Hi Keith,
The numbers look terrible, but that is what everyone
expected. The only good spin they can put on it is that
the rate of decline in bookings has slowed. They can also
try to emphasis the fact that these are old numbers and if
a change is occurring it may not be showing up yet.
Shipments % Bookings % Book-to-Bill
change change
December 2000 2,389.5 2,372.3 0.99
January 2001 2,308.4 4 1,854.2 28 0.80
February 2001 2,279.3 1 1,610.9 15 0.71
March 2001 (final) 2,020.2 13 1,197.3 35 0.59
April 2001 (revised) 1,657.2 22 722.9 66 0.44
May 2001 (prelim.) 1,515.2 9 704.4 3 0.46
I found this on another thread. It adds a bit of more color.
messages.yahoo.com
From a practical perspective, I would guess that the market
will sell off some time tommorow. Tommorow will be day
three of the current COMPX rally. Most rallies do not last
more than three days in a row. The FED meeting is next
week, so traders will move to the sideline in advance of
this. They have some pretty decent gains the last few days,
so time to book them in case the Fed disappoints.
Currently, my COMPX system indicates that we are near term
overbought. I don't have an aggressive sell though, just
expecting profit taking. A break of 2000 would signal a
possible visit to the April low as the support at 1980 will
surely by tested and probably break given the current rash
of earning misses. |
