Re: [CANSLIM] Worley's Weekend Weeview

From: larry l worden <worden33@juno.com>
Subject: Re: [CANSLIM] Worley's Weekend Weeview
Date: Tue, 5 Mar 2002 11:10:38 -0800
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Tom, what does CAT and RAT stand for? I have been trying to figure it out
for some time. Thanks for the weekly posts. When ever you have time.     
   Larry

On Sat, 2 Mar 2002 18:03:50 -0500 "Tom Worley" <stkguru@netside.net>
writes:
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
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<DIV>Tom, what does CAT and RAT stand for? I have been trying to figure it =
out=20
for some time. Thanks for the weekly posts. When ever you have=20
time.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Larry</DIV>
<DIV>&nbsp;</DIV>
<DIV>On Sat, 2 Mar 2002 18:03:50 -0500 "Tom Worley" &lt;<A=20
href=3D"mailto:stkguru@netside.net">stkguru@netside.net</A>&gt; writes:</=
DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-LEFT: 10px; MARGIN-LEFT: 10px; BORDER-LEFT: #000000 2px =
solid">
  <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>&nbsp;</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>&nbsp;</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>&nbsp;</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>&nbsp;</DIV>
  <DIV><FONT face=3DArial>Both Personal Income and Personal Spending rose 0=
.4% in=20
  January.</FONT></DIV>
  <DIV><FONT face=3DArial></FONT>&nbsp;</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.&nbsp;</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>&nbsp;</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.&nbsp;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&nbsp;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&nbsp;or resolution of=
=20
  the&nbsp;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&amp;h, =
double=20
  bottom, or a LLUR, I will mention it.</FONT></DIV>
  <DIV><FONT face=3DArial></FONT>&nbsp;</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>&nbsp;</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>&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:003301c1c23e$8452bbe0$30a08fd0@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>
  <DIV>&nbsp;</DIV></BLOCKQUOTE></BODY></HTML>

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