AXA Financial, Inc. is a financial services company offering financial advisory, insurance, investment banking, and brokerage & investment management services. For the 9 months ended 9/30/00, revenues increased 14% to $5B. Net income from continuing operations increased 48% to $520.5M. Revenues reflect market appreciation and good investment performance. Net income reflects decreased interest credited to policyholders% account balances.

December 3, 2000

AXA Financial took a breather on Friday just one day after achieving a new 52-week high. AXA has approximately $400 billion in assets under management and is one of the world 's premier financial service organizations because of its strong brands. AXA Financial is a member of the global AXA Group, which has operations in approximately 60 countries and has more than $900 billion in assets under management. Besides having a strong corporate history the company continues to impress Wall Street with their earnings. For the past 5 quarters in a row the company has exceeded expectations. It announced a stock split around current levels in 1999 and we are looking for a repeat performance in the not too distant future. Earnings are scheduled for February and might be the right time for such an announcement. Looking at the chart of AXF, we note that as of Friday's close support can be found at $55.00. Resistance will likely pose a threat at the 5-dma at $55.60 and Thursday's new high of $56.31. New position opportunities might present themselves if the stock can make an assault on resistance with volume exceeding the 3-month average of 2.1 million shares. We will keep our protective stop just below support at $53.00. Please review all our stop position at our IN PLAY section.

December 7, 2000

If volatile stocks aren't your style, then we suggest you take a look at AXA Financial. The company can best be described as a "steady plodder." Since March 10, the stock has more than doubled and now looks poised to announce a stock split. AXF is recognized as a world leader in a broad array of financial services including insurance, investment banking and brokerage & investment management services. AXF has been consolidating at its current level for over a month now, and we are expecting this pressure cooker to burst to the upside at any time. With regard to a possible split announcement, AXF announced a 2-for-1 at this same price level last year. As of Thursday's close, AXF has technical support at the 20-dma of $55.42 and then the 50-dma of $53.71. Resistance is up at the recent high of $56.43. Look for resistance to be conquered on volume over the three-month average of 1.8 million shares. A break out on good volume in conjunction with a broad market rally might make a good entry point for a new play. Continue to watch the Dow Jones Industrial Average (INDU) and the NYSE Financial Index (NF) for leadership. We are standing pat with our stop loss at $53.00.

Picked on November 30th @ $56.31
Change since picked -0.62
Stop Loss @ $53.00

December 5, 2000

Financial and insurance giant AXA Financial vaulted to another new high of $56.44. We recently initiated coverage of this stock and have them targeted for a possible split announcement. Were the company to announce a split, it would need a vote from shareholders to increase the number of authorized shares first, but that can be easily accomplished. It was approximately this time last year at this same price level that AXF announced a 2-for-1 split. The chart reveals a company that has been on a slow but bullish ascent since March of this year. As of Tuesday's close, the stock shows support at the 5-dma at $55.85, the 20-dma at $55.41 and the 50-dma at $53.50. Resistance will now be the new high of $56.44. Look for bullish momentum and good volume over the three-month average of 1.8 million shares when considering new play opportunities. Use intra-day bounces off support levels as other possible entry points. We will post our protective stop at $53.00.