What's going on in the economy? Durable Factory orders up in February. (UPDATE)
For the first time in a long time Factory Orders were up in February and many are trying to figure out if it is a real move showing we have bottomed. Well, I can tell you first hand it is real for the following reason. Every Monday and Tuesday for the past 3 months I have been counting the number of trucks I see on the highways on the way to my clients. I wrote about this on my Blog a while ago. I have been telling select friends over the past 4 weeks I have seen a doubling of trucks on these same highways and that I believe orders had to be going up as business activity was increasing. In the beginning I saw no Construction trucks but now I do see some although not many. Most trucks are moving goods from suppliers as their names are often on the sides of the trucks.
Will this trend continue? I don't know but it has both Monday and Tuesday this week. We will take all the good news we can. Maybe when we along with others bought a new refrigerator a month and a half ago helped create an order for a new one.:) May the force be with us!
The market reaction at the open is up 77 on the Dow, wiping out half of yesterday's losses. You see there is the start of good news just like President Obama said. Now let's pass his budget so we continue to implement those things we voted for him to change!
UPDATE 7:00AM PST
I checked and saw that the Put to Call ratio has not closed now over 1.00 since March 5th, so we have settled in a lower range and more normal looking at the history since 2001. The Put to Call ratio closed yesterday at 0.76
Also wanted to update you all, I added shares of the triple play FAS again late yesterday and early morning after the open. This Banking Index triple play was in a range of $20-$30/share back only 4 months ago and if the market recovers back to 9,000 on the Dow led by Banking stocks, this will return 3-5 times your money. It is risky so be very careful about your risk tolerance. My average price now is about $6.50/share.
Will this trend continue? I don't know but it has both Monday and Tuesday this week. We will take all the good news we can. Maybe when we along with others bought a new refrigerator a month and a half ago helped create an order for a new one.:) May the force be with us!
The market reaction at the open is up 77 on the Dow, wiping out half of yesterday's losses. You see there is the start of good news just like President Obama said. Now let's pass his budget so we continue to implement those things we voted for him to change!
UPDATE 7:00AM PST
I checked and saw that the Put to Call ratio has not closed now over 1.00 since March 5th, so we have settled in a lower range and more normal looking at the history since 2001. The Put to Call ratio closed yesterday at 0.76
Also wanted to update you all, I added shares of the triple play FAS again late yesterday and early morning after the open. This Banking Index triple play was in a range of $20-$30/share back only 4 months ago and if the market recovers back to 9,000 on the Dow led by Banking stocks, this will return 3-5 times your money. It is risky so be very careful about your risk tolerance. My average price now is about $6.50/share.
Labels: Factory orders, market reaction, pass the budget, President Obama, stock market, trucks
posted by Charles Amico at 6:22 AM
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