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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (12621)	10/1/2004 10:40:13 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

U.S. Sept. ISM factory index 58.5% vs 58.4% expected Friday, October 1, 2004 2:20:04 PM afxpress.com WASHINGTON (AFX) -- Factory activity in the United States decelerated in September, the Institute for Supply Management reported Friday. The ISM index fell to 58.5 percent in September from 59.0 percent in August. The decline was in line with expectations. The consensus forecast of estimates collected by CBS Marketwatch was for the index to slip to 58.4. Readings above 50 indicate expansion. New orders fell to 58.1 in September from 61.2 in August. The employment index rose to 58.1 in September from 55.7 in August ====================================================================== So we are employing more people as orders are declining. Brilliant move. All part of the "soft patch" theory I guess. Aren't inventories already high enough? I guess not Mish

To: Knighty Tin who wrote (12621)	10/1/2004 10:43:54 AM
From: mishedlo	Respond to of 116555

U.S. Aug. construction outlays up 0.8% v. 0.4% expected Friday, October 1, 2004 2:15:46 PM afxpress.com WASHINGTON (AFX) - A surge of homebuilding pushed total outlays for construction projects up by a better-than-expected 0.8 percent in August, the Commerce Department said Friday. Outlays in July were also revised much higher, to a 1.1 percent gain from 0.4 percent previously. Economists were expecting a smaller gain of 0.4 percent in August. With the revisions in July, August outlays were 1.4 percent higher than expected. Homebuilding was particularly strong in August, growing 1.7 percent to a record $550.6 billion annualized after a 0.6 percent gain in July.

To: Knighty Tin who wrote (12621)	10/1/2004 11:07:07 AM
From: mishedlo	Respond to of 116555

From Dave Meger head metals broker at Alaron via email It is now the end of September and as expected gold and silver have rallied significantly off their expected late July / early August lows. Dec gold made a low of 387.50 on July 29th Dec silver made a low of 6.15 on July 28th As of today's close (Sept 30th) Dec gold $420.40 Dec silver $6.938 The last several days have seen marked gains in gold and silver, and bode well for our long bias. I do not want to imply anything, but a strong bias for gold and silver into mid-January, but my original strategy called for an exit by the end of Sept / 1st week of Oct. Profit-taking into rallies and trailing stops is recommended as of today (9/30). ========================================================================== Mish note Dave is looking to get back in at start of NOV (assuming his trailing stops get hit now)