Go to Jeff Salisbury LWGate Home Page.From: "Fred Richards" <adrich@gte.net>
Subject: RE: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 6 Jul 2002 15:43:10 -0500
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This is a multi-part message in MIME format. - ------=_NextPart_000_001C_01C22503.D4EC9800 Content-Type: multipart/alternative; boundary="----=_NextPart_001_001D_01C22503.D4EC9800" - ------=_NextPart_001_001D_01C22503.D4EC9800 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit Tom, The second revision for April shows that there was an actual loss of jobs in April versus the original and first revision numbers. Now that the expectation of 75,000 new jobs being created was originally considered to be only 39,000, I wonder what the first and second revisions will do to that number. In addition, the number of announced layoffs was over 10% higher than the previous month. Doesn't necessarily sound like an improving economy, just more spin. Fred -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley Sent: Saturday, July 06, 2002 2:31 PM To: CANSLIM Subject: [CANSLIM] Worley's Weekend Weeview ECONOMICS ISM's index of manufacturing activity not only blew past expectations, it posted a bigger gain than in May to 56.2 rather than slipping to 55.5 as expected. Fifth month in a row of expansion. Virtually every component of the index was up strongly. Noteworthy was the employment index, which barely missed crossing into expansion territory. Construction spending fell 0.7%, expectations were for a 0.2% rise. Level of spending is still higher than at any time in 2001 after earlier big jumps. New unemployment claims continue to fall, this time below expectations, and mark the fifth straight week under 400K. The four week average is the best in three months. OECD's (Organization for Economic Cooperation and Development) economic indicator moved up for the seventh straight month. Biggest single gainer was Britain, up 1.1. Among the Euro countries, Germany was strongest gaining 0.6. USA gained 0.2 after losing ground last month. As expected, overall unemployment edged up to 5.9% while the increase of 36,000 new jobs fell well under expectations of 75K. The gain of 36K was ahead of the downwardly revised 24K for May. Still, the figures continue to improve over first quarter, when there continued to be a small loss of jobs. - ---------------------------------------------------------------------------- - -- 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 am employed in Operations by a US Broker Dealer, however everything presented by me is strictly my own ideas and in no way should be taken to reflect the views or opinions of my employer. 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 no longer will look at earnings forecast for this year and next due the confusing data presented by DGO. I do no other due diligence, that is your responsibility. I will note any CANSLIM patterns I see, such as c&h, double (or triple) bottoms, or flat bases (shown as Bx where "x" is the # of weeks, IMO). I will also note LLUR (Lower Left Upper Right) even though it is not exactly a CANSLIM pattern. The population of stocks I am reviewing this weekend appears stable from last week. ALV - strange c&h?? AMZ - b/o (low volume) failed, back to pivot APOL - c&h APSG - B4, in my VR fund, small cap BY - teacup and handle CHBS - 8+ week consolidation, held up well COCO - B2 CPS - within pivot point CTSH - nice recovery, nice volume on Friday (75% of ADV) DOCC - B2, low priced microcap, owned and VR fund ELK - base on base after a nice double bottom FNLY - B8-, tight base INTU - new high on Friday on 67% of ADV, holding the b/o from a c&h JILL - B4 JJSF - b/o failed on volume, back under original pivot KBH - nice 9 week consolidation on a home builder LABS - LLUR becoming volatile LEN - high handle on a flat cup, homebuilder LTD - B5 MDC - c&h MEDW - B2+, in my VR Fund SSNC - correcting, holding above the base, microcap, in my VR Fund Happy Hunting, Tom Worley stkguru@bellsouth.net AIM: TexWorley - ------=_NextPart_001_001D_01C22503.D4EC9800 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><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2>Tom,</FONT></SPAN></DIV> <DIV><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2>The=20 second revision for April shows that there was an actual loss of jobs in = April=20 versus the original and first revision numbers.</FONT></SPAN></DIV> <DIV><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2>Now=20 that the expectation of 75,000 new jobs being created was originally = considered=20 to be only 39,000, I wonder what the first and second revisions will do = to that=20 number.</FONT></SPAN></DIV> <DIV><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2>In=20 addition, the number of announced layoffs was over 10% higher than the = previous=20 month.</FONT></SPAN></DIV> <DIV><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2>Doesn't necessarily sound like an improving economy, just more=20 spin.</FONT></SPAN></DIV> <DIV><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D160093920-06072002><FONT face=3DArial color=3D#0000ff = size=3D2>Fred</FONT></SPAN></DIV> <BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px"> <DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT = face=3DTahoma=20 size=3D2>-----Original Message-----<BR><B>From:</B>=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Tom=20 Worley<BR><B>Sent:</B> Saturday, July 06, 2002 2:31 PM<BR><B>To:</B>=20 CANSLIM<BR><B>Subject:</B> [CANSLIM] Worley's Weekend=20 Weeview<BR><BR></FONT></DIV> <DIV><FONT face=3DArial><STRONG>ECONOMICS</STRONG></FONT></DIV> <DIV><FONT face=3DArial>ISM's index of manufacturing activity not only = blew past=20 expectations, it posted a bigger gain than in May to 56.2 rather than = slipping=20 to 55.5 as expected. Fifth month in a row of expansion. Virtually = every=20 component of the index was up strongly. Noteworthy was the employment = index,=20 which barely missed crossing into expansion territory.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Construction spending fell 0.7%, expectations = were for a=20 0.2% rise. Level of spending is still higher than at any time in 2001 = after=20 earlier big jumps.</FONT></DIV> <DIV><FONT face=3DArial>New unemployment claims continue to fall, this = time=20 below expectations, and mark the fifth straight week under 400K. The = four week=20 average is the best in three months.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>OECD's (Organization for Economic Cooperation = and=20 Development) economic indicator moved up for the seventh straight = month.=20 Biggest single gainer was Britain, up 1.1. Among the Euro countries, = Germany=20 was strongest gaining 0.6. USA gained 0.2 after losing ground last=20 month.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>As expected, overall unemployment edged up to = 5.9% while=20 the increase of 36,000 new jobs fell well under expectations of 75K. = The gain=20 of 36K was ahead of the downwardly revised 24K for May. Still, the = figures=20 continue to improve over first quarter, when there continued to be a = small=20 loss of jobs.</FONT></DIV> <DIV><FONT face=3DArial> <HR> <DIV><FONT face=3DArial><STRONG>WORLEY'S WATCHLIST=20 WANNABES</STRONG></FONT></DIV> <DIV><FONT face=3DArial>This list is in no way intended to recommend = any stocks=20 to the group. It is a part of my regular assessment of the health of = CANSLIM's=20 "M" 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=20 your own due diligence). <FONT color=3D#0000ff><STRONG><EM>I am = employed in=20 Operations by a US Broker Dealer, however everything presented by me = is=20 strictly my own ideas and in no way should be taken to reflect the = views or=20 opinions of my employer.</EM></STRONG></FONT></FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>I typically list stocks with both RS and EPS = ranking of=20 80 or better, and try to exclude stocks undergoing any merger / = acquisition /=20 buyout scenario. I no longer will look at earnings forecast = for this=20 year and next due the confusing data presented by DGO. I do no other = due=20 diligence, that is your responsibility. I will note any CANSLIM = patterns I=20 see, such as c&h, double (or triple) bottoms, or flat bases (shown = as Bx=20 where "x" is the # of weeks, IMO). I will also note LLUR (Lower Left = Upper=20 Right) even though it is not exactly a CANSLIM pattern.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>The population of stocks I am reviewing this = weekend=20 appears stable from last week. </FONT></DIV> <DIV> </DIV> <DIV>ALV - strange c&h??</DIV> <DIV>AMZ - b/o (low volume) failed, back to pivot</DIV> <DIV>APOL - c&h</DIV> <DIV>APSG - B4, in my VR fund, small cap</DIV> <DIV>BY - teacup and handle</DIV> <DIV>CHBS - 8+ week consolidation, held up well</DIV> <DIV>COCO - B2</DIV> <DIV>CPS - within pivot point</DIV> <DIV>CTSH - nice recovery, nice volume on Friday (75% of ADV)</DIV> <DIV>DOCC - B2, low priced microcap, owned and VR fund</DIV> <DIV>ELK - base on base after a nice double bottom</DIV> <DIV>FNLY - B8-, tight base</DIV> <DIV>INTU - new high on Friday on 67% of ADV, holding the b/o from a=20 c&h</DIV> <DIV>JILL - B4</DIV> <DIV>JJSF - b/o failed on volume, back under original pivot</DIV> <DIV>KBH - nice 9 week consolidation on a home builder</DIV> <DIV>LABS - LLUR becoming volatile</DIV> <DIV>LEN - high handle on a flat cup, homebuilder</DIV> <DIV>LTD - B5</DIV> <DIV>MDC - c&h</DIV> <DIV>MEDW - B2+, in my VR Fund</DIV> <DIV>SSNC - correcting, holding above the base, microcap, in my VR = Fund</DIV> <DIV> </DIV> <DIV>Happy Hunting,</DIV></FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial></FONT><IMG alt=3D"" hspace=3D0=20 src=3D"cid:160093920@06072002-26a5" 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:=20 TexWorley</FONT></DIV></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_001_001D_01C22503.D4EC9800-- - ------=_NextPart_000_001C_01C22503.D4EC9800 Content-Type: image/gif; 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