The Federal Reserve today reported Industrial Production for May. Production unexpectedly declined 0.2% from the prior month, which was worse than the forecast of a 0.1% increase. Manufacturing output was unchanged in May, the output of utilities shran…
This post is for those who appreciate a little irony.I have written two recent posts about trouble in the manufacturing sector. The first one discussed the Fed’s manufacturing report in mid-March and a couple of regional Fed surveys. The second post d…
In a post written over the weekend, I described why I thought the financials sector is now close to a bottom.What was implied but not fully elaborated on is the idea that different sectors will bottom at different times. This concept is certainly nothi…
Graham Corporation (GHM) is a company located almost in my backyard, so to speak, so it was with interest that I reviewed their third quarter earnings announcement this morning.Graham is a small-cap company in the industrial sector. They are an equipme…
Durable goods - the case for shorting industrials strengthens
I recently wrote a post describing what I saw as a weakness in manufacturing. That weakness, I felt, justified taking a position in the ProShares UltraShort Industrials ETF (SIJ). My timing for this trade was astonishingly bad as markets immediately st…
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