[CANSLIM] Worley's Weekend Weeview

From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 26 Jan 2002 09:23:13 -0500
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LEAVE IT TO THE JAPANESE
A Japanese toymaker (Takara Co. Ltd.) intends to begin building electric =
cars. Not toys, real cars, that can be driven on the highway. They also =
make karaoke systems, robots that open beer cans, and remote operated =
cars for young adults.

- -------------------------------------------------------------------------=
- -------

LEADING INDICATORS
Latest report (for Dec) shows 8 of the 10 components rising, overall =
rate up 1.2%. This is the third monthly improvement (largest since =
1996), and combined with the 0.8% gain in Nov, is the largest two month =
gain since 1992. Best indication from this is no Fed rate cut Jan 30. =
Since expectation of another 25 basis point cut is already priced into =
the market, this could be bad, but likely more than offset by an upbeat =
Greenspan. Mr. Greenspan address to Congress on Thursday did clarify, as =
some rumors suggest his words on Jan 11 were taken as more bearish and =
concerned about the economy than he intended. The coincident indicators, =
BTW, which measure current economic activity, reversed to the positive =
in December, up 0.1% after a drop of 0.3% in November. Still, I am now =
expecting the Q4 GDP will end up being a negative number, confirming =
that we had (note the past tense) a recession.=20
- -------------------------------------------------------------------------=
- -------

UNEMPLOYMENT
While expectations continue that the overall rate will rise to 6% or =
higher, it is worth noting that new claims continue to fall, and this =
week once again were below expectations. The 4 week average, a more =
reliable indicator, also dipped nearly to 400,000, and continuing claims =
dropped by 50,000.=20

- -------------------------------------------------------------------------=
- -------

UPCOMING INFLUENCES
This week is full of some major economic reports, plus the meeting of =
FOMC on Tue/Wed. Monday we get new home sales (industry remains very =
strong, saw a lot of good looking stocks today), Tuesday is Consumer =
Confidence and Durable Goods reports, Wednesday we get the first reading =
on the GDP for Q4, Thursday we get the Personal Income and Spending =
Report, and Friday we get the Employment Report for January.

- -------------------------------------------------------------------------=
- -------

WORLEY'S WATCHLIST WANNABEES
Although the markets didn't seem to do much this week, the population of =
stocks I am reviewing this week is growing. New highs continue to =
substantially exceed new lows, and up/down volume seemed to be higher as =
well.

As always, Bx is my shorthand for a flat line "B"ase of "x" weeks =
duration, IMO. Any larger basing pattern I see, such as a cup & handle, =
double bottom, LLUR, etc., I will state.

BBY - c&h, handle 5+ weeks on declining volume
BVN - c&h, handle 2 weeks, vol still high, Peruvian firm
CEDC - LLUR
CRFT - B6
DKWD - volatile LLUR
DLX - amazingly smooth LLUR even tho forecasts not great
ELTE - didn't quite break the pivot on Friday on 2X ADV
EME - nice double bottom, low forecasts, handle trending slightly up on =
low volume, 5 weeks
EUNI - what a wild ride, can't read the chart, strong forecasts, low =
price
FCN - LLUR, broke out to the high side of range on volume
FHRX - former LLUR that broke pattern to downside, may now be c&h =
w/rough 5 week handle
FMAR - high handle to the cup, low price and volume
FRED - LLUR
GFF - LLUR
HCBK - smooth ascent, not sure how to read it but strong earnings =
forecast and 3 div increases in 3 qtrs
HOV - nice 5 week high handle on a smooth cup, low forecast and latest =
qtr down slightly
HTRN - high handle on nice cup, good forecast
IART - high side of trading range, volume dropping, strong forecast
MDCI - B4, well under high but good forecast
NLY - B4
PENN - high handle forming?
PETM - nice LLUR
PFGC - c&h, started b/o Friday, nearly 2X ADV but not past pivot of =
36.35
POSS - B4
RGIS - B4
RYAN - LLUR
SCVL - c&h, high handle 3 weeks
STSA - c&h, new handle, selling vol above avg but price holding
TASR - B2, EPS only 55 but earnings forecast 227%
URBN - B5
WSH - tight B9 despite doing a secondary offering soon after the IPO
WTSLA - B2

Happy Hunting,



Tom Worley
stkguru@netside.net
AIM: TexWorley

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<HTML><HEAD>
<META http-equiv=3DContent-Type content=3D"text/html; =
charset=3Diso-8859-1">
<META content=3D"MSHTML 6.00.2712.300" name=3DGENERATOR>
<STYLE></STYLE>
</HEAD>
<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial><STRONG>LEAVE IT TO THE =
JAPANESE</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>A Japanese toymaker (Takara Co. Ltd.) intends to =
begin=20
building electric cars. Not toys, real cars, that can be driven on the =
highway.=20
They also make karaoke systems, robots that open beer cans, and remote =
operated=20
cars for young adults.</DIV>
<DIV>
<HR>
</DIV>
<DIV><STRONG>LEADING INDICATORS</STRONG></DIV>
<DIV>Latest report (for Dec) shows 8 of the 10 components rising, =
overall rate=20
up 1.2%. This is the third monthly improvement (largest since 1996), and =

combined with the 0.8% gain in Nov, is the largest two month gain since =
1992.=20
Best indication from this is no Fed rate cut Jan 30. Since expectation =
of=20
another 25 basis point cut is already priced into the market, this could =
be bad,=20
but likely more than offset by an upbeat Greenspan. Mr. Greenspan =
address to=20
Congress on Thursday&nbsp;did clarify, as some rumors suggest his =
words&nbsp;on=20
Jan 11&nbsp;were taken as more bearish and concerned about the economy =
than he=20
intended. The coincident indicators, BTW, which measure current economic =

activity, reversed to the positive in December, up 0.1% after a drop of =
0.3% in=20
November. Still, I am now expecting the Q4 GDP will end up being a =
negative=20
number, confirming that we had (note the past tense) a recession.=20
<HR>
</DIV>
<DIV><STRONG>UNEMPLOYMENT</STRONG></DIV>
<DIV>While expectations continue that the overall rate will rise to 6% =
or=20
higher, it is worth noting that new claims continue to fall, and this =
week once=20
again were below expectations. The 4 week average, a more reliable =
indicator,=20
also dipped nearly to 400,000, and continuing claims dropped by 50,000. =
</DIV>
<DIV>
<HR>
</DIV>
<DIV><STRONG>UPCOMING INFLUENCES</STRONG></DIV>
<DIV>This week is full of some major economic reports, plus the meeting =
of FOMC=20
on Tue/Wed. Monday we get new home sales (industry remains very strong, =
saw a=20
lot of good looking stocks today), Tuesday is Consumer Confidence and =
Durable=20
Goods reports, Wednesday we get the first reading on the GDP for Q4, =
Thursday we=20
get the Personal Income and Spending Report, and Friday we get the =
Employment=20
Report for January.</DIV>
<DIV>
<HR>
</DIV>
<DIV><STRONG>WORLEY'S WATCHLIST WANNABEES</STRONG></DIV>
<DIV>Although the markets didn't seem to do much this week, the =
population of=20
stocks I am reviewing this week is growing. New highs continue to =
substantially=20
exceed new lows, and up/down volume seemed to be higher as well.</DIV>
<DIV>&nbsp;</DIV>
<DIV>As always, Bx is my shorthand for a flat line "B"ase of "x" weeks =
duration,=20
IMO. Any larger basing pattern I see, such as a cup &amp; handle, double =
bottom,=20
LLUR, etc., I will state.</DIV>
<DIV>&nbsp;</DIV>
<DIV>BBY - c&amp;h, handle 5+ weeks on declining volume</DIV>
<DIV>BVN - c&amp;h, handle 2 weeks, vol still high, Peruvian firm</DIV>
<DIV>CEDC - LLUR</DIV>
<DIV>CRFT - B6</DIV>
<DIV>DKWD - volatile LLUR</DIV>
<DIV>DLX - amazingly smooth LLUR even tho forecasts not great</DIV>
<DIV>ELTE - didn't quite break the pivot on Friday on 2X ADV</DIV>
<DIV>EME - nice double bottom, low forecasts, handle trending slightly =
up on low=20
volume, 5 weeks</DIV>
<DIV>EUNI - what a wild ride, can't read the chart, strong forecasts, =
low=20
price</DIV>
<DIV>FCN - LLUR, broke out to the high side of range on volume</DIV>
<DIV>FHRX - former LLUR that broke pattern to downside, may now be =
c&amp;h=20
w/rough 5 week handle</DIV>
<DIV>FMAR - high handle to the cup, low price and volume</DIV>
<DIV>FRED - LLUR</DIV>
<DIV>GFF - LLUR</DIV>
<DIV>HCBK - smooth ascent, not sure how to read it but strong earnings =
forecast=20
and 3 div increases in 3 qtrs</DIV>
<DIV>HOV - nice 5 week high handle on a smooth cup, low forecast and =
latest qtr=20
down slightly</DIV>
<DIV>HTRN - high handle on nice cup, good forecast</DIV>
<DIV>IART - high side of trading range, volume dropping, strong =
forecast</DIV>
<DIV>MDCI - B4, well under high but good forecast</DIV>
<DIV>NLY - B4</DIV>
<DIV>PENN - high handle forming?</DIV>
<DIV>PETM - nice LLUR</DIV>
<DIV>PFGC - c&amp;h, started b/o Friday, nearly 2X ADV but not past =
pivot of=20
36.35</DIV>
<DIV>POSS - B4</DIV>
<DIV>RGIS - B4</DIV>
<DIV>RYAN - LLUR</DIV>
<DIV>SCVL - c&amp;h, high handle 3 weeks</DIV>
<DIV>STSA - c&amp;h, new handle, selling vol above avg but price =
holding</DIV>
<DIV>TASR - B2, EPS only 55 but earnings forecast 227%</DIV>
<DIV>URBN - B5</DIV>
<DIV>WSH - tight B9 despite doing a secondary offering soon after the =
IPO</DIV>
<DIV>WTSLA - B2</DIV>
<DIV>&nbsp;</DIV>
<DIV>Happy Hunting,</DIV>
<DIV>&nbsp;</DIV>
<DIV><IMG alt=3D"" hspace=3D0 =
src=3D"cid:004f01c1a674$fd24a960$13a08fd0@D73PS211"=20
align=3Dbaseline border=3D0></DIV></FONT>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Tom Worley<BR><A=20
href=3D"mailto:stkguru@netside.net">stkguru@netside.net</A><BR>AIM:=20
TexWorley</FONT></DIV></BODY></HTML>

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