Re: [CANSLIM] Worley's Weekend Weeview

From: "NANCY POLCARO" <ZILLAGIRL@msn.com>
Subject: Re: [CANSLIM] Worley's Weekend Weeview
Date: Tue, 3 Sep 2002 17:26:08 -0700
Next Article (by Author): Re: [CANSLIM] CSTR CVH Failed breakouts Post Analysis "Tom Worley"
Previous Article (by Author): Re: [CANSLIM] WORLEY'S WATCHLIST WANNABES, timesaving "NANCY POLCARO"
Articles sorted by: [Date] [Author] [Subject]
- ------=_NextPart_001_0004_01C2536E.FDC74C40
Content-Type: text/plain; charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable

please disregard my previous email. I got this email ( which I believe co=
ntains the info) and this one didnt have to be opened. sorry nancy =20
 =20
- ----- Original Message -----
From: Tom Worley
Sent: Sunday, September 01, 2002 12:06 PM
To: CANSLIM
Subject: [CANSLIM] Worley's Weekend Weeview
 =20
ECONOMICS
Used home sales continued their strength, rising again 4.5% to 5.33 milli=
on units, while new home sales hit another new record, rising 6.7% to a r=
ecord 1.017 million unit annual level. New home sales also beat expectati=
ons of a decline. Used home sales were in line with expectations.
 =20
Durable Goods Orders also increased sharply and ahead of expectations, up=
 8.7% for July. Expectations were a rise of 1.4%. Even without the volati=
le transportation portion, the index was still up 3.9%. Automotive sales =
were the biggest single positive component.
 =20
Conference Board's consumer confidence index fell to 93.5 in August from =
97.4, while the Expectations index fell to 94.5 from 96.1. Survey was on =
5,000 households in the first weeks of August.
 =20
Revised 2nd Qtr GDP remains at 1.1%.
 =20
New claims for unemployment surged over 400,000 once again, worse than ex=
pected.
 =20
Meanwhile, the revised reading of Univ. of Michigan's Consumer Sentiment =
index for August slipped to 87.6 from 87.9, below expectations of 88. Cur=
rent conditions index also declined, while the expectations index rose sl=
ightly.
 =20
Chicago NAPM index rose nicely in August to 54.9 from 51.5 in July, even =
tho the employment component fell. Expectation was for 52. This was the 7=
th straight month of expansion.
 =20
Commerce Dept reports that personal spending in July jumped 1% while pers=
onal income was unchanged. Expectations were for rises of 0.8% and 0.3% r=
espectively. And Americans were saving 3.4% of their income, down from 4.=
2%.



"M"
August was the first month in five for the S&P500 to close positive, whil=
e the DOW continued its five month decline, and NASDAQ made its seventh m=
onth in a row to the negative. I am still operating on the assumption tha=
t we are in a bull rally (and weakening) within a continuing bear market.=
 Volume has remained consistently below average on all major indexes for =
4-5 weeks now, and normally would be expected to return to normal levels =
starting next week. However, with a number of important economic reports =
due out every day next week, and the anniversary of the 9/11 attack the f=
ollowing week, it will not surprise me to continue seeing light volume. T=
he Q3 preannouncement season will be starting soon as well. The decline l=
ast week put the NASDAQ back into a mild oversold condition, with the 10 =
day average of both up/down volume and new highs/lows both negative.  NYS=
E continues to look better, where it remains in an overbought condition, =
and the 10 day averages of up/down vol and new hi/low are positive. In bo=
th cases, the recent rally since 7/24 appears to be continuing to weaken.



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 constructiv=
e chart patterns that may be worth WATCHING and learning from (and of cou=
rse doing your own due diligence). I am employed in Operations by a US Br=
oker 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 empl=
oyer.
 =20
I typically list stocks with both RS and EPS ranking of 80 or better, and=
 try to exclude stocks undergoing any merger / acquisition / buyout scena=
rio. I no longer will actively consider earnings forecast for this year a=
nd next due the confusing data presented by DGO. I do no other due dilige=
nce, 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 wher=
e "x" is the # of weeks, IMO). I will also note LLUR (Lower Left Upper Ri=
ght) even though it is not exactly a CANSLIM pattern.
 =20
The population of stocks I am reviewing this weekend remains small, but s=
table. Unfortunately, I find very few decent charts to consider.
 =20
AF - c&h
BLUD - B2
BMI - c&h
CTSH - channeling
EPIQ - possible c&h forming, sold my margin position, still in my VR fund
ERES - poor double bottom
GPT - B2
HBHC - LLUR
HET - saucer
IBKC - B4
NYCB - B3
OCFC - c&h
SSNC - long sloppy base, in my VR Fund
SWBT - B3
TRBS - B4 on a double bottom
TTWO - c&h
 =20
Happy hunting,
 =20

Tom Worley
stkguru@bellsouth.net
AIM: TexWorley

- ------=_NextPart_001_0004_01C2536E.FDC74C40
Content-Type: text/html; charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable

<HTML><BODY BGCOLOR=3D"#ffffff" STYLE=3D"font:10pt verdana; border:none;b=
ackground-color:#ffffff; "><DIV>please disregard my previous email. I got=
 this email ( which I believe contains the info) and this one didnt have =
to be opened.&nbsp;sorry nancy&nbsp;</DIV> <DIV>&nbsp;</DIV> <BLOCKQUOTE =
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-=
LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"> <DIV style=3D"FONT: 10pt Ari=
al">----- Original Message -----</DIV> <DIV style=3D"BACKGROUND: #e4e4e4;=
 FONT: 10pt Arial; COLOR: black"><B>From:</B> Tom Worley</DIV> <DIV style=
=3D"FONT: 10pt Arial"><B>Sent:</B> Sunday, September 01, 2002 12:06 PM</D=
IV> <DIV style=3D"FONT: 10pt Arial"><B>To:</B> CANSLIM</DIV> <DIV style=3D=
"FONT: 10pt Arial"><B>Subject:</B> [CANSLIM] Worley's Weekend Weeview</DI=
V> <DIV>&nbsp;</DIV> <META content=3D"MSHTML 6.00.2719.2200" name=3DGENER=
ATOR> <STYLE></STYLE>  <DIV><FONT face=3DArial></FONT><FONT face=3DArial>=
<STRONG>ECONOMICS</STRONG></FONT></DIV> <DIV><FONT face=3DArial>Used home=
 sales continued their strength, rising again 4.5% to 5.33 million units,=
 while new home sales hit another new record, rising 6.7% to a record 1.0=
17 million unit annual level. New home sales also beat expectations of a =
decline. Used home sales were in line with expectations.</FONT></DIV> <DI=
V><FONT face=3DArial></FONT>&nbsp;</DIV> <DIV><FONT face=3DArial>Durable =
Goods Orders also increased sharply and ahead of expectations, up 8.7% fo=
r July. Expectations were a rise of 1.4%. Even without the volatile trans=
portation portion, the index was still up 3.9%. Automotive sales were the=
 biggest single positive component.</FONT></DIV> <DIV><FONT face=3DArial>=
</FONT>&nbsp;</DIV> <DIV><FONT face=3DArial>Conference Board's consumer c=
onfidence index fell to 93.5 in August from 97.4, while the Expectations =
index fell to 94.5 from 96.1. Survey was on 5,000 households in the first=
 weeks of August.</FONT></DIV> <DIV><FONT face=3DArial></FONT>&nbsp;</DIV=
> <DIV><FONT face=3DArial>Revised 2nd Qtr GDP remains at 1.1%.</FONT></DI=
V> <DIV><FONT face=3DArial></FONT>&nbsp;</DIV> <DIV><FONT face=3DArial>Ne=
w claims for unemployment surged over 400,000 once again, worse than expe=
cted.</FONT></DIV> <DIV><FONT face=3DArial></FONT>&nbsp;</DIV> <DIV><FONT=
 face=3DArial>Meanwhile, the revised reading of Univ. of Michigan's Consu=
mer Sentiment index for August slipped to 87.6 from 87.9, below expectati=
ons of 88. Current conditions index also declined, while the expectations=
 index rose slightly.</FONT></DIV> <DIV><FONT face=3DArial></FONT>&nbsp;<=
/DIV> <DIV><FONT face=3DArial>Chicago NAPM index rose nicely in August to=
 54.9 from 51.5 in July, even tho the employment component fell. Expectat=
ion was for 52. This was the 7th straight month of expansion.</FONT></DIV=
> <DIV><FONT face=3DArial></FONT>&nbsp;</DIV> <DIV><FONT face=3DArial>Com=
merce Dept reports that personal spending in July jumped 1% while persona=
l income was unchanged. Expectations were for rises of 0.8% and 0.3% resp=
ectively. And Americans were saving 3.4% of their income, down from 4.2%.=
</DIV> <DIV> <HR> </DIV> <DIV><STRONG>"M"</STRONG></DIV> <DIV>August was =
the first month in five for the S&amp;P500 to close positive, while the D=
OW continued its five month decline, and NASDAQ made its seventh month in=
 a row to the negative. I am still operating on the assumption that we ar=
e in a bull rally (and weakening) within a continuing bear market. Volume=
 has remained consistently below average on all major indexes for 4-5 wee=
ks now, and normally would be expected to return to normal levels startin=
g next week. However, with a number of important economic reports due out=
 every day next week, and the anniversary of the 9/11 attack the followin=
g week, it will not surprise me to continue seeing light volume. The Q3 p=
reannouncement season will be starting soon as well. The decline last wee=
k put the NASDAQ back into a mild oversold condition, with the 10 day ave=
rage of both up/down volume and new highs/lows both negative.&nbsp; NYSE =
continues to look better, where it remains in an overbought condition, an=
d the 10 day averages of up/down vol and new hi/low are positive. In both=
 cases, the recent rally since 7/24 appears to be continuing to weaken.</=
DIV> <DIV> <HR> </DIV></FONT> <DIV><FONT face=3DArial><STRONG>WORLEY'S WA=
TCHLIST WANNABES</STRONG>  <DIV><FONT face=3DArial>This list is in no way=
 intended to recommend any stocks to the group. It is a part of my regula=
r assessment of the health of CANSLIM's "M" and, as the name implies, onl=
y intended to identify some stocks with constructive chart patterns that =
may be worth <STRONG><FONT color=3D#ff0000>WATCHING</FONT> and learning f=
rom</STRONG> (and of course doing your own due diligence). <FONT color=3D=
#0000ff><STRONG><EM>I am employed in Operations by a US Broker Dealer, ho=
wever everything presented by me is strictly my own ideas and in no way s=
hould be taken to reflect the views or opinions of my employer.</EM></STR=
ONG></FONT></FONT></DIV> <DIV><FONT face=3DArial></FONT>&nbsp;</DIV> <DIV=
><FONT face=3DArial>I typically list stocks with both RS and EPS ranking =
of 80 or better, and try to exclude stocks undergoing any merger / acquis=
ition / buyout scenario. I&nbsp;no longer will&nbsp;actively consider&nbs=
p;earnings forecast for this year and next due the confusing data present=
ed by DGO. I do no other due diligence, that is your responsibility. I wi=
ll note any CANSLIM patterns I see, such as c&amp;h, double (or triple) b=
ottoms, or flat bases (shown as Bx where "x" is the # of weeks, IMO). I w=
ill also note LLUR (Lower Left Upper Right) even though it is not exactly=
 a CANSLIM pattern.</FONT></DIV> <DIV><FONT face=3DArial></FONT>&nbsp;</D=
IV> <DIV><FONT face=3DArial>The population of stocks I am reviewing this =
weekend remains small, but stable. Unfortunately, I find very few decent =
charts to consider.</FONT></DIV></FONT></DIV> <DIV><FONT face=3DArial></F=
ONT>&nbsp;</DIV> <DIV><FONT face=3DArial>AF - c&amp;h</FONT></DIV> <DIV><=
FONT face=3DArial>BLUD - B2</FONT></DIV> <DIV><FONT face=3DArial>BMI - c&=
amp;h</FONT></DIV> <DIV><FONT face=3DArial>CTSH - channeling</FONT></DIV>=
 <DIV><FONT face=3DArial>EPIQ - possible c&amp;h forming, sold my margin =
position, still in my VR fund</FONT></DIV> <DIV><FONT face=3DArial>ERES -=
 poor double bottom</FONT></DIV> <DIV><FONT face=3DArial>GPT - B2</FONT><=
/DIV> <DIV><FONT face=3DArial>HBHC - LLUR</FONT></DIV> <DIV><FONT face=3D=
Arial>HET - saucer</FONT></DIV> <DIV><FONT face=3DArial>IBKC - B4</FONT><=
/DIV> <DIV><FONT face=3DArial>NYCB - B3</FONT></DIV> <DIV><FONT face=3DAr=
ial>OCFC - c&amp;h</FONT></DIV> <DIV><FONT face=3DArial>SSNC - long slopp=
y base, in my VR Fund</FONT></DIV> <DIV><FONT face=3DArial>SWBT - B3</FON=
T></DIV> <DIV><FONT face=3DArial>TRBS - B4 on a double bottom</FONT></DIV=
> <DIV><FONT face=3DArial>TTWO - c&amp;h</FONT></DIV> <DIV><FONT face=3DA=
rial></FONT>&nbsp;</DIV> <DIV><FONT face=3DArial>Happy hunting,</FONT></D=
IV> <DIV>&nbsp;</DIV> <DIV><IMG height=3D32 alt=3D"" hspace=3D0 src=3D"ci=
d:011c01c251d8$e0a8a650$6501a8c0@TOMSBOX" width=3D28 align=3Dbaseline bor=
der=3D0></DIV> <DIV><FONT face=3DArial>Tom Worley<BR></FONT><A href=3D"ma=
ilto:stkguru@bellsouth.net"><FONT face=3DArial>stkguru@bellsouth.net</FON=
T></A><BR><FONT face=3DArial>AIM: TexWorley</FONT></DIV></BLOCKQUOTE></BO=
DY></HTML>

- ------=_NextPart_001_0004_01C2536E.FDC74C40--

- -
- -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.