[CANSLIM] Worley's Weekend Weeview

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 1 Jun 2002 21:31:20 -0400
Next Article (by Date): Re: [CANSLIM] Intraday Index Data and Currency Data "Patrick Wahl"
Previous Article (by Date): Re: [CANSLIM] Intraday Index Data and Currency Data "Sam Bench"
Articles sorted by: [Date] [Author] [Subject]
This is a multi-part message in MIME format.

- ------=_NextPart_000_03DB_01C209B3.ABE283E0
Content-Type: multipart/alternative;
	boundary="----=_NextPart_001_03DC_01C209B3.ABE283E0"


- ------=_NextPart_001_03DC_01C209B3.ABE283E0
Content-Type: text/plain;
	charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable

M
Difficult week for me to follow the markets, over 46 hours at work in =
just 4 days. But my general sense, despite every index being down over =
1% for the week, is that there is a resilience to the markets right now. =
Economics continue to improve, earnings more often than not are ahead of =
forecasts, confidence remains good (critical to consumer spending =
continuing). I remain fully invested in small and micro cap growth =
stocks, and managed to make money this past week despite Russell 2000 =
being down 1.25%. But I am also not finding new candidates, just riding =
what I already have.
- -------------------------------------------------------------------------=
- -------

JAPAN
Moody's downgraded their credit rating two more notches, putting them =
one below Botswana and even with Kuwait. Govt debt stands at 140% of =
their GDP as they appear headed back into a double dip recession after =
one quarter of minor GDP growth.
- -------------------------------------------------------------------------=
- -------

ECONOMICS - watch the trend in revisions, and actual reports vs =
expectations
University of Michigan's Consumer Sentiment Index for May surprised all =
by being revised upward to 96.9 from 96.0. It was 93.0 in April. =
Consumer views of the state of the economy was revised sharply up to =
103.5, April was 99.2. Consumer expectations was also revised sharply =
upward to 92.7 from 91.3 after reporting 89.1 in April.

Chicago Purchasing Managers index was expected to rise to 55 in May from =
54.7 in April, instead leapt to 60.8, suggesting that business spending =
is starting to pick up strongly. This index is seen as often mirroring =
the nat'l report, due out next Monday.

US factory orders rose 1.2% in May from 1.0% in April, expected was a =
rise of just 0.7%. The trend is clear, this was the fifth consecutive =
month of gains.

Productivity grew at a revised 8.4% annual rate (preliminary was 8.6%, =
no change was expected) during the first quarter. This is the strongest =
since Q2 1983.

On unemployment, new claims declined but remained above 400K for the 8th =
week. Those continuing to receive benefits rose 50K to 3.89 million, =
highest since Jan 15, 1983 (course there are a lot more people working =
today compared to 1983). This recovery is taking on some signs, with =
regard to employment, suggesting the 1990-1991 recovery, when =
unemployment remained high for over a year. Overall rate of unemployment =
is expected to be reported next week at 6.1%, up from 6%. Of course, it =
was not that many years ago, before Greenspan proved he could fight =
inflation, that the markets believed that unemployment much below 6% was =
inflationary, and under 5% was dangerous. The May Unemployment Report is =
the big economic one for next week, due on Friday.

Consumer confidence rose to 109.8 from a revised April level of 108.5, =
expectations were for a rate of 110.0.

Existing home sales jumped 7% to an annual rate of 5.79 million units, =
up from a revised April rate of 5.41, and well ahead of expectations for =
5.35 million units. With existing sales remaining strong, I would expect =
to see new home sales also remain strong overall.

Personal spending rose 0.5% (I did my share and a few others as well), =
while personal income rose 0.3% (someone else got mine). Income was in =
line with expectations, while spending fell short of expectations for a =
rise to 0.7%.

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

=20
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 and =
next, but do no other due diligence. I exclude any stocks under any form =
of merger / acquisition.

The population of stocks I am reviewing this weekend slid further this =
past week.

AMSG - kind of an odd looking c&h, Thursday broke up from a nicely =
declining handle on volume to the pivot point, worth watching
AZO - high handle forming
BEL - 6 week consolidation
ERES - BE
FCFS- B6, broke pivot Friday on 8X ADV
LION - B6
MCL - LLUR
OCAS - LLUR, no revenue growth
ODSY - 6 week consolidation, volume declining, another play on the aging =
baby boomer market?
PETM - LLUR
ROST - LLUR
SSNC - 6 week consolidation, mostly light volume
SYPR - nice 8 week consolidation, volume drying up, funds have 54%, but =
only because float very small due management having 87%, in my VR Fund
WFMI - B3
ZAP - nice c&h

Happy Hunting,


Tom Worley
stkguru@bellsouth.net
AIM: TexWorley

- ------=_NextPart_001_03DC_01C209B3.ABE283E0
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>
<DIV><FONT face=3DArial><STRONG>M</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>Difficult week for me to follow the markets, =
over 46 hours=20
at work in just 4 days. But my general sense, despite every index being =
down=20
over 1% for the week, is that there is a resilience to the markets right =
now.=20
Economics continue to improve, earnings more often than not are ahead of =

forecasts, confidence remains good (critical to consumer spending =
continuing). I=20
remain fully invested in small and micro cap growth stocks, and managed =
to make=20
money this past week despite Russell 2000 being down 1.25%. But I am =
also not=20
finding new candidates, just riding what I already have.
<HR>
</FONT></DIV>
<DIV><FONT face=3DArial><STRONG>JAPAN</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>Moody's downgraded their credit rating two more =
notches,=20
putting them one below Botswana and even with Kuwait. Govt debt stands =
at 140%=20
of their GDP as they appear headed back into a double dip recession =
after one=20
quarter of minor GDP growth.</FONT>
<HR>
</DIV>
<DIV><FONT face=3DArial><STRONG>ECONOMICS -</STRONG> <EM>watch the trend =
in=20
revisions, and actual reports vs expectations</EM></FONT></DIV>
<DIV><FONT face=3DArial>University of Michigan's Consumer Sentiment =
Index for May=20
surprised all by being revised upward to 96.9 from 96.0. It was 93.0 in =
April.=20
Consumer views of the state of the economy was revised sharply up to =
103.5,=20
April was 99.2. Consumer expectations was also revised sharply upward to =
92.7=20
from 91.3 after reporting 89.1 in April.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Chicago Purchasing Managers index was expected =
to rise to=20
55 in May from 54.7 in April, instead leapt to 60.8, suggesting that =
business=20
spending is starting to pick up strongly. This index is seen as often =
mirroring=20
the nat'l report, due out next Monday.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>US factory orders rose 1.2% in May from 1.0% in =
April,=20
expected was a rise of just 0.7%. The trend is clear, this was the fifth =

consecutive month of gains.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Productivity grew at a revised 8.4% annual rate=20
(preliminary was 8.6%, no change was expected) during the first quarter. =
This is=20
the strongest since Q2 1983.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>On unemployment, new claims declined but =
remained above=20
400K for the 8th week. Those continuing to receive benefits rose 50K to =
3.89=20
million, highest since Jan 15, 1983 (course there are a lot more people =
working=20
today compared to 1983). This recovery is taking on some signs, with =
regard to=20
employment, suggesting the 1990-1991 recovery, when unemployment =
remained high=20
for over a year. Overall rate of unemployment is expected to be reported =
next=20
week at 6.1%, up from 6%. Of course, it was not that many years ago, =
before=20
Greenspan proved he could fight inflation, that the markets believed =
that=20
unemployment much below 6% was inflationary, and under 5% was dangerous. =
The May=20
Unemployment Report is the big economic one for next week, due on=20
Friday.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Consumer confidence rose to 109.8 from a revised =
April=20
level of 108.5, expectations were for a rate of 110.0.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Existing home sales jumped 7% to an annual rate =
of 5.79=20
million units, up from a revised April rate of 5.41, and well ahead of=20
expectations for 5.35 million units. With existing sales remaining =
strong, I=20
would expect to see new home sales also remain strong =
overall.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Personal spending rose 0.5% (I did my share and =
a few=20
others as well), while personal income rose 0.3% (someone else got =
mine). Income=20
was in line with expectations, while spending fell short of expectations =
for a=20
rise to 0.7%.</DIV>
<DIV>
<HR>
</DIV>
<DIV>&nbsp;
<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 and next, but do no other due diligence. I =
exclude any=20
stocks under any form of merger / acquisition.
<DIV>&nbsp;</DIV>
<DIV>The population of stocks I am reviewing this weekend&nbsp;slid =
further this=20
past week.</DIV>
<DIV>&nbsp;</DIV>
<DIV>AMSG - kind of an odd looking c&amp;h, Thursday broke up from a =
nicely=20
declining handle on volume to the pivot point, worth watching</DIV>
<DIV>AZO - high handle forming</DIV>
<DIV>BEL - 6 week consolidation</DIV>
<DIV>ERES - BE</DIV>
<DIV>FCFS- B6, broke pivot Friday on 8X ADV</DIV>
<DIV>LION - B6</DIV>
<DIV>MCL - LLUR</DIV>
<DIV>OCAS - LLUR, no revenue growth</DIV>
<DIV>ODSY - 6 week consolidation, volume declining, another play on the =
aging=20
baby boomer market?</DIV>
<DIV>PETM - LLUR</DIV>
<DIV>ROST - LLUR</DIV>
<DIV>SSNC - 6 week consolidation, mostly light volume</DIV>
<DIV>SYPR - nice 8 week consolidation, volume drying up, funds have 54%, =
but=20
only because float very small due management having 87%, in my VR =
Fund</DIV>
<DIV>WFMI - B3</DIV>
<DIV>ZAP - nice c&amp;h</DIV></DIV></DIV></FONT>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Happy Hunting,</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><IMG alt=3D"" hspace=3D0 =
src=3D"cid:03da01c209d5$32f423e0$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_03DC_01C209B3.ABE283E0--

- ------=_NextPart_000_03DB_01C209B3.ABE283E0
Content-Type: image/gif;
	name="USflag.gif"
Content-Transfer-Encoding: base64
Content-ID: <03da01c209d5$32f423e0$9300a8c0@TOMSBOX>
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- ------=_NextPart_000_03DB_01C209B3.ABE283E0--



- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.
Go to Jeff Salisbury LWGate Home Page.