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To: Johnny Canuck who wrote (45773)	7/18/2009 2:45:23 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 68391

HI Harry: The NYSEBP moved positive on Friday (X's). The COMPBP has a ways to go before it turns positive. One also has to respect the S&P at this level, I think its "hounding" and telling us higher levels are in store (I would expect a pull back next week to alleviate some of last weeks run). I'm only eying gold and oil, no tech. As for Cramers comments on an equipment maker like NVLS I though INTC's guidance was lower guidance on equipment purchasing (not sure if this is due to lower pricing or less equipment). SNDK benefits from licensing revenue.

To: Johnny Canuck who wrote (45773)	7/20/2009 6:05:34 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68391

Economic Report Jul 20, 2009, 12:02 a.m. EST Most firms see slow recovery, NABE survey says Demand stabilizing, but few companies plan to hire workers Explore related topics Computer Hardware Industrial, Equipment Washington DC Story Comments Screener (51) Alert Email Print Share By Rex Nutting, MarketWatch AMMAN, Jordan (MarketWatch) -- The severe U.S. recession is slowly abating, but most companies are still cutting costs, and few have immediate plans to hire more workers or increase their capital spending, according to a quarterly survey released Monday in Washington by the National Association for Business Economics. Demand appears to be stabilizing after severe declines over the past four quarters, said Sara Johnson, an economist for IHS Global Insight, who helped analyze the survey results for the NABE, a professional organization for economists. The industry demand net rising index improved to negative 5 in the second quarter, compared with negative 14 in the first quarter and a record-low negative 28 in the fourth quarter of 2008. The index has been below zero for four straight quarters, the longest such stretch in its 27-year history. About half (45%) of the companies said their sales have already bottomed, with nearly as many (41%) believing sales will bottom in the second half of the year. The remainder don't see sales rising until 2010. The survey incorporated responses of 102 NABE members, generally larger companies that have a dedicated economist on staff. Firms in the financial sector and in the services industry were more likely to report rising sales than firms in the goods-producing, transportation, utility or communication sectors. Employment The number of firms reducing employment fell in the second quarter compared with the first quarter, but so did the number of those hiring. In the second quarter, a record-low 6% of firms said they increased their workforce, while 36% said they had cut jobs. All sectors reported more firing than hiring. Looking ahead, 28% of firms said they planned further job cuts in the next six months, while 18% said they planned to increase employment. For just the second time in the survey's history (the first time was in the first quarter of this year), more firms said they had cut wages and salaries than said they had raised workers' pay. Eighteen percent of firms said wages were falling, compared with 10% with rising employment costs. Capital spending Business investment took a step back in the second quarter, the survey said, with just 8% of firms reporting higher capital-spending levels, and 32% reporting falling capital spending. Not one goods-producing company reported higher capital spending. The spending outlook improved marginally, although more firms still said they planned to decrease capital spending. In the second quarter, 26% said they planned to increase capital spending in the next 12 months, compared with 32% who said they planned decreases. Capital spending plans were more robust for communications and computer equipment, and were very weak for structures. Rex Nutting is Washington bureau chief of MarketWatch.