[CANSLIM] Worley's Weekend Weeview

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sun, 23 Jun 2002 07:42:24 -0400
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ECONOMICS
Factory orders gains for April were roughly cut in half as an annual =
adjustment was made to bring the data in line with the broader data from =
the Annual Survey of Manufacturers.

New Unemployment Claims continue the declining trend seen in past weeks. =
Since the benefits duration was extended, and those whose benefits had =
expired returned to refile for the extension (even tho Labor was unable =
to quantify the impact), the new claims has been steadily declining back =
under 400K. The four week moving average has now also fallen under 400K.

Trade Deficit in April jumped over 10% to an all time high of $35.9 =
billion reflecting, among other things, a very weak dollar, and strength =
in imported oil prices. Fear of a dock strike in California may have =
also increased imports.

Index of leading economic indicators rose 0.4% in May to 112.2 after a =
0.3% drop in April. Expectations were for only a 0.2% rise.

The weakening US dollar is showing up more and more. In the past month =
or so, it has dropped over 10% against the Euro. It has continued to =
fall as well against the yen. Combined with the net decrease of =
purchasing of US securities by foreign investors, the trend is likely to =
continue and could threaten a recovery. In the 4th quarter, foreign =
purchases of US stocks dropped $8 billion to $25 billion. And on US =
Treasury bonds, there was a net sale of $5.7 billion compared to prior =
net purchase of $27.2 billion. That is a huge swing. While the weakening =
dollar, by itself, increases the value of imports and decreases the =
value of exports, thus widening the Trade Deficit as well as the Current =
Account, eventually it can also result in making US manufacturer's =
products more price competitive, and generate new sales and demands for =
US goods.

Oil production in the second half of the year is likely to increase as =
several non-OPEC countries (latest being Venezuela following Norway, =
Russia) cease their recent cuts.=20

Good summary on the current state of the US economy can be found at
http://money.cnn.com/2002/06/21/news/economy/econ_roundup/index.htm=20
- -------------------------------------------------------------------------=
- -------

"M"
Both the DOW and the S&P 500 closed down for the week, fifth week in a =
row for that, and first time in a year to be down 5 consecutive weeks. =
Naz finished only 17 points off its 9/11 bottom. Either capitulation =
better happen real soon, or we are in some mighty deep doo doo.

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

WORLEY'S WATCHLIST WANNABES
This list is in no way intended to recommend any stocks to the group. It =
is a part of my regular assessment of the health of CANSLIM's "M" and, =
as the name implies, only intended to identify some stocks with =
constructive chart patterns that may be worth WATCHING (and of course =
doing your own due diligence). I typically list stocks with both RS and =
EPS ranking of 80 or better, and try to exclude stocks undergoing any =
merger / acquisition / buyout scenario. I also exclude those stocks I =
spot with earnings forecast for this year and next that are not at least =
close to 20%. I do no other due diligence.

The population of stocks I am reviewing this weekend continued to slide =
further during the past week. Daily lists were not even a page long, and =
little of interest to me. The across the board slide continuing in all =
indexes, including small cap growth, has hurt a lot of otherwise good =
looking charts.

AMZ - LLUR
CECO - B8
CHS - turning into a LLUR?
COCO - b/o Friday on 1.5X ADV
CPS - young LLUR?
ELUX - triple bottom
ENR - nice chart, but weak forecast for 2003
ERES - another nice chart, clear LLUR but with strong earnings forecast
FCN - volatile LLUR
FNLY - B6
HIBB - 10 week consolidation
HLYW - 10 week consolidation, might be a recession/fear of terrorism =
play, cheaper than the movies and safer
HUG - at the pivot
JJSF - another 10 week consolidation
LABS - broke the pivot Thursday, volume not sufficient, former LLUR
LION - B9
MCRS - 10 week handle on a nice cup?? sign of the times for c&h =
formations??
MMSI - triple bottom? c&h??
NTK - broke the pivot on Friday on 8X ADV, benefiting from the continued =
strong home construction market
OCAS - B3
ODSY - B9
OVRL - b/o holding despite "M", owned, in my VR Fund
PETM - LLUR, basing due "M"??
SCVL - broke pivot Friday on 3X ADV
SSNC - Tuesday's b/o on volume holding despite "M", in my VR Fund
SYPR - nice recovery last week, over 50dma and into resistance, in my VR =
Fund
TRI - B2
WSH - B4

Happy Hunting,

Tom Worley
stkguru@bellsouth.net
AIM: TexWorley

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charset=3Diso-8859-1">
<META content=3D"MSHTML 6.00.2716.2200" name=3DGENERATOR>
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<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial></FONT><FONT=20
face=3DArial><STRONG>ECONOMICS</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>Factory orders gains for April were roughly cut =
in half as=20
an annual adjustment was made to bring the data in line with the broader =
data=20
from the Annual Survey of Manufacturers.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>New Unemployment Claims continue the declining =
trend seen=20
in past weeks. Since the&nbsp;benefits duration was extended, and those =
whose=20
benefits had expired returned to refile for the extension (even tho =
Labor was=20
unable to quantify the impact), the new claims has been steadily =
declining back=20
under 400K. The four week moving average has now also fallen under=20
400K.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Trade Deficit in April jumped over 10% to an all =
time high=20
of $35.9 billion reflecting, among other things, a very weak dollar, and =

strength in imported oil prices. Fear of a dock strike in California may =
have=20
also increased imports.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Index of leading economic indicators rose 0.4% =
in May to=20
112.2 after a 0.3% drop in April. Expectations were for only a 0.2%=20
rise.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>The weakening US dollar is showing up more and =
more. In=20
the past month or so, it has dropped over 10% against the Euro. It has =
continued=20
to fall as well against the yen. Combined with the net decrease of =
purchasing of=20
US securities by foreign investors, the trend is likely to continue and =
could=20
threaten a recovery. In the 4th quarter, foreign purchases of US stocks =
dropped=20
$8 billion to $25 billion. And on US Treasury bonds, there was a net =
sale of=20
$5.7 billion compared to prior net purchase of $27.2 billion. That is a =
huge=20
swing. While the weakening dollar, by itself, increases the value of =
imports and=20
decreases the value of exports, thus widening the Trade Deficit as well =
as the=20
Current Account, eventually it can also result in making US =
manufacturer's=20
products more price competitive, and generate new sales and demands for =
US=20
goods.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Oil production in the second half of the year is =
likely to=20
increase as several non-OPEC countries (latest being Venezuela following =
Norway,=20
Russia) cease their recent cuts. </FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Good summary on the current state of the US =
economy can be=20
found at</FONT></DIV>
<DIV><FONT face=3DArial><A=20
href=3D"http://money.cnn.com/2002/06/21/news/economy/econ_roundup/index.h=
tm">http://money.cnn.com/2002/06/21/news/economy/econ_roundup/index.htm</=
A>=20

<HR>
</FONT></DIV>
<DIV><FONT face=3DArial><STRONG>"M"</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>Both the DOW and the S&amp;P 500 closed down for =
the week,=20
fifth week in a row for that, and first time in a year to be down 5 =
consecutive=20
weeks. Naz finished only 17 points off its 9/11 bottom. Either =
capitulation=20
better happen real soon, or we are in some mighty deep doo doo.</DIV>
<DIV>
<HR>
</DIV></FONT>
<DIV><FONT face=3DArial><STRONG>WORLEY'S WATCHLIST =
WANNABES</STRONG></FONT></DIV>
<DIV><FONT face=3DArial>This list is in no way intended to recommend any =
stocks to=20
the group. It is a part of my regular assessment of the health of =
CANSLIM's "M"=20
and, as the name implies, only intended to identify some stocks with=20
constructive chart patterns that may be worth WATCHING (and of course =
doing your=20
own due diligence). I typically list stocks with both RS and EPS ranking =
of 80=20
or better, and try to exclude stocks undergoing any merger / acquisition =
/=20
buyout scenario. I also exclude those stocks I spot with earnings =
forecast for=20
this year and next that are not at least close to 20%. I do no other due =

diligence.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>The population of stocks I am reviewing this =
weekend=20
continued to slide further during the past week. Daily lists were not =
even a=20
page long, and little of interest to me. The across the board slide =
continuing=20
in all indexes, including small cap growth, has hurt a lot of otherwise =
good=20
looking charts.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>AMZ - LLUR</FONT></DIV>
<DIV><FONT face=3DArial>CECO - B8</FONT></DIV>
<DIV><FONT face=3DArial>CHS - turning into a LLUR?</FONT></DIV>
<DIV><FONT face=3DArial>COCO - b/o Friday on 1.5X ADV</FONT></DIV>
<DIV><FONT face=3DArial>CPS - young LLUR?</FONT></DIV>
<DIV><FONT face=3DArial>ELUX - triple bottom</FONT></DIV>
<DIV><FONT face=3DArial>ENR - nice chart, but weak forecast for =
2003</FONT></DIV>
<DIV><FONT face=3DArial>ERES - another nice chart, clear LLUR but with =
strong=20
earnings forecast</FONT></DIV>
<DIV><FONT face=3DArial>FCN - volatile LLUR</FONT></DIV>
<DIV><FONT face=3DArial>FNLY - B6</FONT></DIV>
<DIV><FONT face=3DArial>HIBB - 10 week consolidation</FONT></DIV>
<DIV><FONT face=3DArial>HLYW - 10 week consolidation, might be a =
recession/fear of=20
terrorism&nbsp;play, cheaper than the movies and safer</FONT></DIV>
<DIV><FONT face=3DArial>HUG - at the pivot</FONT></DIV>
<DIV><FONT face=3DArial>JJSF - another 10 week =
consolidation</FONT></DIV>
<DIV><FONT face=3DArial>LABS - broke the pivot Thursday, volume not =
sufficient,=20
former LLUR</FONT></DIV>
<DIV><FONT face=3DArial>LION - B9</FONT></DIV>
<DIV><FONT face=3DArial>MCRS - 10 week handle on a nice cup?? sign of =
the times=20
for c&amp;h formations??</FONT></DIV>
<DIV><FONT face=3DArial>MMSI - triple bottom? c&amp;h??</FONT></DIV>
<DIV><FONT face=3DArial>NTK - broke the pivot on Friday on 8X ADV, =
benefiting from=20
the continued strong home construction market</FONT></DIV>
<DIV><FONT face=3DArial>OCAS - B3</FONT></DIV>
<DIV><FONT face=3DArial>ODSY - B9</FONT></DIV>
<DIV><FONT face=3DArial>OVRL - b/o holding despite "M", owned, in my VR=20
Fund</FONT></DIV>
<DIV><FONT face=3DArial>PETM - LLUR, basing due "M"??</FONT></DIV>
<DIV><FONT face=3DArial>SCVL - broke pivot Friday on 3X ADV</FONT></DIV>
<DIV><FONT face=3DArial>SSNC - Tuesday's b/o on volume holding despite =
"M", in my=20
VR Fund</FONT></DIV>
<DIV><FONT face=3DArial>SYPR - nice recovery last week, over 50dma and =
into=20
resistance, in my VR Fund</FONT></DIV>
<DIV><FONT face=3DArial>TRI - B2</FONT></DIV>
<DIV><FONT face=3DArial>WSH - B4</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>Happy Hunting,</FONT></DIV>
<DIV><FONT face=3DArial><IMG alt=3D"" hspace=3D0=20
src=3D"cid:002c01c21aab$0af8ea10$6501a8c0@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>

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