[CANSLIM] Worley's Weekend Weeview

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 8 Jun 2002 20:27:41 -0400
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ECONOMICS
ISM Index (formerly NAPM) rose nicely to 55.7 in May from 53.9 in April, =
continuing to show recovery in the manufacturing sector. Expected was =
55.0, and was the highest since Feb, '2000.

Construction spending rose 0.2% in April after falling 1.2% in March. =
Expected was a drop of 0.1%. Private residential construction rose 0.7% =
to the highest annualized rate in history ($425.5 billion).

Wholesale inventories continued to drop, down another 0.7%, while sales =
rose 1.6%. The Inventory / Sales Ratio of 1.23 is the lowest on record, =
clearly production must increase if sales continue.

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UNEMPLOYMENT
Looks like the volume of "refilers" is finally drying up as most =
eligible for the extended benefits have apparently now filed. "New" =
filers (which Labor has to date failed to be able to differentiate =
between true new filers and refilers) finally dropped under 400K this =
week, down to 383K, well below expectations of 405K, and dragging the 4 =
week average down sharply to 411,250 from 419,750.=20
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- -------

EMPLOYMENT
Friday's report surprised with positive news, overall unemployment =
dropping to 5.8% from 6% instead of rising as expected to 6.1%. New jobs =
were well under expectations, with 41K added instead of 75K. Revised new =
jobs in April ended up only 6K.

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

The population of stocks I am reviewing this weekend slid further this =
past week. Daily lists were not even a page long, and little of =
interest. The across the board slide in all indexes hurt a lot of =
otherwise good looking charts.

ABC - pushing the pivot point in a 7 week base
AMZ - LLUR
APSG - c&h
CECO - nice 7 week base, just under pivot, volume drying up
CHBS - base on base
CHS - nice bounce off the 50dma, lot of insider selling
COCO - nice consolidation, volume picking up
CPS - 9 week c&h, volume hasn't dried up
DKWD - LLUR
DOCC - small cap, consolidating nicely in a bad "M", owned, in my VR =
Fund
ERES - LLUR, early stage, big move on Friday
GLG - volatile B3
HRH - 2nd attempt to break out from the handle
ODSY - B7
OVRL - triple bottom / c&h, owned & in my VR Fund
PETM - was LLUR, b/o on good earnings news
PRV - c&h
SBUX - double bottom
THC - B8
THO - retiring baby boomer stock?
TRI - chart questionable right now, but another retiring baby boomer =
stock
TSN - saucer
WSM - B2+

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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<STYLE></STYLE>
</HEAD>
<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial><STRONG>ECONOMICS</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>ISM Index (formerly NAPM) rose nicely to 55.7 in =
May from=20
53.9 in April, continuing to show recovery in the manufacturing sector. =
Expected=20
was 55.0, and was the highest since Feb, '2000.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Construction spending rose 0.2% in April after =
falling=20
1.2% in March. Expected was a drop of 0.1%. Private residential =
construction=20
rose 0.7% to the highest annualized rate in history ($425.5=20
billion).</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Wholesale inventories continued to drop, down =
another=20
0.7%, while sales rose 1.6%. The Inventory / Sales Ratio of 1.23 is the =
lowest=20
on record, clearly production must increase if sales continue.</DIV>
<DIV>
<HR>
</DIV></FONT>
<DIV><FONT face=3DArial><STRONG>UNEMPLOYMENT</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>Looks like the volume of "refilers" is finally =
drying up=20
as most eligible for the extended benefits have apparently now filed. =
"New"=20
filers (which Labor has to date failed to be able to differentiate =
between true=20
new filers and refilers) finally dropped under 400K this week, down to =
383K,=20
well below expectations of 405K,&nbsp;and dragging the 4 week average =
down=20
sharply to 411,250 from 419,750.=20
<HR>
</FONT></DIV>
<DIV><FONT face=3DArial><STRONG>EMPLOYMENT</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>Friday's report surprised with positive news, =
overall=20
unemployment dropping to 5.8% from 6% instead of rising as expected to =
6.1%. New=20
jobs were well under expectations, with 41K added instead of 75K. =
Revised new=20
jobs in April ended up only 6K.</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 and next, but do no other due diligence. I =
exclude any=20
stocks under any form of merger / acquisition.=20
<DIV>&nbsp;</DIV>
<DIV>The population of stocks I am reviewing this weekend&nbsp;slid =
further this=20
past week. Daily lists were not even a page long, and little of =
interest. The=20
across the board slide in all indexes hurt a lot of otherwise good =
looking=20
charts.</DIV>
<DIV>&nbsp;</DIV>
<DIV>ABC - pushing the pivot point in a 7 week base</DIV>
<DIV>AMZ - LLUR</DIV>
<DIV>APSG - c&amp;h</DIV>
<DIV>CECO - nice 7 week base, just under pivot, volume drying up</DIV>
<DIV>CHBS - base on base</DIV>
<DIV>CHS - nice bounce off the 50dma, lot of insider selling</DIV>
<DIV>COCO - nice consolidation, volume picking up</DIV>
<DIV>CPS - 9 week c&amp;h, volume hasn't dried up</DIV>
<DIV>DKWD - LLUR</DIV>
<DIV>DOCC - small cap, consolidating nicely in a bad "M", owned, in my =
VR=20
Fund</DIV>
<DIV>ERES - LLUR, early stage, big move on Friday</DIV>
<DIV>GLG - volatile B3</DIV>
<DIV>HRH - 2nd attempt to break out from the handle</DIV>
<DIV>ODSY - B7</DIV>
<DIV>OVRL - triple bottom / c&amp;h, owned &amp; in my VR Fund</DIV>
<DIV>PETM - was LLUR, b/o on good earnings news</DIV>
<DIV>PRV - c&amp;h</DIV>
<DIV>SBUX - double bottom</DIV>
<DIV>THC - B8</DIV>
<DIV>THO - retiring baby boomer stock?</DIV>
<DIV>TRI - chart questionable right now, but another retiring baby =
boomer=20
stock</DIV>
<DIV>TSN - saucer</DIV>
<DIV>WSM - B2+</DIV>
<DIV>&nbsp;</DIV></DIV></DIV>
<DIV>Happy Hunting,</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial></FONT><IMG alt=3D"" hspace=3D0=20
src=3D"cid:01d301c20f4c$7756bee0$6501a8c0@TOMSBOX" 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>

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