Re: [CANSLIM] Worley's Weekend Weeview

From: esetser <esetser@covad.net>
Subject: Re: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 26 Jan 2002 13:05:52 -0800
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The time required for CANSLIM varies significantly based on your specific
approach and your tools, but overall, I think 2 hours per day is plenty.  I
use primarily Daily Graphs Online to perform initial screening on the
weekend, and to go through the charts and generate a candidate list for the
next week.  Given something like 2-3 hours on the weekend, it takes me very
little time during the week to monitor the list.  In addition, I only
generate the lists when I'm in the market for a new purchase, so I don't
always go through the process each weekend. 

As far as chart details, this group is a great place to compare notes on
various charts and see how others are interpreting various formations.  I
think it's only when you are close to a decision that you need to look at
all the finer points of the chart.  At least for me, I do a very quick
chart review before placing it on a candidate list, but a much closer look
when considering an imminent purchase.

At 02:55 PM 1/26/02 -0500, you wrote:
>   Hello All,        I have developed an interest in the Canslim process,
>as all  the other stock picking ideas I've tried haven't given me the
>results I've hoped  for.   One thing I notice when reading the posts is you
>must spend a  lot of time doing your research. It appears to be a full time
>job.    The work that Tom Worley put in The Weekend Weeview must have 
>taken many hours of work.     Is that enough time to find stocks  that will
>give me positive results.     Is  that kind of detail necessary or is it
>just fine tuning of the  research?      Are there any funds that use the
>Canslim process?   Thanks for your help. Bert Pesak   bpesak@ct1.nai.net   
>      ----- Original Message -----    From:    Tom Worley       To:
>canslim@lists.xmission.com    Sent: Saturday, January 26, 2002 9:23    AM  
>Subject: [CANSLIM] Worley's Weekend    Weeview   
>   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      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.    
>      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.       
>      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.       & handle,    double
>bottom, LLUR, etc., I will state.       &h, handle 5+ weeks on declining
>volume   &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   &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   &h, started b/o Friday, nearly 2X
>ADV but not past pivot of    36.35   POSS - B4   RGIS - B4   RYAN - LLUR  
>&h, high handle 3 weeks   &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
>  Attachment Converted: "c:\covad\eudora\attach\USflag1.gif" 


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