Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sun, 26 May 2002 08:09:00 -0400
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This is a multi-part message in MIME format. - ------=_NextPart_000_0026_01C2048C.978D7D40 Content-Type: multipart/alternative; boundary="----=_NextPart_001_0027_01C2048C.978D7D40" - ------=_NextPart_001_0027_01C2048C.978D7D40 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable work demands and stress kept my focus off the market this past week, but = will still try to recap some events ECONOMICS Durable goods orders rose 1.1%, eclipsing expectations of 0.5% growth = and far exceeding the 0.2% gain in March (originally reported as a 0.6% = decline, trend of revisions important). Even excluding the volatile = transportation and defense orders, the numbers still looked strong. And = computers and electronics were up 2.5% New unemployment claims continued to slip, but remained above 400K. = Labor is still unable to quantify how much of this is new claims, and = how much is "refilers", who are now eligible under recent changes in = benefits. GDP for Q1 revised downward from 5.8% to 5.6%, expectations were for an = increase to 6%. Still, far surpasses the 1.7% growth in Q4 last year. Meanwhile, new home sales jumped 1% to an annual rate of 915K. = Expectations were for a rate of 885K. Inventories continued to shrink for the 16th consecutive quarter, but at = a far slower rate. Inventory shrinkage has bottomed, or reversed, for = most industries. Corporate profits rose 0.9% in Q1 compared to a drop of 10.6% in Q4. - -------------------------------------------------------------------------= - ------- 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, no surprise given the 2-4% losses in most indexes. I am = seeing a lot of extended stocks, or stocks correcting and consolidating = recent gains, not much in between, and those mostly have earnings = forecast under 20%. I am applying a higher standard to my review. Since = many companies had a poor year in 2001, if I see earnings forecast for = both present and next year, I try to exclude any that are not at least = 20% for both years. ABCO - B3 AZO - broke the pivot point in the handle on Thu on 3X ADV, Friday's = volume following thru, within 5% of PP BEL - B5 HRH - high, volatile handle forming, volume drying up JNC - LLUR LION - B5 MCL - LLUR OCAS - early stage LLUR PETM - LLUR PXXI - holding at support after a big run, EPS 76, in my VR fund OVRL - consolidating recovery from a triple bottom, owned, in my VR fund SONC - rough LLUR SYPR - turning into a LLUR, in my VR fund TUES - consolidating recent gains, volume light Happy Hunting, and Happy Memorial Day, isn't it nice to have a Monday = off, and say Thank You to the military? Tom Worley stkguru@bellsouth.net AIM: TexWorley - ------=_NextPart_001_0027_01C2048C.978D7D40 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 6.00.2716.2200" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3DArial>work demands and stress kept my focus off the = market this=20 past week, but will still try to recap some events</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial><STRONG>ECONOMICS</STRONG></FONT></DIV> <DIV><FONT face=3DArial>Durable goods orders rose 1.1%, eclipsing = expectations of=20 0.5% growth and far exceeding the 0.2% gain in March (originally = reported as a=20 0.6% decline, trend of revisions important). Even excluding the volatile = transportation and defense orders, the numbers still looked strong. And=20 computers and electronics were up 2.5%</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>New unemployment claims continued to slip, but = remained=20 above 400K. Labor is still unable to quantify how much of this is new = claims,=20 and how much is "refilers", who are now eligible under recent changes in = benefits.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>GDP for Q1 revised downward from 5.8% to 5.6%,=20 expectations were for an increase to 6%. Still, far surpasses the 1.7% = growth in=20 Q4 last year.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Meanwhile, new home sales jumped 1% to an annual = rate of=20 915K. Expectations were for a rate of 885K.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Inventories continued to shrink for the 16th = consecutive=20 quarter, but at a far slower rate. Inventory shrinkage has bottomed, or=20 reversed, for most industries.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Corporate profits rose 0.9% in Q1 compared to a = drop of=20 10.6% in Q4.</DIV> <DIV> <HR> </DIV></FONT> <DIV><FONT face=3DArial> <DIV><STRONG>WORLEY'S WATCHLIST WANNABES</STRONG></DIV> <DIV>As always, I will mention specific basing formations, such as = c&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> </DIV> <DIV>The population of stocks I am reviewing this weekend slid = further this=20 past week, no surprise given the 2-4% losses in most indexes. I am = seeing a lot=20 of extended stocks, or stocks correcting and consolidating recent gains, = not=20 much in between, and those mostly have earnings forecast under 20%. I am = applying a higher standard to my review. Since many companies had a poor = year in=20 2001, if I see earnings forecast for both present and next year, I try = to=20 exclude any that are not at least 20% for both = years.</DIV></DIV></FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>ABCO - B3</FONT></DIV> <DIV><FONT face=3DArial>AZO - broke the pivot point in the handle on Thu = on 3X=20 ADV, Friday's volume following thru, within 5% of PP</FONT></DIV> <DIV><FONT face=3DArial>BEL - B5</FONT></DIV> <DIV><FONT face=3DArial>HRH - high, volatile handle forming, volume = drying=20 up</FONT></DIV> <DIV><FONT face=3DArial>JNC - LLUR</FONT></DIV> <DIV><FONT face=3DArial>LION - B5</FONT></DIV> <DIV><FONT face=3DArial>MCL - LLUR</FONT></DIV> <DIV><FONT face=3DArial>OCAS - early stage LLUR</FONT></DIV> <DIV><FONT face=3DArial>PETM - LLUR</FONT></DIV> <DIV><FONT face=3DArial>PXXI - holding at support after a big run, EPS = 76, in my=20 VR fund</FONT></DIV> <DIV><FONT face=3DArial>OVRL - consolidating recovery from a triple = bottom, owned,=20 in my VR fund</FONT></DIV> <DIV><FONT face=3DArial>SONC - rough LLUR</FONT></DIV> <DIV><FONT face=3DArial>SYPR - turning into a LLUR, in my VR = fund</FONT></DIV> <DIV><FONT face=3DArial>TUES - consolidating recent gains, volume=20 light</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Happy Hunting, and Happy Memorial Day, isn't it = nice to=20 have a Monday off, and say Thank You to the military?</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial></FONT><FONT face=3DArial><IMG alt=3D"" = hspace=3D0=20 src=3D"cid:002501c204ae$1e9a3b40$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> - ------=_NextPart_001_0027_01C2048C.978D7D40-- - ------=_NextPart_000_0026_01C2048C.978D7D40 Content-Type: image/gif; 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