Re: [CANSLIM] Worley's Weekend Weeview

From: Bill Wasson <billwa24@yahoo.com>
Subject: Re: [CANSLIM] Worley's Weekend Weeview
Date: Sun, 5 May 2002 10:41:48 -0700 (PDT)

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Thanks for your sharing.

*******************************************************
- --- Tom Worley <stkguru@bellsouth.net> wrote:
> KINDA ECONOMICS
> Consumers hit a five year high with late payments on
> credit cards. Losses from uncollectable debt hit an
> 11 year high (maybe why EPIQ starting to perk up a
> little, bankruptcy cases are not going away). But
> growth in credit card debt slowed sharply in the
> first two months, apparently as many took advantage
> of low home equity loans and mortgage rates to
> refinance and pay off high interest rate cards. 
>
- --------------------------------------------------------------------------------
> 
> REAL ECONOMICS
> Both personal spending and personal savings grew by
> 0.4% in March, about even with expectations, and
> below February's level.
> 
> Consumer confidence fell to 108.8 in March from a
> revised 110.7 in Feb, but still ahead of
> expectations of 107.5. Perception of current
> economic conditions was the primary cause for the
> slide, but future expectations remained virtually
> unchanged.
> 
> Orders for goods made in USA for February was
> revised upward from negative, to a positive 0.2%,
> while the initial report for March came in at plus
> 0.4%. Expectations were for an "unchanged" March
> report.
> 
> Well, months ago they said it would happen, and it
> did. Unemployment hits 6%, expectations were for a
> rise to 5.8% from 5.7%. Not that much of a surprise,
> given the recent rise in job cuts announcements. And
> that's with a gain of 43,000 new jobs (expectations
> were for a gain of 60K). People are coming back into
> the labor pool faster than jobs are being created,
> simply put. Likely that the unemployment rate will
> rise even higher as this slow growth economy chugs
> along.
> 
>
- --------------------------------------------------------------------------------
> 
> WORLEY'S WATCHLIST WANNABES
> As always, I will mention specific basing
> formations, such as c&h, double bottoms, or
> non-CANSLIM ones like LLUR (Lower Left Upper Right)
> or flat line bases (marked as Bx where x indicates
> the number of weeks IMO). Most stocks in this list
> will have both RS and EPS of 80 or better, and be
> close to their 12 month high. I try to glance at the
> earnings forecast, and eliminate any less than 20%
> for this year, but do no other due diligence. 
> 
> The population of stocks I am reviewing this weekend
> exceeds 300 and appears stable in numbers. While
> most stocks making this review are well extended,
> more are now showing up making a short flat line
> base, or the LLUR pattern is emerging.
> 
> AG - trying to break thru resistance at the pivot of
> 23.70, boring company, great earnings forecast
> AMSG - long saucer?
> CTSH - c&h
> FCFS - B2
> FFFL - LLUR??
> FRED - LLUR
> GFF - LLUR
> GLG - LLUR
> GTK - B3
> HET - B2
> IMN - B3
> JILL - B3
> JJSF - B3+
> LE - continues to try to break thru resistance, lot
> of insider selling
> MCL - steep LLUR
> MHK - nice c&h, 2 week handle, volume dropping
> nicely
> MTH - nice consolidation
> NDN - b/o from decent c&h on volume, past pivot,
> within 5%
> OCAS - LLUR
> OCLR - B2, smooth chart
> PCIS - ragged cup, strong earnings forecast
> PETM - LLUR continues, strong earnings forecast for
> '03
> PORT - LLUR
> RAH - LLUR
> RYAN - LLUR
> SVU - LLUR?
> TASR - microcap, consolidation base, own and in my
> VR Fund, EPS 79
> WGO - B4-
> 
> Happy Hunting,
> 
> 
> Tom Worley
> stkguru@bellsouth.net
> AIM: TexWorley
> 


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