Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: [CANSLIM] Worley's Weekend Weeview
Date: Sat, 17 Aug 2002 15:21:06 -0400
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This is a multi-part message in MIME format. - ------=_NextPart_000_0213_01C24601.B53F2080 Content-Type: multipart/alternative; boundary="----=_NextPart_001_0214_01C24601.B53F2080" - ------=_NextPart_001_0214_01C24601.B53F2080 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable ECONOMICS Business inventories rose 0.2% in June,for the second straight month, = significant not only for being the second month since Jan 2001 that = inventories rose, but unlike May doing so on a 0.3% rise in sales (in = May sales declined 0.3%). Expectations were for a rise of 0.1% in = inventories. This suggests that business is now intentionally increasing = inventories in a show of confidence for the future. Business investment rose 0.3% in the second quarter according to the = preliminary GDP report, first increase since Q3 of 2000. Industrial production rose 0.2% while capacity utilization remained = unchanged in July, both slightly ahead of expectations. FOMC left rates unchanged, while changing the bias to a possible future = easing. Media did a good job hyping a rate cut, can only wonder (until = we get the minutes) if this had any influence on the Feds. Meanwhile, = the media's favorite new story is to increase the fear of a double dip = back into recession. Univ. of Michigan's consumer sentiment survey dipped in mid August to = 87.9 from 88.1, expected by economists was a rise to 89 (can I have some = of whatever they were smoking??). Meanwhile same survey showed the = current conditions index rose to 100.2 from 99.3 while expectations = index dropped to 80 from 81. When will the media hold pain adverse Japan (the second largest economy = in the world) accountable for failing to take any meaningful steps to = enact changes to its corrupted banking system and closed economy, and = stop allowing it to instead hang on the back of the US and European = economies to drag it out of recession? Global economies are fragile, = they do not need or deserve the added weight of Japan. - -------------------------------------------------------------------------= - ------- WORLEY'S WATCHLIST WANNABES=20 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 learning from = (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 actively consider 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 expanded over 50% = this past week, certainly an encouraging sign that an increased number = of stocks were approaching or at new highs with both RS and EPS also 80 = or better. AF - possible handling forming, not confirmed yet by volume ANDE - B3+ APOL - nice b/o Thursday from a double bottom BLUD - rough LLUR BRKL - high handle forming on declining volume, capitulation day near = bottom of the c&h CSG - severe double bottom, volume light on right side, approaching = pivot CSTR - nice b/o Thursday from a 2 week handle DCOM - still trying to break out of the triple bottom pattern DOCC - owned & in my VR Fund, nice recovery from Wed's profit taking, = not an entry now, but worth holding (my target now 16-17) DORL - high handle FCBP - c&h FCN - B3 FNBP - B7 HBHC - LLUR? INVN - early stage LLUR below the high NWRE - B3, in my VR Fund PORT - LLUR into a B3, volume declining, could go either way QCBC - B3 QSII - B4 SBMC - double bottom, volume declining, 2% over pivot SFNT - unusual c&h SSNC - rough B6, in my VR Fund TRBS - fairly classic double bottom, handle forming TRYF - B5 WFMI - double bottom, sustained the b/o from pivot on center point, now = at left rim of "W", both below recent high Happy Hunting, Tom Worley stkguru@bellsouth.net AIM: TexWorley - ------=_NextPart_001_0214_01C24601.B53F2080 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></FONT><FONT=20 face=3DArial><STRONG>ECONOMICS</STRONG></FONT></DIV> <DIV><FONT face=3DArial>Business inventories rose 0.2% in June,for the = second=20 straight month, significant not only for being the second month since = Jan 2001=20 that inventories rose, but unlike May doing so on a 0.3% rise in sales = (in May=20 sales declined 0.3%). Expectations were for a rise of 0.1% in = inventories. This=20 suggests that business is now intentionally increasing inventories in a = show of=20 confidence for the future.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Business investment rose 0.3% in the second = quarter=20 according to the preliminary GDP report, first increase since Q3 of=20 2000.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Industrial production rose 0.2% while capacity = utilization=20 remained unchanged in July, both slightly ahead of = expectations.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>FOMC left rates unchanged, while changing the = bias to a=20 possible future easing. Media did a good job hyping a rate cut, can only = wonder=20 (until we get the minutes) if this had any influence on the Feds. = Meanwhile, the=20 media's favorite new story is to increase the fear of a double dip back = into=20 recession.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Univ. of Michigan's consumer sentiment survey = dipped in=20 mid August to 87.9 from 88.1, expected by economists was a rise to 89 = (can I=20 have some of whatever they were smoking??). Meanwhile same survey showed = the=20 current conditions index rose to 100.2 from 99.3 while expectations = index=20 dropped to 80 from 81.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>When will the media hold pain adverse Japan (the = second=20 largest economy in the world) accountable for failing to take any = meaningful=20 steps to enact changes to its corrupted banking system and closed = economy, and=20 stop allowing it to instead hang on the back of the US and European=20 economies to drag it out of recession? Global economies are = fragile, they=20 do not need or deserve the added weight of Japan. <HR> </FONT></DIV> <DIV><FONT face=3DArial><STRONG>WORLEY'S WATCHLIST WANNABES</STRONG>=20 <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 <STRONG><FONT=20 color=3D#ff0000>WATCHING</FONT> and learning from</STRONG> (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 = strictly=20 my own ideas and in no way should be taken to reflect the views or = opinions of=20 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 80=20 or better, and try to exclude stocks undergoing any merger / acquisition = /=20 buyout scenario. I no longer will actively = consider earnings=20 forecast for this year and next due the confusing data presented by DGO. = I do no=20 other due diligence, that is your responsibility. I will note any = CANSLIM=20 patterns I see, such as c&h, double (or triple) bottoms, or flat = bases=20 (shown as Bx where "x" is the # of weeks, IMO). I will also note LLUR = (Lower=20 Left Upper 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 expanded over 50% this past week, certainly an encouraging sign that an=20 increased number of stocks were approaching or at new highs with both RS = and EPS=20 also 80 or better.</FONT></DIV></FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>AF - possible handling forming, not confirmed = yet by=20 volume</FONT></DIV> <DIV><FONT face=3DArial>ANDE - B3+</FONT></DIV> <DIV><FONT face=3DArial>APOL - nice b/o Thursday from a double = bottom</FONT></DIV> <DIV><FONT face=3DArial>BLUD - rough LLUR</FONT></DIV> <DIV><FONT face=3DArial>BRKL - high handle forming on declining volume,=20 capitulation day near bottom of the c&h</FONT></DIV> <DIV><FONT face=3DArial>CSG - severe double bottom, volume light on = right side,=20 approaching pivot</FONT></DIV> <DIV><FONT face=3DArial>CSTR - nice b/o Thursday from a 2 week = handle</FONT></DIV> <DIV><FONT face=3DArial>DCOM - still trying to break out of the triple = bottom=20 pattern</FONT></DIV> <DIV><FONT face=3DArial>DOCC - owned & in my VR Fund, nice recovery = from Wed's=20 profit taking, not an entry now, but worth holding (my target now=20 16-17)</FONT></DIV> <DIV><FONT face=3DArial>DORL - high handle</FONT></DIV> <DIV><FONT face=3DArial>FCBP - c&h</FONT></DIV> <DIV><FONT face=3DArial>FCN - B3</FONT></DIV> <DIV><FONT face=3DArial>FNBP - B7</FONT></DIV> <DIV><FONT face=3DArial>HBHC - LLUR?</FONT></DIV> <DIV><FONT face=3DArial>INVN - early stage LLUR below the = high</FONT></DIV> <DIV><FONT face=3DArial>NWRE - B3, in my VR Fund</FONT></DIV> <DIV><FONT face=3DArial>PORT - LLUR into a B3, volume declining, could = go either=20 way</FONT></DIV> <DIV><FONT face=3DArial>QCBC - B3</FONT></DIV> <DIV><FONT face=3DArial>QSII - B4</FONT></DIV> <DIV><FONT face=3DArial>SBMC - double bottom, volume declining, 2% over=20 pivot</FONT></DIV> <DIV><FONT face=3DArial>SFNT - unusual c&h</FONT></DIV> <DIV><FONT face=3DArial>SSNC - rough B6, in my VR Fund</FONT></DIV> <DIV><FONT face=3DArial>TRBS - fairly classic double bottom, handle=20 forming</FONT></DIV> <DIV><FONT face=3DArial>TRYF - B5</FONT></DIV> <DIV><FONT face=3DArial>WFMI - double bottom, sustained the b/o from = pivot on=20 center point, now at left rim of "W", both below recent = high</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Happy Hunting,</FONT></DIV> <DIV><IMG alt=3D"" hspace=3D0 = src=3D"cid:021201c24623$3c4e4f80$6501a8c0@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_0214_01C24601.B53F2080-- - ------=_NextPart_000_0213_01C24601.B53F2080 Content-Type: image/gif; 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