inc. $67.50 +5.75 (+2.63)

Can you imagine a technology stock that was scarcely afflicted by the month long correction in the NASDAQ composite? Well, we've found one for you! A leading manufacturer of passive electronic components and semiconductors, Vishay, has proven that earnings really do make a difference. Set to grow revenues by 35% in 2000 and 15% in 2001, VSH has been able to generate solid growth through a dynamic acquisition strategy. This strong growth has sent shares running to new 52-week highs and well above previous split levels. The Company, which currently has 86.1 million shares and 20 million authorized, will ask shareholders to vote for additional shares at the annual meeting (5/18). Currently, the chart is looking very ready for a possible breakout to new all-time highs. Today's strong advance on good volume (900K) should help to assist this breakout and send prices above their 52-week high of $68.94. Above this level, expect to see extended resistance at the $75 mark. As for support, $60 should be healthy, propped up by the 20-dma ($60.23). Beyond this point, the 50-dma of $54.13 has been providing good trendline support over the past month. Look to open new positions when solid bounces off support or runs through resistance are confirmed by good volume. The earnings date is in question and will be confirmed in future updates.

Picked on April 25th @ $67.50 Change since picked 0.00

XLNX - Xilinx $70.38 +7.38 (+4.63)

XLNX has been one of the favorites of the semiconductor trader for much of this year. Today, XLNX got a huge boost from Merrill Lynch when the brokerage firm held a company wide conference call revealing the technology stocks that their analysts believe will be the biggest beneficiaries of the post PC world. The reason for this enthusiasm is because XLNX makes some of the most advanced and versatile chips in the world. XLNX's customizable chips are used in industries as far reaching as telecommunications to medical instrumentation. Research firm W.R. Hambrecht also took advantage of yesterday's price weakness and raised their rating to Strong Buy from Buy. XLNX last split its shares in December. The 2:1 split was announced when the stock was only trading at $68.63. With the stock trading at similar levels today, a split announcement is possible. We are not depending on a split to make this play work, especially considering that the previous two splits were announced in conjunction with an earnings announcement. XLNX reported earnings last week and posted a solid quarter, beating the Street's estimates by a penny. The Company currently does not have enough authorized shares for a 2:1 split. The better story for a nice run in XLNX can be found in the technicals. XLNX formed a nice base at $54 during last week's carnage and bounced back to $70.13. Yesterday's selling took the stock down to a level that was comfortably above last week's low, as investors could not be baited out of this favorite this time around. By closing just above last week's high today, it appears that XLNX is ready to take on the task of re-capturing the rest of its early April losses. Consequently, we recommend adding positions at current levels. A good place to enter a stop order would be just below yesterday's low of $59.75. Otherwise, look for XLNX to slowly move higher and perhaps test its old high at $88.50 in a week or two. Between there and the current level, expect resistance $74 as both the 20 and 50-dma's reside at that level. The technicals will probably dictate when we exit this one, unless we do get some sort of split announcement out of the Company.

Picked on April 25th @ $70.38 Change since picked 0.00

SPLIT RUN PLAY UPDATES

DOW - Dow Chemical Company $108.00 -1.00 (+2.63)

Can you picture a chemical manufacturing company behaving like a growth stock? If not, then one look at the DOW chart may make you change your mind. Several large price advances, common to the technology market, give DOW the appearance of a growth stock. Many of these advances are likely due to DOW's strong foothold in the highly cyclical chemical market. To add another interesting development, DOW just released plans today to develop the first world-scale facility that creates plastics from corn. Commenting on the release, Lee Klein, president of the National Corn Growers Association, stated, "The development of a manufacturing plant that can make commercially available plastics and natural- synthetic fibers out of an agricultural crop, such as corn, is a significant milestone for U.S. farmers". Though today's news release was likely responsible for an early advance to $111.63, shares settled off their highs to close at $108. With pre- earnings momentum, we expect to see another run-up near today's highs where initial resistance might come at the 20-dma ($112.40). If good volume can push prices through this level, then look to the 100-dma ($116.16) as the next area to take profits. Remember to act swiftly at these levels, as reversals may be quick. We'll plan on closing positions ahead of Wednesday's close, as earnings will be released the following morning, 4/27.

Picked on April 23rd @ $105.38 Change since picked +2.62

MRVC - MRV Communications $58.88 +10.63 (+2.81)

MRV Communications is holding its ground and looks ready to move higher from the basing area near $50. On Tuesday, the stock traded sharply higher up from support. The good news here is that MRVC also made a higher low during Monday's panic selling, which is a positive sign. The Company is expected to announce earnings on 4/27 after the bell and we are going to drop this play on Thursday (before the close) to avoid any post-earnings depression. They have already announced a 2:1 split, payable in May, so why risk it. Going forward, support has come in at the 200-dma, now at $53 with additional support at $50. Set stops under $50 to limit losses. Resistance remains firm at $60 and then $65. Initiate new plays on a bounce off of $53 or a move above $60. Open new positions on strong volume only in a rising market. We recommend an exit by Thursday with possible re-entry after assessing the earnings results and general market sentiment.

Picked on Apr 23rd @ $56.06 Change since picked +2.81

MU - Micron Technology, Inc. $129.88 +6.50 (+4.63)

I bet you can't buy just one. Chip stocks were gobbled up today as investors charged back into the market. Micron gapped open and traded as high as $133 before giving back a few points at the close. Micron, which is a global leader in DRAM and SRAM semiconductor components, must be pleased that PC demand has hit recent highs. Micron is scheduled to split on 5/2 with Monday (5/1) being the paydate. We will be exiting this play on Friday (4/28), thus making this a very short-term play. Despite the advance today, volume was less than impressive at 4.88 million shares, down almost 30 percent. The resistance level mentioned in our last report was challenged unsuccessfully today at $132.00. Once again, a convincing run should be accompanied with volume of at least 6 million shares or a convincing and sustained break out through resistance. Light support is at $125, the 5-dma, with better support at $117, the 10-dma. Again, this is very short term; we will be out by Friday's close, if not sooner.

Picked on April 23rd @ $125.25 Change since picked +4.63

ZOMX - Zomax Incorporated $42.13 +1.13 (-0.82)

Integrating itself into key day-to-day customer operations, Zomax has been able to provide outsourcing for rapid growth in computer applications. One example of this is the authoring and mastering of CD and DVD products. ZOMX uses state of the art clean rooms to assist clients in editing and encoding information for CD and DVD replication. Future demand for many of the company's outsource- related products continues to look strong, as well as its $50 million in cash and small debt. As for the chart, shares have offered good buy opportunities this week in the form of good intra-day bounces off the 200-dma ($39.13). This level should continue to provide solid support for further possible entries. If ZOMX can advance from current levels, we expect the half- century mark, bolstered by the 100-dma of $49.30, to remain as a true test of resistance for further advances. Above this level, expect to see the 50-dma of $53.48 to represent the next wall of resistance. At current levels, volume has remained relatively light and may suggest to us that selling pressure is finally drying up. Look to open new positions when strong volume (500k or better) accompanies price advances. We'll plan on exiting the stock before the payable date of 5/8.

Picked on April 23rd @ $42.94 Change since picked -0.81

SPLIT CANDIDATE PLAY UPDATES

A - Agilent Technologies $90.00 -1.62 (+0.06)

We are getting a nice little bounce in the shares of Agilent but it is a bit of a stretch to say that the stock is really moving in light of the huge rally in the shares of other technology leaders. We certainly hope that the stock can catch up soon. It is entirely possible that the stock is losing a little interest among traders due to the fact that HWP will be spinning off the remaining shares of Agilent that it still holds. The spin-off date is May 2nd. Having said that, the technicals are starting to look positive. The first hurdle was the stock's ability to hold support and stay above our stop, which is just under $84, despite a major tech wreck yesterday. As volatile as Agilent is, it does maintain a bit of stability due to the fact that it trades on the NYSE. Agilent closed near its high yesterday and was able to follow through on today's positive action with a minor rally today, again closing near its intraday high. All indications are that the stock could pop up again tomorrow and test the $100 psychological barrier. The MACD (a technical momentum indicator) looks like it wants to cross over into positive territory. If this happens, a strategy of using trailing stops could be very effective. In the early going tomorrow, we suggest raising your stops to lock in profits, a logical stop could be placed at $89. If you want to protect yourself a bit more it would be alright to raise your stop to $91.50, just below today's low. If Agilent closes above $95 you may wish to raise your stop more for the next session. Hopefully we can get a nice stair-step recovery up till May 2nd. We intend to drop this play before the HWP share spin-off.

Picked on April 18th @ $87.00 Change since picked +3.00

AMD - Advanced Micro Devices $87.50 +6.50 (+9.25)

We want chips, we want chips! Perhaps this wasn't the exact chanting on Wall Street today, but it sure could have been. Not only did AMD close at a new all time high today, but interest in the semiconductor giant was exhibited in other ways too. Monday's news announced that PC sales hit 30 million in the period ending March 31 and companies like AMD were having trouble keeping pace with the demand for chips. Additional bullish sentiment was expressed today, as the option call volume was higher than normal as investors loaded up on May, June and July options on AMD. This on the heels of AMD rolling out a prototype AMD Athlon™ processor platform supporting Double Data Rate (DDR) memory. DDR memory is the highest bandwidth and lowest-latency PC memory available. This new technology will deliver new levels of performance on math-intensive applications like video editing, CAD/CAM, and scientific applications. The good news, along with a broad market rally, was more than enough to lift AMD to new levels today. Volume was above average today at 6.3 million shares. Thursday, the Company meets to vote on increasing shares; hopefully they will announce a split at that time. Resistance will be the current price until we see otherwise. Support is back at the 5- dma at $80.00. For the first time in a few days there was talk of a NASDAQ bottom and commentators were buzzing with talk of today's tech rally. We would expect that as we approach the annual meeting that further interest would be generated in AMD. Follow the lead of the broad market and the sector before entering any new positions. We would place at stop at $75.00 (10- dma) to lock in profits.

Picked on April 16th @ $66.00 Change since picked +21.50

BRCM - Broadcom $160.88 +19.00 (+8.38)

Broadcom was off to a terrible weekly start with mid-Monday trading, sliding down to an intra-day low of $126.06 on heavy volume. The stock came back late in the day as the NASDAQ recovered. Shares of BRCM continued to rise on Tuesday thanks to a bullish call from Merrill Lynch, calling Broadcom a "must own" post-PC stock. This was very helpful because it shows that BRCM is not dependent on the slowing PC market. Also boosting the stock was a company issued report that BRCM is testing two new integrated circuits for broadband communications. The Company has its Annual Shareholder Meeting on 4/27, at which time the shareholders will vote on an increase in authorized shares. We are hoping for a split announcement as a result of the meeting. In the meantime, there is light support at $155, with stronger support on the 5 and 10-dma's at $149. Today's action took out light resistance at $160, so new resistance is at the 100-dma at $166.65, then $170. Set stops under $149 as protection. Look for a bounce off of $155 or a move above $167 on heavy volume to open new positions. Confirm market direction and sector momentum before starting new plays. Plan to exit in the session following a split announcement.

Picked on April 23rd @ $152.50 Change since picked +8.38

CPN - Calpine Corporation $84.63 +0.00 (-0.76)

Investing in utility companies generally requires a lot of patience, as profits are slowly accumulated over time. These rules just don't apply to the rapid growth philosophy of Calpine, whose return on investment was over 400% in 1999. To reaffirm its strong commitment to future growth, last week CPN stated that it plans to build a huge 250-megawatt natural gas-fired power plant in Calgary. The investment, which comes at the cost of $135 million, will present the company's first investment in the Canadian power industry and will likely be a significant addition to future revenues. Currently, shares have remained in a tight consolidation this week, finishing off the day unchanged. A break out of this consolidation should encounter its first resistance at the $90 mark, reinforced by both the 30 and 50- dma's ($90.54 and $91.75), respectfully. Advances through this level should face firm secondary resistance at the century mark. Price advances through resistance, when combined with above average volume (940k) will present good entry points. On the downside, look for $80 to show good support, bolstered by the 100-dma of $80.84. Entries can be affirmed by hard bounces off support when confirmed by good volume.

Editors Note: As confirmed by the Company, earnings are due for release Thursday before the market. We will therefore exit this play as of Wednesday's close.

Picked on April 23rd @ $85.38 Change since picked -0.75

LSCC - Lattice Semiconductor $63.00 +5.94 (+0.06)

Lattice Semiconductor opened lower Monday morning as Microsoft (MSFT) woes swept through the tech sector. LSCC hit an intra-day low of $54 but made a lackluster comeback late in the day. The stock made a full recovery by closing bell on Tuesday. Volume was average and LSCC appears to be consolidating here. The Company has scheduled its Annual Shareholder Meeting on May 2nd and we are looking for a split announcement following the meeting. Until then, support remains at $60 with stronger support at Monday's low of $54. Place stops under $54 prevent additional losses. There is resistance at $66 and then $70. Initiate new plays on a bounce off of $60 or a move above $66 on heavy volume. Confirm sector momentum and market sentiment before opening new positions. Plan to exit shortly after the Annual Meeting.

Picked on April 23rd @ $62.94 Change since picked +0.06

LVLT - Level 3 Communications $84.50 +6.50 (+1.12)

Level 3 Communications announced a new, long-term network services agreement with America Online (AOL), expanding the company's original agreement, which was announced in October. AOL will expand its use of Level 3's managed modem and network connection services. The stock popped on Tuesday following the news, trading up to $84.88 on strong volume. The Annual Shareholder Meeting will be held on 5/22 and we are looking for a split announcement in the near future or following their Shareholder Meeting. They currently have enough shares for a split so they could announce at any time. For now, LVLT has support at $79 which coincides with the 10 and 200-dma's. Further support is down at $75. Place stops under $75 to minimize losses. Resistance is steady at $88, now the 20-dma and then $90. Use a bounce off of $79 or a move above $88 to open new positions. Start new plays on heavy volume, only in a rising market. Plan to exit following the Annual Meeting or in the session following a split announcement.

Picked on April 18th @ $82.50 Change since picked +2.00

ORCL - Oracle Corporation $75.56 +3.12 (+4.75)

Keeping up with global demand for its management software has allowed Oracle to maintain its leadership position in this highly competitive industry. This leadership role has given Oracle a huge following and made it a favorite among many brokerage firms. The latest following comes from Lehman Brothers, who initiated coverage on ORCL with a buy rating. The announcement, which came just after the opening bell, helped shares to gain 4.57% to finish at $75.75. The significance of today's advance was twofold. First, shares we able to gap and run above the 50-dma ($75.21) resistance level. This advance was also fueled by a good increase in volume (30.9m shares). The combination of these two factors leads us to believe that additional advances will likely continue. Look for price runs off current levels or hard bounces off the 50-dma, to find initial resistance at $80, bolstered by the 30-dma of $78.79. Higher still, anticipate stiff resistance at the 52-week high of $90.00. Use trailing stops to lock in profits as price advances mature. Plan to hold shares through the shareholders meeting (5/10) for a split announcement to follow.

Picked on April 16th @ $63.52 Change since picked +12.04

WLA - Warner-Lambert Company $118.38 +0.25 (+4.94)

Halitosis, eczema and sinusitis; if you have ever suffered from one of these then you probably should know more about Warner- Lambert Company. Best known for over the counter products like Listerine, Lubriderm Lotion and Sudafed, WLA has enjoyed a couple of profitable days in the market. On Monday, drug stocks rallied as Merck announced positive numbers before the bell. WLA also manufactures Lipitor, an anti-cholesterol drug that rivals Merck's product, Zocur. Today, WLA achieved another new closing high of $118.38. Though the new high is a positive sign, it came on less than normal volume of 2.12 million shares, which should give investors concern. New highs on better than average volume is a much more bullish sign. The month of May will bring the long awaited merger with Pfizer. Other than that, no pressing news is on the horizon, although a split announcement is a possibility since the stock is trading at the current level. We would like to see volume increase to better than 3.7 million to confirm this new level. Support is at the 5-dma at $115 and then at $110. Resistance for now is yesterday's high at $120. Keep stops at $107 to limit losses.

Picked on April 23rd @ $113.44 Change since picked +4.94

YHOO - Yahoo! $124.50 +10.63 (+2.00)

Yahoo! was rocked on Monday courtesy of a negative Barron's article, warning of a potential slowdown in ad revenue. The stock traded lower on the news, hitting an intra-day low of $107 on Monday. The losses were reversed on Tuesday as the NASDAQ mounted a nice rally, taking YHOO along for the ride. Now that the stock has re-tested its 4/17 low, it may be able to run. The Company is holding its Annual Shareholders Meeting on 5/12 when the shareholders are voting on an increase in the number of authorized shares. We are holding for a possible split announcement following the Annual Meeting. On the technical side, there is light support at $120, with additional support at $115 and then Monday's low of $107. Place stops under $107 to limit losses. Resistance comes first at $127, which is the 200-dma. Next resistance is at $130, and then $135. Look for a bounce off of $120 or a break above $127 on heavy volume to initiate new positions. Confirm market sentiment and sector momentum before starting new plays.

Picked on April 18th @ $126.69 Change since picked -2.19

SPLIT RUN PLAY DROPS

NT - Nortel Networks Corporation $112.50 +14.00 (+10.00)

Providing further proof that its aggressive expansion campaign is rendering bottom line results, NT reported a profit jump of $347m or 23 cents a share after the bell. The results came in 5 cents higher than the 18 cents analysts were expecting. Traders, who gave the stock a nice pre-earnings run of 14.75 points today, provided us with yet another profitable play. The future of Nortel continues to look bright and should provide us ample opportunities for upcoming plays. We'll keep you posted.

Picked on April 18th @ $108.75 Profit/Loss = +3.75 (+3%) Best Profit = +11.25 (+10%)

SPLIT CANDIDATE PLAY DROPS

CLRN - Clarent Corporation $61.00 +14.75 (+7.50)

BRAVO! Very nice earnings run today from Clarent Corporation. Nonetheless, we bid farewell for now as we hold fast to our policy not to hold through earnings. After the close, the Company reported net revenues of 24.6 million dollars, which represents a 266% increase from the same quarter last year. The Company experienced a net loss of 0.02 cents per shares. Consensus estimates were for a loss of 0.05 cents with a whisper number of 0.04. As previously stated, we exited ahead of the announcement. We will watch CLRN for further trading opportunities.

Picked on April 18th @ $56.75 Profit/loss = +4.25 (+7%) Best profit = +14.13 (+25%)

MXIM - Maxim $65.88 +7.06 (+6.13)

Maxim announced earnings after the bell on Tuesday. They were in- line with expectations and they did not announce a split. Hopefully, you took our advice and got out before the closing bell because in-line results have been frowned upon lately. This why we like to get out before the numbers are released. If you still have open positions on MXIM, place tight stops under $65 and look for an exit Wednesday.

Picked on April 16th @ $50.31 Profit/Loss = +15.56 (+31%) Best Profit = +16.06 (+32%)

PWAV - Powerwave Technologies Inc. $179.81 +19.00 (+11.56)

We were unplugged from the "Power" as a "wave" of sellers came into the market on Monday when the stock hit our stop at $150. In volatile times such as these, one can expect that stops will be hit. Long term however, the discipline of using stops will prove to be a valuable tool in the trader's toolbox. This is a good example of why not to trade in the first 15-30 mins. of trading as the market makers tend to manipulate the market. Powerwave recovered nicely today and we will be watching for future opportunities as they may soon announce a split. The Company has their annual meeting scheduled for tomorrow at which time they may approve a 3 for 1 split. We will keep you advised of any developments with Powerwave.

Picked on April 23rd @ $168.25 Profit/loss = -18.25 (-11%) (Stopped out Monday @ $150.00) Best Profit = -11.87 (-7%) (Based upon Monday's open @ $156.38)

TFS - Three-Five Systems $81.88 +4.38 (+1.25)

TFS was barely able to climb into profit territory for the week today after gaining over 4 points on a split announcement. The 3:2 split was announced before the open today. According to our strategy of selling at the close following a split announcement, you likely sold TFS on the close today. In a highly unusual move, we have decided to re-add TFS as a split play immediately because the payable date is extremely close and is set for May 12th. If you did not sell on the close you should hold on to your position. The split is contingent upon a shareholder approval of an increase in the number of authorized shares. The vote will be held during the April 27th annual meeting. TFS has been a strong relative strength trooper in this market and we believe that jumping back in could result in some nice profits. See the NEW SPLIT RUN PLAYS section for more details on the play going forward.

Picked on April 16th @ $66.50 Profit/Loss = +15.38 (+23%) (End of Split Candidate Play) Best Profit = +20.50 (+31%)

TIBX - Tibco Software $79.38 +14.38 (+11.50)

Tibco is fast becoming a great trading stock as it attempts to build a base in the $55-$75 range. Perhaps our stop was a bit tight but the stock did slice through the $64 stop price like a hot knife through butter during the opening minutes of the session following the MSFT earnings report (it actually traded as low as $58). If we are going to make money during this wild market period our number one mantra is to preserve capital. We made a little profit and you have the money to make your next play. Wonder how many people sold at the bottom yesterday?

Picked on April 18th @ $61.25 Profit/Loss = +2.75 (+4%) (Stopped out Monday @ $64.00) Best Profit = +11.25 (+18%)

VSTR - Voicestream Wireless $93.00 +6.13 (-7.94)

By being a disciplined trader yesterday and stopping out of VSTR for a one point loss we avoided diving into our Maalox supplies as the stock plummeted down to $83.50 during yesterday's panic selling. It seemed entirely possible that the stock could drop all the way down to last week's low of $80.50. We still like the long-term prospects for this company and it appears that the stock has put in a double bottom. Do not be surprised if we visit this play again.

Picked on April 16th @ $90.00 Profit/Loss = -1.00 (-1%) (Stopped out Monday @ $89) Best Profit = +19.50 (+22%)