Powered by Minyanville: Durable Goods
June 25, 2008- The Commerce Department said this morning durable goods order came in unchanged for the month of May inline with estimates. Less transportation, orders fell -0.9% vs. expectations of -1.0%. April orders were revised downward to show a -1.0% drop, larger than previously estimated. According to Bloomberg, metals, automobiles, and machinery saw decreases in demand but those declines were offset by gains in computers, appliances, aircraft and defense equipment. Durables are expensive goods made to last at least three years
From the Bull Pen
Bulls might consider an upside play in Corning (GLW), as it approaches $24 which is the 50% retracement level from its May high. Sell-stops can be set below.
Just a bullish try!
$25.52 (04/25/08)
