[CANSLIM] Worley's Weekend Weeview

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 23 Mar 2002 17:34:43 -0500
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FOMC
The Feds met on Tuesday, and as expected shifted the bias from recession =
fighting to neutral. Nonetheless, there was still the 10% that hadn't =
got the word, or refused to believe the signs, and sold as if this news =
was a surprise. I have already seen considerable talk of the Feds =
beginning to raise rates as early as the May meeting, but so far see =
little evidence to support this. While rate hikes may happen before the =
end of 2002, I see no reason to believe they will start until after the =
June meeting, at the earliest. Now, if they shifted all the way to =
inflation fighting, THAT would have been a surprise. We're still =
recovering from a recession, the Feds won't upset the apple cart, at =
least not yet.
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- -------

HWP / CPQ
Gee, this is almost like a Presidential election in Florida. HP claims =
victory, will own Compaq, with a 0.5% victory margin. Walter Hewlett, =
leading the HP family's opposition to the merger, says a recount will =
turn victory into defeat for HP's management. Love those hanging chaffs, =
let's turn a boring merger vote into front page news, and keep it there =
for a few days, or even a few weeks. Of course, no one has yet figured =
out whether this "merger of giants" will actually allow them to: a) =
compete against IBM; b) achieve any synergy of customer base; c) achieve =
any production efficiency or cost savings; d) build a better product =
that can compete better in either the printer or PC box market.

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

TRADE DEFICIT
Widened again, to $28.5 billion, up 15% from December. Year 2001 was the =
first annual decline in six years, but rising price of oil will likely =
weaken Q1 GDP.=20
- -------------------------------------------------------------------------=
- -------

ECONOMICS
New housing starts jumped 2.8% in February, biggest gain in over three =
years and well above expectations. Single family home construction =
jumped 7.4%, biggest gain in over 23 years. Building permits also rose =
1.8% and over expectations.=20

CPI - Index rose 0.2% overall as expected, but the core rose 0.3%, =
slightly over expectations.

NEW UNEMPLOYMENT CLAIMS - Fell to 371K from a revised 383K, expected was =
375K. This continues to support the view that the economy is stronger, =
and recovering faster, that the Feds perceive, and could lead to rate =
hikes sooner rather than later.

LEADING INDICATORS - Unchanged, expected was a rise of 0.1

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- -------

WORLEY'S WATCHLIST WANNABES
Population of stocks under review this weekend somewhat reduced. As =
always, a "Bx" means a flat line "B"ase of "x" weeks duration, IMO. I =
will mention other specific formations, such as c&h, double bottom and =
LLUR.

AAON - stealth (low vol) b/o from B3
ACDO - 7 week consolidation base, huge earnings growth and 5 year rate
ACS - decent c&h for a former LLUR
AVD - LLUR, may be breaking its pattern upward
DCOM - LLUR
DLX - LLUR
FRED - volatile LLUR
FRS - B4
NWRE - B2, low priced micro cap
ODP - B5+
PENN - B4
PETM - LLUR
PSTI - B3, in my VR Fund
SYPR - 10 week consolidation, in my VR Fund
TASR - volatile 10 week consolidation base, in my VR Fund

Happy Hunting,



Tom Worley
stkguru@bellsouth.net
AIM: TexWorley

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<DIV><FONT face=3DArial><STRONG>FOMC</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>The Feds met on Tuesday, and as expected shifted =
the bias=20
from recession fighting to neutral. Nonetheless, there was still the 10% =
that=20
hadn't got the word, or refused to believe the signs, and sold as if =
this news=20
was a surprise. I have already seen considerable talk of the Feds =
beginning to=20
raise rates as early as the May meeting, but so far see little evidence =
to=20
support this. While rate hikes may happen before the end of 2002, I see =
no=20
reason to believe they will start until after the June meeting, at the =
earliest.=20
Now, if they&nbsp;shifted all the way to inflation fighting, THAT would =
have=20
been a surprise. We're still recovering from a recession, the Feds won't =
upset=20
the apple cart, at least not yet.</FONT>
<HR>
</DIV>
<DIV><FONT face=3DArial><STRONG>HWP / CPQ</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>Gee, this is almost like a Presidential election =
in=20
Florida. HP claims victory, will own Compaq, with a 0.5% victory margin. =
Walter=20
Hewlett, leading the HP family's opposition to the merger, says a =
recount will=20
turn victory into defeat for HP's management. Love those hanging chaffs, =
let's=20
turn a boring merger vote into front page news, and keep it there for a =
few=20
days, or even a few weeks. Of course, no one has yet figured out whether =
this=20
"merger of giants" will actually allow them to: a) compete against IBM; =
b)=20
achieve any synergy of customer base; c) achieve any production =
efficiency or=20
cost savings; d) build a better product that can compete better in =
either the=20
printer or PC box market.</DIV>
<DIV>
<HR>
</DIV>
<DIV><STRONG>TRADE DEFICIT</STRONG></DIV>
<DIV>Widened again, to $28.5 billion, up 15% from December. Year 2001 =
was the=20
first annual decline in six years, but rising price of oil will likely =
weaken Q1=20
GDP.=20
<HR>
</DIV></FONT>
<DIV><FONT face=3DArial><STRONG>ECONOMICS</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>New housing starts jumped 2.8% in February, =
biggest gain=20
in over three years and well above expectations. Single family home =
construction=20
jumped 7.4%, biggest gain in over 23 years. Building permits also rose =
1.8% and=20
over expectations. </FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial><STRONG>CPI </STRONG>- </FONT><FONT =
face=3DArial>Index rose=20
0.2% overall as expected, but the core rose 0.3%, slightly over=20
expectations.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial><STRONG>NEW UNEMPLOYMENT CLAIMS - =
</STRONG></FONT><FONT=20
face=3DArial>Fell to 371K from a revised 383K, expected was 375K. This =
continues=20
to support the view that the economy is stronger, and recovering faster, =
that=20
the Feds perceive, and could lead to rate hikes sooner rather than=20
later.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial><STRONG>LEADING INDICATORS - =
</STRONG></FONT><FONT=20
face=3DArial>Unchanged, expected was a rise of 0.1</DIV>
<DIV>
<HR>
</DIV></FONT>
<DIV><FONT face=3DArial><STRONG>WORLEY'S WATCHLIST =
WANNABES</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>Population of stocks under review this weekend =
somewhat=20
reduced. As always, a "Bx" means a flat line "B"ase of "x" weeks =
duration, IMO.=20
I will mention other specific formations, such as c&amp;h, double bottom =
and=20
LLUR.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>AAON - stealth (low vol) b/o from =
B3</FONT></DIV>
<DIV><FONT face=3DArial>ACDO - 7 week consolidation base, huge earnings =
growth and=20
5 year rate</FONT></DIV>
<DIV><FONT face=3DArial>ACS - decent c&amp;h for a former =
LLUR</FONT></DIV>
<DIV><FONT face=3DArial>AVD - LLUR, may be breaking its pattern=20
upward</FONT></DIV>
<DIV><FONT face=3DArial>DCOM - LLUR</FONT></DIV>
<DIV><FONT face=3DArial>DLX - LLUR</FONT></DIV>
<DIV><FONT face=3DArial>FRED - volatile LLUR</FONT></DIV>
<DIV><FONT face=3DArial>FRS - B4</FONT></DIV>
<DIV><FONT face=3DArial>NWRE - B2, low priced micro cap</FONT></DIV>
<DIV><FONT face=3DArial>ODP - B5+</FONT></DIV>
<DIV><FONT face=3DArial>PENN - B4</FONT></DIV>
<DIV><FONT face=3DArial>PETM - LLUR</FONT></DIV>
<DIV><FONT face=3DArial>PSTI - B3, in my VR Fund</FONT></DIV>
<DIV><FONT face=3DArial>SYPR - 10 week consolidation, in my VR =
Fund</FONT></DIV>
<DIV><FONT face=3DArial>TASR - volatile 10 week consolidation base, 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></FONT>&nbsp;</DIV>
<DIV><IMG alt=3D"" hspace=3D0 =
src=3D"cid:007f01c1d2ba$ed767d00$9300a8c0@TOMSBOX"=20
align=3Dbaseline border=3D0></DIV>
<DIV><FONT face=3DArial>Tom Worley<BR></FONT><A=20
href=3D"mailto:stkguru@bellsouth.net"><FONT=20
face=3DArial>stkguru@bellsouth.net</FONT></A><BR><FONT face=3DArial>AIM: =

TexWorley</FONT></DIV></BODY></HTML>

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