Go to Jeff Salisbury LWGate Home Page.From: "Duke Miller" <dukemill@tampabay.rr.com>
Subject: RE: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 2 Mar 2002 21:22:47 -0500
Previous Article (by Subject): Re: [CANSLIM] Worley's Weekend Weeview Gene Ricci
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This is a multi-part message in MIME format. - ------=_NextPart_000_0008_01C1C230.661BEF10 Content-Type: multipart/alternative; boundary="----=_NextPart_001_0009_01C1C230.661BEF10" - ------=_NextPart_001_0009_01C1C230.661BEF10 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit Thank you, Tom. Nice kickoff to a weekend of sorting. Duke -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley Sent: Saturday, March 02, 2002 6:04 PM To: canslim@lists.xmission.com Subject: [CANSLIM] Worley's Weekend Weeview ECONOMICS As just one more measure of consumer confidence levels, sales of existing homes jumped 16% to a new record. Annualized rate was 6.04 million units, expectation was for 5.2 million. However, sales of New Homes in January fell far more than expected, dropping 15% and in sharp contrast to the rise in existing home sales previously reported (up 16.2%). Seasonal adjustments may be affecting both of these results. Consumer confidence surprised analysts with a drop to 94.1 from 97.8, expected was a drop to 97.0. The level of unemployment, and its continuing effects on consumers, was blamed. Mr. Greenspan was cautiously optimistic on the economic recovery on Wednesday. His comments continue to confirm to me an extraordinarily mild "recession" (technically never happened), but with a slow recovery. The upside is that inflation remains a non-event, and any inflation fighting rate hikes are likely way off, at least well into the second half of 2002, and quite possibly not until some time in 2003. Durable Goods orders soared to 2.6% growth in January, doubling expectations of a 1.3% rise. December was revised to 0.9%. Both Personal Income and Personal Spending rose 0.4% in January. 4th quarter GDP was revised sharply higher to 1.4% from 0.2% (expectations was 0.9%), further affirming the absence of any real recession. Even assuming a recession really started in March using new growth standards, this remains one of the shortest and mildest recessions in history. Chicago's Purchasing Managers Index, which often sets the tone for the nation, not only rose for the first time in eighteen months but jumped into positive territory, climbing to 53.1 from 45.1. Expected was 47.0. And ISM (formerly NAPM) reported that their index jumped from 49.9 in December to actual expansion at 54.7 in January. First time since July 2000 that it is back over 50. - ---------------------------------------------------------------------------- - -- JAPAN Thought I might be able to stop my Japan bashing for a week. Despite all odds, and their disappointment in the lack of decisive action (or even words) in the latest anti-deflation govt proposal, the Nikkei rallied nearly 3% on their Wednesday, to finish decisively over 10K. OK, the Nikkei wins, the DOW 30 loses the race. A strong yen still wins out, but I don't trust it for long. And on Thursday, another rally over 2% as the shorters began to cover to comply with new and more restrictive rules on shorting. Didn't last, tho. A thousand point gain in a week, and I don't trust one inch of it, not a bit came from improvement in fundies, improving economy or resolution of the bad bank loans. - ---------------------------------------------------------------------------- - -- WORLEY'S WATCHLIST WANNABEES As always, Bx means a flat line "B"ase of "x" weeks duration. Should I see a specific CANSLIM pattern, such as a c&h, double bottom, or a LLUR, I will mention it. The population of stocks I am reviewing this weekend expanded sharply during the past week. ALLY - trying to build the handle on a short cup? CFFN - LLUR CHKE - B6+, declining volume CMC - B9, declining volume CUNO - B7 DCOM - B4 DF - weak double bottom DLX - LLUR FCEA - B5+ HRB - LLUR MBFI - B8, trying to b/o MBWM - B3+ MCL - volatile LLUR MFA - B7 ODP - B2+ PETM - LLUR POSS - b/o Friday on 4X ADV, in my VR fund RMCI - sharp correction on Friday, watch Monday, I own, in my VR Fund RYAN - LLUR STAR - B4 SWTX - B8, microcap, low price TASR - 7 week consolidation, microcap, in my VR fund Happy Hunting, Tom Worley stkguru@netside.net AIM: TexWorley - ------=_NextPart_001_0009_01C1C230.661BEF10 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2713.1100" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><SPAN class=3D117492102-03032002><FONT face=3DArial>Thank you, = Tom. =20 </FONT></SPAN></DIV> <DIV><SPAN class=3D117492102-03032002><FONT = face=3DArial></FONT></SPAN> </DIV> <DIV><SPAN class=3D117492102-03032002><FONT face=3DArial>Nice kickoff to = a weekend=20 of sorting.</FONT></SPAN></DIV> <DIV><SPAN class=3D117492102-03032002><FONT = face=3DArial></FONT></SPAN> </DIV> <DIV><SPAN class=3D117492102-03032002><FONT = face=3DArial>Duke</FONT></SPAN></DIV> <BLOCKQUOTE dir=3Dltr=20 style=3D"PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px = solid; MARGIN-RIGHT: 0px"> <DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT = face=3DTahoma=20 size=3D2>-----Original Message-----<BR><B>From:</B>=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Tom=20 Worley<BR><B>Sent:</B> Saturday, March 02, 2002 6:04 PM<BR><B>To:</B>=20 canslim@lists.xmission.com<BR><B>Subject:</B> [CANSLIM] Worley's = Weekend=20 Weeview<BR><BR></FONT></DIV> <DIV><FONT face=3DArial><STRONG>ECONOMICS</STRONG></FONT></DIV> <DIV><FONT face=3DArial>As just one more measure of consumer = confidence levels,=20 sales of existing homes jumped 16% to a new record. Annualized rate = was 6.04=20 million units, expectation was for 5.2 million. However, sales of New = Homes in=20 January fell far more than expected, dropping 15% and in sharp = contrast to the=20 rise in existing home sales previously reported (up 16.2%). Seasonal=20 adjustments may be affecting both of these results.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Consumer confidence surprised analysts with a = drop to=20 94.1 from 97.8, expected was a drop to 97.0. The level of = unemployment, and=20 its continuing effects on consumers, was blamed.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Mr. Greenspan was cautiously optimistic on the = economic=20 recovery on Wednesday. His comments continue to confirm to me an=20 extraordinarily mild "recession" (technically never happened), but = with a slow=20 recovery. The upside is that inflation remains a non-event, and any = inflation=20 fighting rate hikes are likely way off, at least well into the second = half of=20 2002, and quite possibly not until some time in 2003.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Durable Goods orders soared to 2.6% growth in = January,=20 doubling expectations of a 1.3% rise. December was revised to 0.9%.=20 </FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Both Personal Income and Personal Spending = rose 0.4% in=20 January.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>4th quarter GDP was revised sharply higher to = 1.4% from=20 0.2% (expectations was 0.9%), further affirming the absence of any = real=20 recession. </FONT><FONT face=3DArial>Even assuming a recession = really=20 started in March using new growth standards, this remains one of the = shortest=20 and mildest recessions in history.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Chicago's Purchasing Managers Index, which = often sets=20 the tone for the nation, not only rose for the first time in eighteen = months=20 but jumped into positive territory, climbing to 53.1 from 45.1. = Expected was=20 47.0. And ISM (formerly NAPM) reported that their index jumped = from 49.9=20 in December to actual expansion at 54.7 in January. First time since = July 2000=20 that it is back over 50.</DIV> <DIV> <HR> </DIV> <DIV><STRONG>JAPAN</STRONG></DIV> <DIV>Thought I might be able to stop my Japan bashing for a week. = Despite=20 all odds, and their disappointment in the lack of decisive action (or = even=20 words) in the latest anti-deflation govt proposal, the Nikkei rallied = nearly=20 3% on their Wednesday, to finish decisively over 10K. OK, the Nikkei = wins, the=20 DOW 30 loses the race. A strong yen still wins out, but I don't trust = it for=20 long. And on Thursday, another rally over 2% as the shorters began to = cover to=20 comply with new and more restrictive rules on shorting. Didn't last, = tho. A=20 thousand point gain in a week, and I don't trust one inch of it, not a = bit=20 came from improvement in fundies, improving economy or resolution = of=20 the bad bank loans.=20 <HR> </DIV></FONT> <DIV><FONT face=3DArial><STRONG>WORLEY'S WATCHLIST=20 WANNABEES</STRONG></FONT></DIV> <DIV><FONT face=3DArial>As always, Bx means a flat line "B"ase of "x" = weeks=20 duration. Should I see a specific CANSLIM pattern, such as a c&h, = double=20 bottom, or a LLUR, I will mention it.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>The population of stocks I am reviewing this = weekend=20 expanded sharply during the past week.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>ALLY - trying to build the handle on a short=20 cup?</FONT></DIV> <DIV><FONT face=3DArial>CFFN - LLUR</FONT></DIV> <DIV><FONT face=3DArial>CHKE - B6+, declining volume</FONT></DIV> <DIV><FONT face=3DArial>CMC - B9, declining volume</FONT></DIV> <DIV><FONT face=3DArial>CUNO - B7</FONT></DIV> <DIV><FONT face=3DArial>DCOM - B4</FONT></DIV> <DIV><FONT face=3DArial>DF - weak double bottom</FONT></DIV> <DIV><FONT face=3DArial>DLX - LLUR</FONT></DIV> <DIV><FONT face=3DArial>FCEA - B5+</FONT></DIV> <DIV><FONT face=3DArial>HRB - LLUR</FONT></DIV> <DIV><FONT face=3DArial>MBFI - B8, trying to b/o</FONT></DIV> <DIV><FONT face=3DArial>MBWM - B3+</FONT></DIV> <DIV><FONT face=3DArial>MCL - volatile LLUR</FONT></DIV> <DIV><FONT face=3DArial>MFA - B7</FONT></DIV> <DIV><FONT face=3DArial>ODP - B2+</FONT></DIV> <DIV><FONT face=3DArial>PETM - LLUR</FONT></DIV> <DIV><FONT face=3DArial>POSS - b/o Friday on 4X ADV, in my VR = fund</FONT></DIV> <DIV><FONT face=3DArial>RMCI - sharp correction on Friday, watch = Monday, I own,=20 in my VR Fund</FONT></DIV> <DIV><FONT face=3DArial>RYAN - LLUR</FONT></DIV> <DIV><FONT face=3DArial>STAR - B4</FONT></DIV> <DIV><FONT face=3DArial>SWTX - B8, microcap, low price</FONT></DIV> <DIV><FONT face=3DArial>TASR - 7 week consolidation, microcap, in my = VR=20 fund</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Happy Hunting,</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial><IMG alt=3D"" hspace=3D0 = src=3D"cid:117492102@03032002-2372"=20 align=3Dbaseline border=3D0></FONT></DIV> <DIV><FONT face=3DArial></FONT> </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></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_001_0009_01C1C230.661BEF10-- - ------=_NextPart_000_0008_01C1C230.661BEF10 Content-Type: image/gif; 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