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Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!

Tuesday, May 01, 2007

Economic Quickie

The Inst. For Supply Mgmt. report on manufacturing turned
up sharply in April, signaling faster growth in this sector.
Most interesting was the very large increase in the breadth
of companies experiencing higher new order flow. This ISM
report can be volatile, so the very positive turn in the data
could be a fluke. However, since I use the ISM new orders indices
as leading indicators, I'll take it as a heads up on a possible
turn in manufacturing. The jump in new order breadth for April
breaks a downtrend underway for some time.

The ISM site is worth a tour. www.ism.ws

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