[CANSLIM] Worley's Weekend Weeview

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 18 May 2002 13:51:17 -0400
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EMPLOYMENT
The picture looks better for Q3, with 27% of companies reporting they =
expect to increase employment while only 8% report cuts planned. The =
rest indicated either maintaining present levels, or did not know their =
plans. This is a 14% increase in hiring activity compared to the first =
two quarters.

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ECONOMICS
CPI (Consumer Price Index) rose stronger than expected, up 0.5% against =
an expectation of 0.4%. More significantly, excluding the often volatile =
food and energy components, the "core" rate rose 0.3% while expectations =
were for only 0.1%.

Industrial production continued to show strength, rising another 0.4% =
after a 0.5% rise in March. And despite that, inventories continued to =
decline in March by 0.3% (expectations for 0.2% decline) for the 14th =
straight month. Capacity Utilization rose 0.2 to 75.5%, but just missing =
expectations of 75.6.

New housing starts fell 5.4% in April, while new building permits rose =
0.3%, above expectations.

Book to bill ratio for chip makers a nice 1.20, fifth month in a row =
it's been up.

Trade deficit surprised with a decline of 0.4% as exports grew faster =
than imports, despite the highest price increase in imported oil in 12 =
years. The oil bill alone was up 15.7%.

University of Michigan Consumer Sentiment for early May showed strength, =
jumping to 96.0. Expectations were for it to remain unchanged at 93.0.

A strong 60% of the companies in the S&P 500 beat analysts expectations =
for the first quarter, while another 24% met expectations. earnings =
dropped 11.6% year over year (fifth quarterly drop and longest since =
1969-1979). But analysts are expecting earnings growth of 7.5% for Q2, =
26.8% for Q3, and 39.7% for Q4. Even with this rapid growth, PE ratios =
are already unusually high.=20

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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.=20

The population of stocks I am reviewing this weekend slid further this =
past week, despite NASDAQ gaining 8.8% for the week (biggest weekly gain =
since the week ending April 20, 2001).

ABCO - B2+
AMSG - consolidating gains, at pivot
AXL - young LLUR?
BBI - B3
BEL - B4
BIO - b/o Friday on average volume
CAKE - B5+
CBH - B5
COH - LLUR
CVH - B3
DKWD - ragged LLUR
DLTR - B3 trending up
FCN - LLUR
GFF - LLUR
HTHR - B6
JNC - LLUR
LION - B4
MCL - B4
MHK    - 10 week c&h, b/o Friday less than 2X ADV
MNC - c&h
MYG - B6
OCAS - LLUR
PETM - LLUR
PNWB - B2
PSTI - B3+, in my VR Fund
PTV - volatile LLUR
PXXI - close to the pivot, volume down, in my VR Fund
RAH - LLUR
RGIS - LLUR
ROST - LLUR
RPM - more volatile LLUR
SHRP - B4
SONC - LLUR
SRCL - B2+
SSNC - B4
TRI - B3+
USPI - B2+
WMGI - B2+
WSM - B3

Happy Hunting,


Tom Worley
stkguru@bellsouth.net
AIM: TexWorley

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<HTML><HEAD>
<META http-equiv=3DContent-Type content=3D"text/html; =
charset=3Diso-8859-1">
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<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial><STRONG>EMPLOYMENT</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>The picture looks better for Q3, with 27% of =
companies=20
reporting they expect to increase employment while only 8% report cuts =
planned.=20
The rest indicated either maintaining present levels, or did not know =
their=20
plans. This is a 14% increase in hiring activity compared to the first =
two=20
quarters.</DIV>
<DIV>
<HR>
</DIV>
<DIV><STRONG>ECONOMICS</STRONG></DIV>
<DIV>CPI (Consumer Price Index) rose stronger than expected, up 0.5% =
against an=20
expectation of 0.4%. More significantly, excluding the often volatile =
food and=20
energy components, the "core" rate rose 0.3% while expectations were for =
only=20
0.1%.</DIV>
<DIV>&nbsp;</DIV>
<DIV>Industrial production continued to show strength, rising another =
0.4% after=20
a 0.5% rise in March. And despite that, inventories continued to decline =
in=20
March by 0.3% (expectations for 0.2% decline) for the 14th straight =
month.=20
Capacity Utilization rose 0.2 to 75.5%, but just missing expectations of =

75.6.</DIV>
<DIV>&nbsp;</DIV>
<DIV>New housing starts fell 5.4% in April, while new building permits =
rose=20
0.3%, above expectations.</DIV>
<DIV>&nbsp;</DIV>
<DIV>Book to bill ratio for chip makers a nice 1.20, fifth month in a =
row it's=20
been up.</DIV>
<DIV>&nbsp;</DIV>
<DIV>Trade deficit surprised with a decline of 0.4% as exports grew =
faster than=20
imports, despite the highest price increase in imported oil in 12 years. =
The oil=20
bill alone was up 15.7%.</DIV>
<DIV>&nbsp;</DIV>
<DIV>University of Michigan Consumer Sentiment for early May showed =
strength,=20
jumping to 96.0. Expectations were for it to remain unchanged at =
93.0.</DIV>
<DIV>&nbsp;</DIV>
<DIV>A&nbsp;strong 60% of the companies in the S&amp;P 500 beat analysts =

expectations for the first quarter, while another 24% met expectations. =
earnings=20
dropped 11.6% year over year (fifth quarterly drop and longest since =
1969-1979).=20
But analysts are expecting earnings growth of 7.5% for Q2, 26.8% for Q3, =
and=20
39.7% for Q4. Even with this rapid growth, PE ratios are already =
unusually high.=20
</DIV>
<DIV>
<HR>
</DIV>
<DIV>
<DIV><STRONG>WORLEY'S WATCHLIST WANNABES</STRONG></DIV>
<DIV>As always, I will mention specific basing formations, such as =
c&amp;h,=20
double bottoms, or non-CANSLIM ones like LLUR (Lower Left Upper Right) =
or flat=20
line bases (marked as Bx where x indicates the number of weeks IMO). =
Most stocks=20
in this list will have both RS and EPS of 80 or better, and be close to =
their 12=20
month high. I try to glance at the earnings forecast, and eliminate any =
less=20
than 20% for this year, but do no other due diligence.=20
<DIV>&nbsp;</DIV>
<DIV>The population of stocks I am reviewing this weekend&nbsp;slid =
further this=20
past week, despite NASDAQ gaining 8.8% for the week (biggest weekly gain =
since=20
the week ending April 20, 2001).</DIV>
<DIV>&nbsp;</DIV>
<DIV>ABCO - B2+</DIV>
<DIV>AMSG - consolidating gains, at pivot</DIV>
<DIV>AXL - young LLUR?</DIV>
<DIV>BBI - B3</DIV>
<DIV>BEL - B4</DIV>
<DIV>BIO - b/o Friday on average volume</DIV>
<DIV>CAKE - B5+</DIV>
<DIV>CBH - B5</DIV>
<DIV>COH - LLUR</DIV>
<DIV>CVH - B3</DIV>
<DIV>DKWD - ragged LLUR</DIV>
<DIV>DLTR - B3 trending up</DIV>
<DIV>FCN - LLUR</DIV>
<DIV>GFF - LLUR</DIV>
<DIV>HTHR - B6</DIV>
<DIV>JNC - LLUR</DIV>
<DIV>LION - B4</DIV>
<DIV>MCL - B4</DIV>
<DIV>MHK&nbsp;&nbsp;&nbsp; - 10 week c&amp;h, b/o Friday less than 2X =
ADV</DIV>
<DIV>MNC - c&amp;h</DIV>
<DIV>MYG - B6</DIV>
<DIV>OCAS - LLUR</DIV>
<DIV>PETM - LLUR</DIV>
<DIV>PNWB - B2</DIV>
<DIV>PSTI - B3+, in my VR Fund</DIV>
<DIV>PTV - volatile LLUR</DIV>
<DIV>PXXI - close to the pivot, volume down, in my VR Fund</DIV>
<DIV>RAH - LLUR</DIV>
<DIV>RGIS - LLUR</DIV>
<DIV>ROST - LLUR</DIV>
<DIV>RPM - more volatile LLUR</DIV>
<DIV>SHRP - B4</DIV>
<DIV>SONC - LLUR</DIV>
<DIV>SRCL - B2+</DIV>
<DIV>SSNC - B4</DIV>
<DIV>TRI - B3+</DIV>
<DIV>USPI - B2+</DIV>
<DIV>WMGI - B2+</DIV>
<DIV>WSM - B3</DIV>
<DIV>&nbsp;</DIV></DIV></DIV>
<DIV>Happy Hunting,</DIV>
<DIV>&nbsp;</DIV>
<DIV><IMG alt=3D"" hspace=3D0 =
src=3D"cid:049d01c1fe94$9c59a4a0$9300a8c0@TOMSBOX"=20
align=3Dbaseline border=3D0></DIV>
<DIV></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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