[CANSLIM] Worley's Weekend Weeview

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 6 Apr 2002 12:42:06 -0500
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ECONOMICS
Manufacturing Activity - second month in a row it grew, notably new =
orders jumped to 65.3 from 62.8, highest since Oct 1986! Overall, index =
rose to 55.6 from 54.7 in February, continuing the economic expansion =
trend. The employment figure also crept closer to an expansion figure of =
50.

Big concern was the price index, which also soared from 41.5 to 51.9, =
but appeared to be congregated in a limited number of items.

Construction Projects - spending grew 1.1% to an annual rate of $879 =
billion in Feb after rising 0.8% in Jan. Expectations was for a repeat =
of the 0.8% figure.

GDP for first quarter - now looking like it could exceed 4%=20

Overall manufacturing for February slipped 0.1% against an expectation =
of a 1.0% rise due to a 2.4% drop in non durable goods. Durable goods, =
however, rose 1.8%. Inventories continued to drop another 0.4%.

The OECD (Organization for Economic Cooperation and Development) report =
showed global economic growth, as their Composite Leading Indicator rose =
from 114.4 to 115.3. However, both Japan and Germany data suggested they =
will lag the rest of the world in recovery. The six month rate of change =
for Japan fell for the first time in six months and dropped 0.3 points =
for February. For Germany, the CLI dropped 0.1 points altho the six =
month rate of change still improved. For the USA, the CLI gained 1.9 =
points to 119.7 and the six month gained for the fourth consecutive =
month.

Weekly Unemployment surged to 460K from an upwardly revised 396K in the =
prior week. Expectation was for a drop to 380K. Speculation is that the =
unexpected increase was because of new filers now eligible for the =
extended benefits.

Employment report for March -  Overall, a rise to 5.7%, slightly above =
expectations. Jobs created at 58K, in line with expectations of 60K. =
Unexpected, however, was that February's jobs creation was revised down =
so sharply that it went to a negative 2K from a decent positive #. =
Likely this will keep the Feds from hiking rates at the May meeting, at =
least.

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

JAPANESE SHORT SELLING
The Japan Securities Dealers Assn announced that it also will begin =
reporting short selling data starting this month. The Tokyo did the same =
on Wednesday. The Jasdaq data will be posted on the 20th for the prior =
month at JDSA's website http://www.jasdaq.co.jp - of course, I am not =
sure how useful this will be now, as they have placed many restrictions =
on short selling over the past months. Maybe that's why they waited so =
long to begin reporting?=20
- -------------------------------------------------------------------------=
- -------

WORLEY'S WATCHLIST WANNABES
As always, a Bx means a flat line "B"ase of "x" weeks, IMO. If I see =
other valid CANSLIM basing patterns, such as a c&h, double bottom, or a =
LLUR (Lower Left Upper Right), I will say so. Unless noted, stocks =
appearing here have met the 80/80 rule for RS and EPS.

ACDO - holding the b/o from a consolidation base, strong earnings =
forecast
ACS - base forming on the handle of a decent cup?
ATAC - handle forming on a shallow cup
BIO - stealth b/o from a B3
BOBE - 9 week saucer
FO - B2+
GAP - for those liking boring big cap stocks, this B4 may be of interest =
with strong earnings forecast on flat sales
GBBK - B4
GYMB - B3
ICBC - B5
IFF - B5
ODP - B5
PETM - LLUR
POSS - B5
PTV - B5
PXXI - B3, microcap
RAH - B5
RGIS - B3
SVU - LLUR, a new one, this time with 29% earnings growth forecast
SYPR - a more volatile LLUR
TASR - volatile LLUR, owned and in my VR Fund, micro cap
WDFC - long consolidation

Happy hunting,


Tom Worley
stkguru@bellsouth.net
AIM: TexWorley

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<HTML><HEAD>
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charset=3Diso-8859-1">
<META content=3D"MSHTML 6.00.2715.400" name=3DGENERATOR>
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<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial><STRONG>ECONOMICS</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>Manufacturing Activity - second month in a row =
it grew,=20
notably new orders jumped to 65.3 from 62.8, highest since Oct 1986! =
Overall,=20
index rose to 55.6 from 54.7 in February, continuing the economic =
expansion=20
trend. The employment figure also crept closer to an expansion figure of =

50.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Big concern was the price index, which also =
soared from=20
41.5 to 51.9, but appeared to be congregated in a limited number of=20
items.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Construction Projects - spending grew 1.1% to an =
annual=20
rate of $879 billion in Feb after rising 0.8% in Jan. Expectations was =
for a=20
repeat of the 0.8% figure.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>GDP for first quarter - now looking like it =
could exceed=20
4% </FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Overall manufacturing for February slipped 0.1% =
against an=20
expectation of a 1.0% rise due to a 2.4% drop in non durable goods. =
Durable=20
goods, however, rose 1.8%. Inventories continued to drop another=20
0.4%.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>The OECD (Organization for Economic Cooperation =
and=20
Development) report showed global economic growth, as =
their&nbsp;Composite=20
Leading Indicator&nbsp;rose from 114.4 to 115.3. However, both Japan and =
Germany=20
data suggested they will lag the rest of the world in recovery. The six =
month=20
rate of change for Japan fell for the first time in six months and =
dropped 0.3=20
points&nbsp;for February. For Germany, the CLI dropped 0.1 =
points&nbsp;altho the=20
six month rate of change still improved. For the USA, the CLI gained 1.9 =
points=20
to 119.7&nbsp;and the six month gained for the fourth consecutive=20
month.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Weekly Unemployment surged to 460K from an =
upwardly=20
revised 396K in the prior week. Expectation was for a drop to 380K. =
Speculation=20
is that the unexpected increase was because of new filers now eligible =
for the=20
extended benefits.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Employment report for March - &nbsp;Overall, a =
rise to=20
5.7%, slightly above expectations. Jobs created at 58K, in line with=20
expectations of 60K. Unexpected, however, was that February's jobs =
creation was=20
revised down so sharply that it went to a negative 2K from a decent =
positive #.=20
Likely this will keep the Feds from hiking rates at the May meeting, at=20
least.</DIV>
<DIV>
<HR>
</DIV></FONT>
<DIV><FONT face=3DArial><STRONG>JAPANESE SHORT =
SELLING</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>The Japan Securities Dealers Assn announced that =
it also=20
will begin reporting short selling data starting this month. The Tokyo =
did the=20
same on Wednesday. The Jasdaq data will be posted on the 20th for the =
prior=20
month at JDSA's website </FONT><FONT face=3D"Times New Roman"><A=20
href=3D"http://www.jasdaq.co.jp">http://www.jasdaq.co.jp</A> - <FONT =
face=3DArial>of=20
course, I am not sure how useful this will be now, as</FONT> <FONT=20
face=3DArial>they have placed many restrictions on short selling over =
the past=20
months. Maybe that's why they waited so long to begin reporting?</FONT>=20
<HR>
</FONT></DIV>
<DIV><FONT face=3DArial>WORLEY'S WATCHLIST WANNABES</FONT></DIV>
<DIV><FONT face=3DArial>As always, a Bx means a flat line "B"ase of "x" =
weeks,=20
IMO. If I see other valid CANSLIM basing patterns, such as a c&amp;h, =
double=20
bottom, or a LLUR (Lower Left Upper Right), I will say so. Unless noted, =
stocks=20
appearing here have met the 80/80 rule for RS and EPS.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>ACDO - holding the b/o from a consolidation =
base, strong=20
earnings forecast</FONT></DIV>
<DIV><FONT face=3DArial>ACS - base forming on the handle of a decent=20
cup?</FONT></DIV>
<DIV><FONT face=3DArial>ATAC - handle forming on a shallow =
cup</FONT></DIV>
<DIV><FONT face=3DArial>BIO - stealth b/o from a B3</FONT></DIV>
<DIV><FONT face=3DArial>BOBE - 9 week saucer</FONT></DIV>
<DIV><FONT face=3DArial>FO - B2+</FONT></DIV>
<DIV><FONT face=3DArial>GAP - for those liking boring big cap stocks, =
this B4 may=20
be of interest with strong earnings forecast on flat sales</FONT></DIV>
<DIV><FONT face=3DArial>GBBK - B4</FONT></DIV>
<DIV><FONT face=3DArial>GYMB - B3</FONT></DIV>
<DIV><FONT face=3DArial>ICBC - B5</FONT></DIV>
<DIV><FONT face=3DArial>IFF - B5</FONT></DIV>
<DIV><FONT face=3DArial>ODP - B5</FONT></DIV>
<DIV><FONT face=3DArial>PETM - LLUR</FONT></DIV>
<DIV><FONT face=3DArial>POSS - B5</FONT></DIV>
<DIV><FONT face=3DArial>PTV - B5</FONT></DIV>
<DIV><FONT face=3DArial>PXXI - B3, microcap</FONT></DIV>
<DIV><FONT face=3DArial>RAH - B5</FONT></DIV>
<DIV><FONT face=3DArial>RGIS - B3</FONT></DIV>
<DIV><FONT face=3DArial>SVU - LLUR, a new one, this time with 29% =
earnings growth=20
forecast</FONT></DIV>
<DIV><FONT face=3DArial>SYPR - a more volatile LLUR</FONT></DIV>
<DIV><FONT face=3DArial>TASR - volatile LLUR, owned and in my VR Fund, =
micro=20
cap</FONT></DIV>
<DIV><FONT face=3DArial>WDFC - long consolidation</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:019a01c1dd92$5e885040$9300a8c0@TOMSBOX" align=3Dbaseline=20
border=3D0></FONT></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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