[CANSLIM] Worley's Weekend Weeview

From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 9 Feb 2002 07:12:08 -0500
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JAPAN
This country just can't stay out of the news, and its usually bad. Last =
Friday, the Nikkei closed numerically below the DOW 30, and fell further =
to 9631 on Monday. Last time it was below the DOW?? August 6, 1957, just =
about when I first started investing. Its now down over 75% from its =
high of 38,915 in the late '80s. No surprise, its banking industry =
continues to lead the slide as the govt watchdog reports that the volume =
and percentage of bad loans increased another 9% or so in past six =
months, despite massive write offs. The Financial Services Agency now =
says banks have $276 billion in bad loans, but many think this number is =
still too conservative and understated (I keep hearing one trillion as =
more realistic). Tuesday saw 7 of its biggest banks get a ratings =
downgrade by Standard & Poors, and Moody's put 7 life insurer companies =
on credit watch for a possible downgrade, as the Nikkei fell again, this =
time to 9475, a new 18+ YEAR low. Anybody know where the DOW was 18 =
years ago? NASDAQ didn't even exist then, I think.

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

MORE ACCOUNTING SHENANIGANS?
Tyco admits that it spent over $8 billion in the past three years on =
about 700 acquisitions it never announced. Says their size made the news =
"immaterial" given the size of Tyco.=20

Ernst & Young announces it will no longer sell info technology services =
to companies it audits. It also will stop serving as both internal =
accountant and external auditor to the same firm. This leaves Deloitte & =
Touche as the only "Big 5" (which probably should be the "big 4 1/2 =
now") which still does both consulting and auditing at the same company, =
although they did announce on Tuesday that they will "separate" their =
auditing and consulting business.

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

EARNINGS
About 70% of the S&P500 companies have reported. Average earnings =
decline is nearly 24% compared to 2000. Yet, of the 343 actual reports, =
197 beat expectations, while 92 met expectations. Analysts expect a =
further 8% decline in earnings for the Q1, but a growth of 17% in =
earnings for all of 2002.=20
- -------------------------------------------------------------------------=
- -------

WORLEY'S WATCHLIST WANNABES
Bx means a flat line "B"ase of "x" weeks, IMO. Any other formations such =
as a c&h, double bottom, LLUR, etc I will mention.

The population of stocks I am reviewing this weekend has increased =
slightly despite a poor "M"

BMS - B2, weak growth
BYD - nice b/o Friday from a B2 on 4X ADV, extended
CBMD - B5, weak growth
CUNO - B2
DCOM - c&h, handle 4 weeks
DKWD - LLUR
DLX - just motoring on its beautiful LLUR route despite low growth
ELTE - B2, in my VR fund
EPIQ - 8 week consolidation, I own & have in VR fund
EV - B2
FCEA - B8, weak growth for new year
FMAR - B5
GFF - LLUR
GOSHA - B4, low growth
HOV - B6
ICBC - B2, stealth b/o Friday
INDB - B6
ISLE - b3, in my VR fund
LOGI - B2
MBFI - B5
MFA - B4-, big volume Friday (churning?)
PDCO - LLUR
PETM - LLUR
PORT - B4
RDN - B4
RMCI - building the handle on a double bottom cup?, I own & have in VR =
fund
SWTX - staircase
TASR - B4, EPS only 55
TLK - c&h, low priced
URBN - B7
URS - B4

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>
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<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial><STRONG>JAPAN</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>This country just can't stay out of the news, =
and its=20
usually bad. Last Friday, the Nikkei closed numerically below the DOW =
30, and=20
fell further to 9631 on Monday. Last time it was below the DOW?? August =
6, 1957,=20
just about when I first started investing. Its now down over 75% from =
its high=20
of 38,915 in the late '80s. No surprise, its banking industry continues =
to lead=20
the slide as the govt watchdog reports that the volume and percentage of =
bad=20
loans increased another 9% or so in past six months, despite massive =
write offs.=20
The Financial Services Agency now says banks have $276 billion in bad =
loans, but=20
many think this number is still too conservative and understated (I keep =
hearing=20
one trillion as more realistic). Tuesday saw 7 of its biggest banks get =
a=20
ratings downgrade by Standard &amp; Poors, and Moody's put 7 life =
insurer=20
companies on credit watch for a possible downgrade,&nbsp;as the Nikkei =
fell=20
again, this time to 9475, a new 18+ YEAR low. Anybody know where the DOW =
was 18=20
years ago? NASDAQ didn't even exist then, I think.</DIV>
<DIV>
<HR>
</DIV>
<DIV><STRONG>MORE ACCOUNTING SHENANIGANS?</STRONG></DIV>
<DIV>Tyco admits that it spent over $8 billion in the past three years =
on about=20
700 acquisitions it never announced. Says their size made the news =
"immaterial"=20
given the size of Tyco. </DIV>
<DIV>&nbsp;</DIV>
<DIV>Ernst &amp; Young announces it will no longer sell info technology =
services=20
to companies it audits. It also will stop serving as both internal =
accountant=20
and external auditor to the same firm. This leaves Deloitte &amp; Touche =
as the=20
only "Big 5" (which probably should be the "big 4 1/2 now") which still =
does=20
both consulting and auditing at the same company, although they did =
announce on=20
Tuesday that they will "separate" their auditing and consulting =
business.</DIV>
<DIV>
<HR>
</DIV>
<DIV><STRONG>EARNINGS</STRONG></DIV>
<DIV>About 70% of the S&amp;P500 companies have reported. Average =
earnings=20
decline is nearly 24% compared to 2000. Yet, of the 343 actual reports, =
197 beat=20
expectations, while 92 met expectations. Analysts expect a further 8% =
decline in=20
earnings for the Q1, but a growth of 17% in earnings for all of 2002.=20
<HR>
</DIV>
<DIV><STRONG>WORLEY'S WATCHLIST WANNABES</STRONG></DIV>
<DIV>Bx means a flat line "B"ase of "x" weeks, IMO. Any other formations =
such as=20
a c&amp;h, double bottom, LLUR, etc I will mention.</DIV>
<DIV>&nbsp;</DIV>
<DIV>The population of stocks I am reviewing this weekend has increased =
slightly=20
despite a poor "M"</DIV>
<DIV>&nbsp;</DIV></FONT>
<DIV><FONT face=3DArial>BMS - B2, weak growth</FONT></DIV>
<DIV><FONT face=3DArial>BYD - nice b/o Friday from a B2 on 4X ADV,=20
extended</FONT></DIV>
<DIV><FONT face=3DArial>CBMD - B5, weak growth</FONT></DIV>
<DIV><FONT face=3DArial>CUNO - B2</FONT></DIV>
<DIV><FONT face=3DArial>DCOM - c&amp;h, handle 4 weeks</FONT></DIV>
<DIV><FONT face=3DArial>DKWD - LLUR</FONT></DIV>
<DIV><FONT face=3DArial>DLX - just motoring on its beautiful LLUR route =
despite=20
low growth</FONT></DIV>
<DIV><FONT face=3DArial>ELTE - B2, in my VR fund</FONT></DIV>
<DIV><FONT face=3DArial>EPIQ - 8 week consolidation, I own &amp; have in =
VR=20
fund</FONT></DIV>
<DIV><FONT face=3DArial>EV - B2</FONT></DIV>
<DIV><FONT face=3DArial>FCEA - B8, weak growth for new year</FONT></DIV>
<DIV><FONT face=3DArial>FMAR - B5</FONT></DIV>
<DIV><FONT face=3DArial>GFF - LLUR</FONT></DIV>
<DIV><FONT face=3DArial>GOSHA - B4, low growth</FONT></DIV>
<DIV><FONT face=3DArial>HOV - B6</FONT></DIV>
<DIV><FONT face=3DArial>ICBC - B2, stealth b/o Friday</FONT></DIV>
<DIV><FONT face=3DArial>INDB - B6</FONT></DIV>
<DIV><FONT face=3DArial>ISLE - b3, in my VR fund</FONT></DIV>
<DIV><FONT face=3DArial>LOGI - B2</FONT></DIV>
<DIV><FONT face=3DArial>MBFI - B5</FONT></DIV>
<DIV><FONT face=3DArial>MFA - B4-, big volume Friday =
(churning?)</FONT></DIV>
<DIV><FONT face=3DArial>PDCO - LLUR</FONT></DIV>
<DIV><FONT face=3DArial>PETM - LLUR</FONT></DIV>
<DIV><FONT face=3DArial>PORT - B4</FONT></DIV>
<DIV><FONT face=3DArial>RDN - B4</FONT></DIV>
<DIV><FONT face=3DArial>RMCI - building the handle on a double bottom =
cup?, I own=20
&amp; have in VR fund</FONT></DIV>
<DIV><FONT face=3DArial>SWTX - staircase</FONT></DIV>
<DIV><FONT face=3DArial>TASR - B4, EPS only 55</FONT></DIV>
<DIV><FONT face=3DArial>TLK - c&amp;h, low priced</FONT></DIV>
<DIV><FONT face=3DArial>URBN - B7</FONT></DIV>
<DIV><FONT face=3DArial>URS - B4</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Happy hunting,</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial><IMG alt=3D"" hspace=3D0=20
src=3D"cid:003c01c1b162$ff00abf0$07a08fd0@D73PS211" align=3Dbaseline=20
border=3D0></FONT></DIV>
<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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