Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 13 Apr 2002 14:46:13 -0400
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This is a multi-part message in MIME format. - ------=_NextPart_000_0371_01C1E2F9.F53C2C20 Content-Type: multipart/alternative; boundary="----=_NextPart_001_0372_01C1E2F9.F53C2C20" - ------=_NextPart_001_0372_01C1E2F9.F53C2C20 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable JAPAN How bad is the bad loan problem with their banks? Well, in their fiscal = year just ended in March, the 13 largest banks collectively wrote off a = total of 7.8 trillion yen (about $59 billion), which was up 21% from = projections just last November. Despite that, their total bad loans grew = from 20.7 trillion yen to 24-26 trillion yen. Primary reason for the = increase in bad loans was the results of an audit ongoing since last = fall, which forced more loans to be classified downward. For all banks, = the total of bad loans is estimated at 36 trillion yen, or higher. Bank of Japan upgraded its economic outlook for the second straight = month, indicating that the economy is getting worse but at a slower = rate. - -------------------------------------------------------------------------= - ------- ECONOMICS PPI jumped a full percent, above expectations of a 0.7% increase, = because of rapidly rising gas prices. But the core rate remained tame, = rising only the expected 0.1%. With Chavez now in handcuffs, Venezuela = production and exports of crude should pick up rapidly, likely going = over their OPEC quota, in order to increase cash flow and profits. Oil = prices worldwide=20 Retail sales grew 0.2%, slightly below expectations. Jobless claims remained very high at 438K, altho down from the revised = 493K of the prior week. This appears to me to reflect the influx of = "new" filers that has exhausted their unemployment benefits, but are now = eligible for the extended coverage just passed.=20 - -------------------------------------------------------------------------= - ------- FIRST QUARTER EARNINGS Next week ends the confessional season, and starts the actual earnings = reporting. First Call has estimated that overall earnings will be down = 9%, not great but much improved over last quarter's decline of 21%.=20 - -------------------------------------------------------------------------= - ------- "M" Only the Russell 2000 Index managed to show positive numbers for the = week, gaining over 3.5%. Otherwise, it was pretty dismal. - -------------------------------------------------------------------------= - ------- WORLEY'S WATCHLIST WANNABEES The population of stocks I am reviewing this weekend has increased = sharply, despite the hesitant performance of last week. As always, a Bx = means a flat line "B"ase of "x" weeks, IMO. Any CANSLIM base such as a = C&H or double bottom will be specifically mentioned, along with other = patterns such as LLUR (Lower Left Upper Right).=20 AMZ - B2+ CHH - B4 DFXI - c&h?? EXPE - B3 FDP - LLUR FRED - LLUR GAP - B7 GLG - LLUR MCL - LLUR NWRE - 5 week consolidation, in my VR Fund PETM - LLUR RACN - early stage LLUR RAH - LLUR? RGIS - LLUR? RYAN - volatile LLUR Happy hunting, Tom Worley stkguru@bellsouth.net AIM: TexWorley - ------=_NextPart_001_0372_01C1E2F9.F53C2C20 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 6.00.2715.400" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3DArial><STRONG>JAPAN</STRONG></FONT></DIV> <DIV><FONT face=3DArial></FONT><FONT face=3DArial>How bad is the bad = loan problem=20 with their banks? Well, in their fiscal year just ended in March, the 13 = largest=20 banks collectively wrote off a total of 7.8 trillion yen (about $59 = billion),=20 which was up 21% from projections just last November. Despite that, = their total=20 bad loans grew from 20.7 trillion yen to 24-26 trillion yen. Primary = reason for=20 the increase in bad loans was the results of an audit ongoing since last = fall,=20 which forced more loans to be classified downward. For all banks, the = total of=20 bad loans is estimated at 36 trillion yen, or higher.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Bank of Japan upgraded its economic outlook for = the second=20 straight month, indicating that the economy is getting worse but at a = slower=20 rate.</DIV> <DIV> <HR> </DIV> <DIV><STRONG>ECONOMICS</STRONG></DIV> <DIV>PPI jumped a full percent, above expectations of a 0.7% increase, = because=20 of rapidly rising gas prices. But the core rate remained tame, rising = only the=20 expected 0.1%. With Chavez now in handcuffs, Venezuela production and = exports of=20 crude should pick up rapidly, likely going over their OPEC quota, in = order to=20 increase cash flow and profits. Oil prices worldwide </DIV> <DIV> </DIV> <DIV>Retail sales grew 0.2%, slightly below expectations.</DIV> <DIV> </DIV> <DIV>Jobless claims remained very high at 438K, altho down from the = revised 493K=20 of the prior week. This appears to me to reflect the influx of "new" = filers that=20 has exhausted their unemployment benefits, but are now eligible for the = extended=20 coverage just passed.=20 <HR> </DIV> <DIV><STRONG>FIRST QUARTER EARNINGS</STRONG></DIV> <DIV>Next week ends the confessional season, and starts the actual = earnings=20 reporting. First Call has estimated that overall earnings will be down = 9%, not=20 great but much improved over last quarter's decline of 21%. </DIV> <DIV> <HR> </DIV> <DIV><STRONG>"M"</STRONG></DIV> <DIV>Only the Russell 2000 Index managed to show positive numbers for = the week,=20 gaining over 3.5%. Otherwise, it was pretty dismal.</DIV> <DIV> <HR> </DIV></FONT> <DIV><FONT face=3DArial><STRONG>WORLEY'S WATCHLIST = WANNABEES</STRONG></FONT></DIV> <DIV><FONT face=3DArial>The population of stocks I am reviewing this = weekend has=20 increased sharply, despite the hesitant performance of last week. As = always, a=20 Bx means a flat line "B"ase of "x" weeks, IMO. Any CANSLIM base such as=20 a C&H or double bottom will be specifically mentioned, = along with=20 other patterns such as LLUR (Lower Left Upper Right). </FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>AMZ - B2+</FONT></DIV> <DIV><FONT face=3DArial>CHH - B4</FONT></DIV> <DIV><FONT face=3DArial>DFXI - c&h??</FONT></DIV> <DIV><FONT face=3DArial>EXPE - B3</FONT></DIV> <DIV><FONT face=3DArial>FDP - LLUR</FONT></DIV> <DIV><FONT face=3DArial>FRED - LLUR</FONT></DIV> <DIV><FONT face=3DArial>GAP - B7</FONT></DIV> <DIV><FONT face=3DArial>GLG - LLUR</FONT></DIV> <DIV><FONT face=3DArial>MCL - LLUR</FONT></DIV> <DIV><FONT face=3DArial>NWRE - 5 week consolidation, in my VR = Fund</FONT></DIV> <DIV><FONT face=3DArial>PETM - LLUR</FONT></DIV> <DIV><FONT face=3DArial>RACN - early stage LLUR</FONT></DIV> <DIV><FONT face=3DArial>RAH - LLUR?</FONT></DIV> <DIV><FONT face=3DArial>RGIS - LLUR?</FONT></DIV> <DIV><FONT face=3DArial>RYAN - volatile LLUR</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Happy hunting,</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><IMG alt=3D"" hspace=3D0 = src=3D"cid:037001c1e31b$7c4b5b20$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> - ------=_NextPart_001_0372_01C1E2F9.F53C2C20-- - ------=_NextPart_000_0371_01C1E2F9.F53C2C20 Content-Type: image/gif; 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