“Davidson” submits:
Industrial Production (IndPro) continues to display a dramatic counter intuitive market signal vs manufacturing PMI. IndPro is holding at elevated levels while the manufacturing PMI is continuing to give a diametrically opposite and highly pessimistic reading of the manufacturing sector. The individual companies that are portfolio suggestions have provided ample evidence the past 30mos that the high level of the IndPro is the correct signal to follow. I continue to strongly suggest these individual companies as each has an exceptional management pool with proven success in their respective sectors. To a company, each has provided a series of upside surprise earnings reports with improved guidance. I continue to expect a significant turn by investors to the industrial and energy sectors as economic evidence continues to emerge of solid economic growth in the US the next few months.
