Re: [CANSLIM] Worley's Weekend Weeview

From: "Robert Gammon" <rgammon51@yahoo.com>
Subject: Re: [CANSLIM] Worley's Weekend Weeview
Date: Mon, 28 Jan 2002 07:15:21 -0600 (CST)
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Ben,
   You have already spotted it.  LLUR is a consitently rising 
stock price when viewed on a  chart.  Its not truely CANSLIM, yet 
some of us believe that it is a profitable trend to ride.  
CANSLIM trading criteria to indicate when to buy do not apply.  
Basically, you hop on for the ride, set your stops and maintain 
them for as long as you can.

Robert

On Mon, 28 Jan 2002 08:08:07 -0500, Ben Chilcote wrote:

>Tom,
>Enjoyed reading your Weekned Weeview.  I looked at charts of all 
the stocks in your watchlist and I have a question.  What does 
LLUR stand for?  I can see from the charts that it is a stock the 
is slowly and constistantly rising staying above the 50DMA.  
Also, where is the pivot or buying point for these kinds of 
stocks?  I had seen the chart of DLX late last fall and was 
amazed recently to see it still following the same pattern, so 
last week I bought some shares of DLX, hoping that the trend will 
continue.  I suppose this type of stock will not yield amazing 
returns but hopefully a longterm steady return. 
>
>As a new member of the discussion group, I am enjoying reading 
and learning from all the emails.
>Ben
>  ----- 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
>  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. 
>----------------------------------------------------------------
- --------------
>
>  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.
>
>  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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