Re: [CANSLIM] pmi

From: "Winston Little" <wlittle1@peoplepc.com>
Subject: Re: [CANSLIM] pmi
Date: Mon, 30 Sep 2002 14:12:43 -0400

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I see the data, but from a simple minded approach am surprised that they are
not lower.

Why?
Overnight Fed. funds are nominally at 1.75% ( 1.80% in practice).
One  year T-bills are 1.70%, so unless one could offer collateral of five
quarters for every $1 bill that one wanted to borrow at a bank, one would
not qualify for a loan to buy equipment, goods or expand.
Money is TIGHT!
It is only available to those who do not need it.
This posture has been in place since  year 2000, as our Fed.Chairman fights
"inflation" like Don Quixote.

- ----- Original Message -----
From: "Patrick Wahl" <pjwahl@attbi.com>
To: <canslim@lists.xmission.com>
Sent: Monday, September 30, 2002 10:10 AM
Subject: [CANSLIM] pmi


> This can't be a good thing, the report from cbs marketwatch on the Chicago
> Purchasing Manger's Index, released at 10 am today -
>
> Chicago PMI at weakest mark since January By Rachel Koning
> A measure of factory sector activity in the Chicago region fell to 48.1 in
> September from 54.9 in August. The index is at its lowest mark since 45.1
in
> January. A reading below 50 signifies a contration in activity, while a
reading
> over that mark shows expansion. Economists had looked for a reading above
> 50 for September. The prices paid index fell to 57.6 in September from
63.6 in
> August.
>
>
> -
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