To: ggersh who wrote (20196 ) 5/6/2009 4:10:55 PM From: LTK007 1 Recommendation Read Replies (1) | Respond to of 71402 The past 2 months the greatest 2month rally in market in 34 years. With i little more rally it will be the strongest rally in a short time span for 79 years--that takes us bck the the GREAT HOPE rally of 1930.(We will discreetly avoid where the market was in mid 1932.) This the copy and past of what T.Rex posted yesterday, the news No One hears on the 'Happy Days Are Here Again', Financial Channels. <<UPDATE 1-U.S. industry group ISM sharply cuts '09 forecast Tue May 5, 2009 11:19am EDT By Pedro Nicolaci da Costa NEW YORK, May 5 (Reuters) - The Institute for Supply Management, a widely followed industry group, has sharply downgraded its 2009 projections for economic activity and investment in both manufacturing and services. ISM now expects a 22.7 percent drop in capital investment for U.S. factories this year, more than three times worse than its forecast in December for a 6.7 percent decline. The group also said in its semi-annual report on business, which was released on Tuesday, that non-manufacturing companies will see a 13.5 percent drop-off in new spending, far weaker than the 8.4 percent fall predicted in the last survey. "Economic decline (will) continue in the United States throughout the remainder of 2009," said the report, which is based on a survey of the nation's purchasing and supply executives. "Expectations for the remainder of 2009 have weakened in both the manufacturing and non-manufacturing sectors." Monthly ISM reports on both factories and services have shown signs of moderation in the pace of contraction. On Tuesday, the ISM non-manufacturing index climbed to its highest level since October. Anthony Nieves, chairman of the ISM non-manufacturing business survey committee, was cautious about what the latest reading indicates. "We need to see how this trends out over the next month or two," Nieves said. "It's a slower rate of contraction but still contraction." The U.S. economy shrank an annualized 6.1 percent in the first quarter, but many analysts expect a second-half recovery, albeit an anemic one. Part of the optimism comes from recent signs of stabilization in industry surveys like the one from the ISM. The semi-annual projections run counter to some of the less downbeat news emerging from the factory sector. (Reporting by Pedro Nicolaci da Costa, Burton Frierson and Nick Olivari; Editing by Chizu Nomiyama and Jeffrey Benkoe)>>