Friday, May 01, 2009

Manufacturing declines at slower rate in April

We are slowly slowing down to a moderating level of slowness. I said on Facebook back on Dec. 5, 2008 when the Dow was 8,635:

Thomas Pope predicts the Dow will bottom out at 5500 to 6500 between June and November 2009

I wonder how close I'll be. It's really starting to look like this will happen. Hey, if I don't toot my own horn, who will? Honestly, I have had doubts lately that I missed it when the Dow got down to nearly 6,500 on March 9 and has regain 1,500 since. But I still lean more to it correcting a few more times downward before it truly starts recovering. Really, nobody can predict these things, at least consistently. I think it's fun to try and at least it distracts me a little from the reality of the situation. Manufacturing declines at slower rate in April: "WASHINGTON – U.S. manufacturing activity contracted at a slower-than-expected pace in April, raising hopes that a steep plunge that began last fall may be moderating. The performance was driven by a rise in new orders reflecting higher business and consumer spending."

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