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To: yu who wrote (4828)	1/17/2003 7:38:24 AM
From: Steve Lee	Respond to of 29601

Another theory floated for the split was based on them issuing the plit and dividend announcement in a separate press release minutes before the earnings were released. It is alleged that this tactic produced buying in after hours to stoke a rally that migh soften the coming blow. Looking at the after hours 1 min chart supprts this. I doubt they split the stock for such a short term consideration, but the timing of the two PRs may well have been intended to support the price. And yes, the MAs and supports will all be split adjusted for anyone looking at a chart. But there is the psychological price point factor to consider. Support and resistance supposedly "work", not just because of chart readers, but because people get out where they got in when they have watched a stock rise and then give up all the gains. Changing the prices through a split doesnt fool the chartists, but it confuses people who trade based on gut and vague memory. I think there are a lot (most?) of people out there who fit that description.