This Market is “Enchanting”

Wow. Just got back in after doing a road show, and saw the ISM number came in at 40.1 for April. This leading indicator is significantly higher off the (“bottom”?) December number of 32.9. (For you illiterates, a reading under 50 is indicative of economic contraction.)

Should the May number break above 41, that could be a sign that we could be getting closer to a quarterly GDP growth number. Odd, no?

This is a “less bad” number and would indicate that buying the dips might be a good strategy here.

Just saying…….

Have a good weekend!