From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #2603 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes canslim-digest Sunday, July 14 2002 Volume 02 : Number 2603 In this issue: RE: [CANSLIM] test disregard [CANSLIM] Mr. G Re: [CANSLIM] Too Much Building Re: [CANSLIM] Too Much Building Re: [CANSLIM] Too Much Building Re: [CANSLIM] Accounting stuff (off topic, sorta) Re: [CANSLIM] Accounting stuff (off topic, sorta) Re: [CANSLIM] Accounting stuff (off topic, sorta) RE: [CANSLIM] Accounting stuff (off topic, sorta) RE: [CANSLIM] M - fasten your seatbelt RE: [CANSLIM] Too Much Building Re: [CANSLIM] Accounting stuff (off topic, sorta) ---------------------------------------------------------------------- Date: Sun, 14 Jul 2002 07:46:27 -0500 From: "Hill, Ernie" Subject: RE: [CANSLIM] test disregard Unfortunately I have not been able to post files using Jeff's instructions. His instructions are for use with Netscape, I have Explorer, and I think my company blocks access to the FTP site. E -----Original Message----- From: Tom Worley [mailto:stkguru@bellsouth.net] Sent: Sunday, July 14, 2002 7:41 AM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] test disregard I never was very good at following instructions, Ernie. Too independent minded, I guess, thus never fit in properly as a broker pushing house stocks. You can attach small files (not sure of the size limit). After that you need to put them on the site per Jeff's instructions, then email us the address. - ----- Original Message ----- From: "Hill, Ernie" To: Sent: Sunday, July 14, 2002 8:30 AM Subject: RE: [CANSLIM] test disregard You don't follow instructions very well do you. I was not sure if it would work that's why I said disregard the test. Amazingly attaching the file was far simpler than the ways I had been trying to do it. I had it in my mind that we could not send attachments to this list E -----Original Message----- From: Tom Worley [mailto:stkguru@bellsouth.net] Sent: Sunday, July 14, 2002 7:09 AM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] test disregard wait a minute, Ernie. you want us to disregard the post when you finally succeed in getting the chart delivered? - ----- Original Message ----- From: "Hill, Ernie" To: Sent: Sunday, July 14, 2002 8:04 AM Subject: [CANSLIM] test disregard ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ****************************************************************** - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ****************************************************************** - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ****************************************************************** - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 10:49:34 -0400 From: "Tom Worley" Subject: [CANSLIM] Mr. G Alan Greenspan makes his semi-annual speech to Congress on monetary policy on Tuesday and Wednesday (Senate Banking committee on Tuesday, House Financial Services Committee on Wednesday). Inflation and economics will not be what the politicians will want to hear about, however, they will want reassurances that corporate accounting problems are being addressed and corrected, and the tumble in the stock markets will not undo the weak economic recovery to date. They will want to hear that business spending, on new equipment, new technology, on inventory, is about to begin. And they will want to have their hands held, and told that everything is now in order. Mr. G will try to cover much of this, but don't expect all concerns to be solved or resolved. Still, his presentations and influence could go a ways towards at least stabilizing this market, and helping put a bottom into it. Tom Worley stkguru@bellsouth.net AIM: TexWorley - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 10:04:04 -0500 From: "Alicia Lensing" Subject: Re: [CANSLIM] Too Much Building This is a multi-part message in MIME format. - ------=_NextPart_000_01C0_01C22B1D.C9322D70 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Gene: I, too, notice this in Dallas, and thought perhaps it was in part due = to the ravages of the telecom corridor in Richardson. However, just = last evening, we entertained a guest from Miami, as well as one from = NYC, and the subject of consumer spending arose. I feel like the = situation you mention is not confined to Dallas. Perhaps all the = refinane money has been spent, and shoppers are pulling in the reins. Alicia ----- Original Message -----=20 From: Gene Ricci=20 To: canslim@lists.xmission.com=20 Sent: Saturday, July 13, 2002 9:52 PM Subject: [CANSLIM] Too Much Building I've been looking around the Dallas area and all I see is opening of = new stores and malls. Of course the old ones are empty. An example is = COSTCO.... they have 2 stores about 7 miles apart and virtually brand = new... both have more help than customers. Looks like to thirst for = market share hasn't taken a back seat to profits. This 'glut' reminds of = the gas station on every corner, not too long ago. Is it just Dallas or = is this happening all over? =20 Gene - ------=_NextPart_000_01C0_01C22B1D.C9322D70 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Gene:
 
I, too, notice this = in=20 Dallas,  and thought perhaps it was in part due to the ravages = of the=20 telecom corridor in Richardson.  However, just last evening, we = entertained=20 a guest from Miami, as well as one from NYC, and the subject of consumer = spending arose.  I feel like the situation you mention is not = confined to=20 Dallas.  Perhaps all the refinane money has been spent, and = shoppers are=20 pulling in the reins.
 
Alicia
----- Original Message -----
From:=20 Gene = Ricci
To: canslim@lists.xmission.com =
Sent: Saturday, July 13, 2002 = 9:52=20 PM
Subject: [CANSLIM] Too Much=20 Building

I've been looking around the Dallas = area and=20 all I see is opening of new stores and malls. Of course the old ones = are=20 empty. An example is COSTCO.... they have 2 stores about 7 miles = apart=20 and virtually brand new... both have more help than customers. Looks = like to=20 thirst for market share hasn't taken a back seat to profits. This = 'glut'=20 reminds of the gas station on every corner, not too long ago. Is it = just=20 Dallas or is this happening all over?
 
Gene
- ------=_NextPart_000_01C0_01C22B1D.C9322D70-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 11:09:05 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Too Much Building This is a multi-part message in MIME format. - ------=_NextPart_000_04A2_01C22B26.DDE15940 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable I can comment on Miami (FL). Construction is still vibrant, even with = unemployment over the national average. Roads continue to be ripped up, = and already congested traffic further disrupted, as more and more fiber = optic cable continues to be laid. A Home Depot is being built only about = 4 miles from my home, will save me the longer trip to one about 9 miles = or so away. Location seems to me ideal, lots of apartment and high value = residential properties nearby. - ----- Original Message -----=20 From: Alicia Lensing=20 To: canslim@lists.xmission.com=20 Sent: Sunday, July 14, 2002 11:04 AM Subject: Re: [CANSLIM] Too Much Building Gene: I, too, notice this in Dallas, and thought perhaps it was in part due = to the ravages of the telecom corridor in Richardson. However, just = last evening, we entertained a guest from Miami, as well as one from = NYC, and the subject of consumer spending arose. I feel like the = situation you mention is not confined to Dallas. Perhaps all the = refinane money has been spent, and shoppers are pulling in the reins. Alicia ----- Original Message -----=20 From: Gene Ricci=20 To: canslim@lists.xmission.com=20 Sent: Saturday, July 13, 2002 9:52 PM Subject: [CANSLIM] Too Much Building I've been looking around the Dallas area and all I see is opening of = new stores and malls. Of course the old ones are empty. An example is = COSTCO.... they have 2 stores about 7 miles apart and virtually brand = new... both have more help than customers. Looks like to thirst for = market share hasn't taken a back seat to profits. This 'glut' reminds of = the gas station on every corner, not too long ago. Is it just Dallas or = is this happening all over? Gene - ------=_NextPart_000_04A2_01C22B26.DDE15940 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
I can comment on Miami (FL). Construction is = still=20 vibrant, even with unemployment over the national average. Roads = continue to be=20 ripped up, and already congested traffic further disrupted, as more and = more=20 fiber optic cable continues to be laid. A Home Depot is being built only = about 4=20 miles from my home, will save me the longer trip to one about 9 miles or = so=20 away. Location seems to me ideal, lots of apartment and high value = residential=20 properties nearby.
 
----- Original Message -----=20
From: Alicia = Lensing=20
Sent: Sunday, July 14, 2002 11:04 AM
Subject: Re: [CANSLIM] Too Much Building

Gene:
 
I, too, notice this = in=20 Dallas,  and thought perhaps it was in part due to the ravages = of the=20 telecom corridor in Richardson.  However, just last evening, we = entertained=20 a guest from Miami, as well as one from NYC, and the subject of consumer = spending arose.  I feel like the situation you mention is not = confined to=20 Dallas.  Perhaps all the refinane money has been spent, and = shoppers are=20 pulling in the reins.
 
Alicia
----- Original Message -----
From:=20 Gene = Ricci
Sent: Saturday, July 13, 2002 = 9:52=20 PM
Subject: [CANSLIM] Too Much=20 Building

I've been looking around the Dallas = area and=20 all I see is opening of new stores and malls. Of course the old ones = are=20 empty. An example is COSTCO.... they have 2 stores about 7 miles = apart=20 and virtually brand new... both have more help than customers. Looks = like to=20 thirst for market share hasn't taken a back seat to profits. This = 'glut'=20 reminds of the gas station on every corner, not too long ago. Is it = just=20 Dallas or is this happening all over?
 
Gene
- ------=_NextPart_000_04A2_01C22B26.DDE15940-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 09:47:32 -0700 (PDT) From: Kent Norman Subject: Re: [CANSLIM] Too Much Building Does anyone remember the apartment building boom? I think it was in the late '80s ? I remember driving past one project after another, Several friends made the same comment to the effect of "I can't see why they are still building when the can't fill the ones they already have". Then I watched as several projects were boarded up and it took about 10 years for the demand to catch up. Now In the Dallas/Fort Worth area, we have a Wallgreens and Eckerd on opposite corners similar to the way gas stations once were. Home Depot and Lowes are playing a similar game. I have 3 HDs and 2 Lowes within about a 6 mile radius. I went to the Lowes last night that is further from my house just because it has fewer shoppers at the checkouts and I don't have to wait in line. Regards Kent Norman - --- Tom Worley wrote: > I can comment on Miami (FL). Construction is still vibrant, even with > unemployment over the national average. Roads continue to be ripped > up, and already congested traffic further disrupted, as more and more > fiber optic cable continues to be laid. A Home Depot is being built > only about 4 miles from my home, will save me the longer trip to one > about 9 miles or so away. Location seems to me ideal, lots of > apartment and high value residential properties nearby. > > ----- Original Message ----- > From: Alicia Lensing > To: canslim@lists.xmission.com > Sent: Sunday, July 14, 2002 11:04 AM > Subject: Re: [CANSLIM] Too Much Building > > > Gene: > > I, too, notice this in Dallas, and thought perhaps it was in part > due to the ravages of the telecom corridor in Richardson. However, > just last evening, we entertained a guest from Miami, as well as one > from NYC, and the subject of consumer spending arose. I feel like > the situation you mention is not confined to Dallas. Perhaps all the > refinane money has been spent, and shoppers are pulling in the reins. > > Alicia > ----- Original Message ----- > From: Gene Ricci > To: canslim@lists.xmission.com > Sent: Saturday, July 13, 2002 9:52 PM > Subject: [CANSLIM] Too Much Building > > > I've been looking around the Dallas area and all I see is opening > of new stores and malls. Of course the old ones are empty. An example > is COSTCO.... they have 2 stores about 7 miles apart and virtually > brand new... both have more help than customers. Looks like to thirst > for market share hasn't taken a back seat to profits. This 'glut' > reminds of the gas station on every corner, not too long ago. Is it > just Dallas or is this happening all over? > > Gene > ===== Opportunities always look bigger going than coming. __________________________________________________ Do You Yahoo!? Yahoo! Autos - Get free new car price quotes http://autos.yahoo.com - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 13:44:13 EDT From: Spencer48@aol.com Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) Patrick (and respondees) This is a very interesting thread you started. For example, with the accounting scandals at WorldCom, Enron, etc. and all the auditors blaming the CFO's for not catching on to the sizzle of the cooked books (and vice versa), nothing that I've seen or heard (on TV or in periodicals) has explained any significant difference between what the CFO and the Auditor does. Tom did, and I thank him. This morning on a Fox news show, the previous SEC chairman (Levitt, I believe), said that: It isn't the fraudulent books that might be out there (99% of the companies are honest) that are scaring the markets. But what it is is that many companies (I believe he used Xerox as an example) legally and commonly exaggerate their earnings and obfuscate their books. What I understand him to be suggesting is that: Most of the publically held companies have no criminal intent to deceive the investor. But by using GAAP (Generally Accepted Accounting Practices), they are able to do an end run around honestly portraying their company. So while the SEC requires quarterly statements, the statements are not much good if the bottom line leads to the fabrication of the truth. Personally, I believe GAAP has been transmogrified into AAAP (Anything Accepted Accounting Procedures). jans In a message dated 7/13/2002 7:17:49 PM Eastern Daylight Time, stkguru@bellsouth.net writes: << I think you are referring to a new requirement that the CEOs and CFOs personally certify the accuracy of their Q3 financial reports. A false certification would be subject to criminal prosecution. ----- Original Message ----- From: "zillagirl" To: Sent: Saturday, July 13, 2002 6:54 PM Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) I heard that starting in August the law is different and these people and the CEOs will be breaking the new laws?? Didn't listen to all the details because I thought Id hear it again by then. I was wondering if a lot of these companies will try to restate to get in under the wire. ----- Original Message ----- From: "Duke Miller" To: Sent: Saturday, July 13, 2002 1:53 PM Subject: RE: [CANSLIM] Accounting stuff (off topic, sorta) > And, if you believe what we've seen lately in the press, the Andersen > auditors are going to the company's new accounting firms with the > account. The SAME auditor will be in charge of the audit! > > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com] On Behalf Of Winston Little > Sent: Saturday, July 13, 2002 2:56 PM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > Let us assume that the second house does a full audit. > How much confidence can one have that the second audit is "good"? The > rules for treatment of the financials do not appear to be absolute, thus > the second audit could just be as full of controversy as the first, > perhaps in different areas, as the popular sentiment for criticism > changes. > > > ----- Original Message ----- > From: "Patrick Wahl" > To: > Sent: Saturday, July 13, 2002 1:12 AM > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > > Do you blame them for wanting to do a full audit? > > > > On 12 Jul 2002 at 23:05, Tom Worley wrote: > > > > > cool way for the Big 4 to increase their revenues and potential > > > earnings (BTW, who audits the auditors??). This way they will be > > > able to charge > for > > > two full audits instead of just one, at the expense of the corps > > > (shareholders). > > >> - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 14:02:21 EDT From: Spencer48@aol.com Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) Tom: Is this a new regulation that has already been passed? And-if so-why would it only apply to a year's 3rd quarter-or does it just apply to the third quarter in 2002, not to subsequent third quarters? jans In a message dated 7/13/2002 9:35:07 PM Eastern Daylight Time, stkguru@bellsouth.net writes: << I think you are referring to a new requirement that the CEOs and CFOs > personally certify the accuracy of their Q3 financial reports. A false > certification would be subject to criminal prosecution. > >> - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 15:50:54 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) I only caught passing mention of it, but as I understand it, it starts with Q3, and applies thereafter (maybe not on Q4 since that is an audited quarter). Went into force during the Q2, so I guess they wanted to give them the rest of Q2, plus Q3, to "get right" with their accountants. - ----- Original Message ----- From: To: Sent: Sunday, July 14, 2002 2:02 PM Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) Tom: Is this a new regulation that has already been passed? And-if so-why would it only apply to a year's 3rd quarter-or does it just apply to the third quarter in 2002, not to subsequent third quarters? jans In a message dated 7/13/2002 9:35:07 PM Eastern Daylight Time, stkguru@bellsouth.net writes: << I think you are referring to a new requirement that the CEOs and CFOs > personally certify the accuracy of their Q3 financial reports. A false > certification would be subject to criminal prosecution. > >> - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 15:39:24 -0500 From: "Fred Richards" Subject: RE: [CANSLIM] Accounting stuff (off topic, sorta) This is a perfect example of a "feel-good" regulations that will prevent a lot of good and qualified people for refusing to take on the responsibility of being CEO's and/or CFO's. In fact, I already know of three CEO's who are top-notch and rather young who have been advised by their financial advisors to resign and retire before this terrible regulation goes into effect. At this point, at least two of them are submitting their letters of resignation. Over the last 20 years, a large number of my acquaintances and myself have refused to accept offers to be on public boards. Even with the liability insurance, it isn't worth the hassle. In the end, these types of "feel-good" will have the exact opposite effect. Qualified people will find it increasingly necessary to refrain from the potential financial and criminal exposure. As a result, you are left with candidates who are cronies, politically-correct figure-heads who haven't the faintest idea of what the business is about, and people who could not read a financial statement, interpret the accounting notes, and make a decision if there life depended upon it. - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of J. Lobatto Sent: Saturday, July 13, 2002 8:30 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) Have to admit I find this provision of the law fairly bizarre. How can a CEO or CFO of a huge corporation personally verify the accuracy of a financial report. Is he or she supposed to hire his own auditors to audit the report. If I were facing a possible criminal charge for false certification, I'd want to........ Jon - ----- Original Message ----- From: "Tom Worley" To: Sent: Saturday, July 13, 2002 6:56 PM Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > I think you are referring to a new requirement that the CEOs and CFOs > personally certify the accuracy of their Q3 financial reports. A false > certification would be subject to criminal prosecution. > > ----- Original Message ----- > From: "zillagirl" > To: > Sent: Saturday, July 13, 2002 6:54 PM > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > I heard that starting in August the law is different and these people and > the CEOs will be breaking the new laws?? Didn't listen to all the details > because I thought Id hear it again by then. I was wondering if a lot of > these companies will try to restate to get in under the wire. > ----- Original Message ----- > From: "Duke Miller" > To: > Sent: Saturday, July 13, 2002 1:53 PM > Subject: RE: [CANSLIM] Accounting stuff (off topic, sorta) > > > > And, if you believe what we've seen lately in the press, the Andersen > > auditors are going to the company's new accounting firms with the > > account. The SAME auditor will be in charge of the audit! > > > > -----Original Message----- > > From: owner-canslim@lists.xmission.com > > [mailto:owner-canslim@lists.xmission.com] On Behalf Of Winston Little > > Sent: Saturday, July 13, 2002 2:56 PM > > To: canslim@lists.xmission.com > > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > > > > Let us assume that the second house does a full audit. > > How much confidence can one have that the second audit is "good"? The > > rules for treatment of the financials do not appear to be absolute, thus > > the second audit could just be as full of controversy as the first, > > perhaps in different areas, as the popular sentiment for criticism > > changes. > > > > > > ----- Original Message ----- > > From: "Patrick Wahl" > > To: > > Sent: Saturday, July 13, 2002 1:12 AM > > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > > > > > Do you blame them for wanting to do a full audit? > > > > > > On 12 Jul 2002 at 23:05, Tom Worley wrote: > > > > > > > cool way for the Big 4 to increase their revenues and potential > > > > earnings (BTW, who audits the auditors??). This way they will be > > > > able to charge > > for > > > > two full audits instead of just one, at the expense of the corps > > > > (shareholders). > > > > > > > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or -"unsubscribe > > > canslim". Do not use quotes in your email. > > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 15:40:47 -0500 From: "Fred Richards" Subject: RE: [CANSLIM] M - fasten your seatbelt Well, I am betting with Ernie. Have been in cash since late June or short except for my long positions in gold stocks. At this point in the cycle, capital preservation is more important than capital appreciation! - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley Sent: Saturday, July 13, 2002 8:32 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] M - fasten your seatbelt sure hope you are wrong, Ernie, I am long and remaining so, fully invested and on margin. Sold one small position (last of my 4th trip on EPIQ) and already have buy orders in for Monday for that cash and the rest of my margin buying power. I see some evidence of a bottom forming, and with earnings starting next week, and very oversold conditions, I believe I can make some more money. Not an "M" for most, best to sit in cash and wait for the markets to confirm a bottom, as well as an uptrend (which may well not last). But I like being at the front of the pack, at least on the way up. - ----- Original Message ----- From: "Hill, Ernie" To: Cc: "'DanC'" Sent: Saturday, July 13, 2002 9:22 PM Subject: [CANSLIM] M - fasten your seatbelt Friends this forecast is made with trepidation. It is not influenced by anything that we have recently discussed or anyone else's work. This forecast comes purely from what I see in the Market from my own system. It is obvious that the last turn high forecast for the 7-15 turn window actually occurred on 7-8 at a price level of 993.59 roughly 5.5 points shy of the forecast level of 999. When a high turn comes early outside the turn window and short of the forecast target it is a signal that the market is very weak and that an acceleration of the decline is likely. The bounce that I am expecting is a common reaction to the "missed" turn window. Often when a turn comes early outside the window prices will bounce near the highest probability turn date. In this case 7-15. I have recently forecast the 964-968 level for the top of this bounce. After doing more work today it appears that the 946 level is an equally likely target for the top of this bounce. Look for these two key levels and expect the market to turn dramatically downward from one of them. This will likely happen Monday or Tuesday. From there the next low turn is due in the time window around 8-13 expect this turn to occur late in the window probably 8-15 or 8-16. My current target range for this low turn is 759-782. I know this is almost unthinkable. If my high bounce target of 964-968 is met this could be a 20% decline in a month. If you are long exercise extreme caution. Dan F enjoy yourself. I feel compelled to add a disclaimer. I am not an investment advisor. This is merely my opinion based on my observations of the market. Before making any investment decisions please seek out a competent investment advisor, someone like your spouse. E ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ****************************************************************** - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 15:43:54 -0500 From: "Fred Richards" Subject: RE: [CANSLIM] Too Much Building This is a multi-part message in MIME format. - ------=_NextPart_000_0036_01C22B4D.427C1720 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit Gene, Just look at how many gas stations Chevron has closed in the last two weeks in the DFW market. If the market is going up, why would you close them? -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Gene Ricci Sent: Saturday, July 13, 2002 9:52 PM To: canslim@lists.xmission.com Subject: [CANSLIM] Too Much Building I've been looking around the Dallas area and all I see is opening of new stores and malls. Of course the old ones are empty. An example is COSTCO.... they have 2 stores about 7 miles apart and virtually brand new... both have more help than customers. Looks like to thirst for market share hasn't taken a back seat to profits. This 'glut' reminds of the gas station on every corner, not too long ago. Is it just Dallas or is this happening all over? Gene - ------=_NextPart_000_0036_01C22B4D.427C1720 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Gene,
 
Just=20 look at how many gas stations Chevron has closed in the last two weeks = in the=20 DFW market.
 
If the=20 market is going up, why would you close them?
-----Original Message-----
From:=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]On Behalf Of Gene=20 Ricci
Sent: Saturday, July 13, 2002 9:52 PM
To:=20 canslim@lists.xmission.com
Subject: [CANSLIM] Too Much=20 Building

I've been looking around the Dallas = area and=20 all I see is opening of new stores and malls. Of course the old ones = are=20 empty. An example is COSTCO.... they have 2 stores about 7 miles = apart=20 and virtually brand new... both have more help than customers. Looks = like to=20 thirst for market share hasn't taken a back seat to profits. This = 'glut'=20 reminds of the gas station on every corner, not too long ago. Is it = just=20 Dallas or is this happening all over?
 
Gene
- ------=_NextPart_000_0036_01C22B4D.427C1720-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Sun, 14 Jul 2002 16:59:42 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) I agree, Fred, that this by itself only serves to keep the honest executives honest, while still exposing them to some future complaint or lawsuit or criminal prosecution because an accounting interpretation changes, or some underling was doing something illegal that the CEO or CFO couldn't detect (they can't be everywhere). Look at Barings, huge bank brought down by the illegal trading activity in Asia by one rogue trader. Would have been hard for the parent bank to know what was going on when the Asian subsidiary didn't. Fred, how about some specific suggestions of what you think should be changed or mandated, either as law or by accounting standards? - ----- Original Message ----- From: "Fred Richards" To: Sent: Sunday, July 14, 2002 4:39 PM Subject: RE: [CANSLIM] Accounting stuff (off topic, sorta) This is a perfect example of a "feel-good" regulations that will prevent a lot of good and qualified people for refusing to take on the responsibility of being CEO's and/or CFO's. In fact, I already know of three CEO's who are top-notch and rather young who have been advised by their financial advisors to resign and retire before this terrible regulation goes into effect. At this point, at least two of them are submitting their letters of resignation. Over the last 20 years, a large number of my acquaintances and myself have refused to accept offers to be on public boards. Even with the liability insurance, it isn't worth the hassle. In the end, these types of "feel-good" will have the exact opposite effect. Qualified people will find it increasingly necessary to refrain from the potential financial and criminal exposure. As a result, you are left with candidates who are cronies, politically-correct figure-heads who haven't the faintest idea of what the business is about, and people who could not read a financial statement, interpret the accounting notes, and make a decision if there life depended upon it. - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of J. Lobatto Sent: Saturday, July 13, 2002 8:30 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) Have to admit I find this provision of the law fairly bizarre. How can a CEO or CFO of a huge corporation personally verify the accuracy of a financial report. Is he or she supposed to hire his own auditors to audit the report. If I were facing a possible criminal charge for false certification, I'd want to........ Jon - ----- Original Message ----- From: "Tom Worley" To: Sent: Saturday, July 13, 2002 6:56 PM Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > I think you are referring to a new requirement that the CEOs and CFOs > personally certify the accuracy of their Q3 financial reports. A false > certification would be subject to criminal prosecution. > > ----- Original Message ----- > From: "zillagirl" > To: > Sent: Saturday, July 13, 2002 6:54 PM > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > I heard that starting in August the law is different and these people and > the CEOs will be breaking the new laws?? Didn't listen to all the details > because I thought Id hear it again by then. I was wondering if a lot of > these companies will try to restate to get in under the wire. > ----- Original Message ----- > From: "Duke Miller" > To: > Sent: Saturday, July 13, 2002 1:53 PM > Subject: RE: [CANSLIM] Accounting stuff (off topic, sorta) > > > > And, if you believe what we've seen lately in the press, the Andersen > > auditors are going to the company's new accounting firms with the > > account. The SAME auditor will be in charge of the audit! > > > > -----Original Message----- > > From: owner-canslim@lists.xmission.com > > [mailto:owner-canslim@lists.xmission.com] On Behalf Of Winston Little > > Sent: Saturday, July 13, 2002 2:56 PM > > To: canslim@lists.xmission.com > > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > > > > Let us assume that the second house does a full audit. > > How much confidence can one have that the second audit is "good"? The > > rules for treatment of the financials do not appear to be absolute, thus > > the second audit could just be as full of controversy as the first, > > perhaps in different areas, as the popular sentiment for criticism > > changes. > > > > > > ----- Original Message ----- > > From: "Patrick Wahl" > > To: > > Sent: Saturday, July 13, 2002 1:12 AM > > Subject: Re: [CANSLIM] Accounting stuff (off topic, sorta) > > > > > > > Do you blame them for wanting to do a full audit? > > > > > > On 12 Jul 2002 at 23:05, Tom Worley wrote: > > > > > > > cool way for the Big 4 to increase their revenues and potential > > > > earnings (BTW, who audits the auditors??). This way they will be > > > > able to charge > > for > > > > two full audits instead of just one, at the expense of the corps > > > > (shareholders). > > > > > > > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or -"unsubscribe > > > canslim". Do not use quotes in your email. > > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ End of canslim-digest V2 #2603 ****************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. For information on digests or retrieving files and old messages send "help" to the same address. Do not use quotes in your message.