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U.S. Durable Goods Orders Increase 4.9% on Aircraft (Update2)

By Courtney Schlisserman

Aug. 26 (Bloomberg) -- Orders for U.S. goods meant to last several years jumped in July by the most in two years, stoked by a surge in demand for aircraft and communications equipment.

Bookings for durable goods climbed 4.9 percent, exceeding forecasts and the most since July 2007, the Commerce Department said today in Washington. Excluding transportation gear, orders increased 0.8 percent, a third consecutive gain.

The administration’s $3 billion “cash-for-clunkers” plan has revived sales, indicating manufacturers such as General Motors Co. and Ford Motor Co. may soon be flooded with orders to restock depleted inventories. That may also give related industries a jolt, leading to a factory rebound that will help the economy emerge from the worst recession since the 1930s.

“We have modest growth in demand in an environment of depleted inventories, and that will coax new output,” said David Resler, chief economist at Nomura Securities International Inc. in New York, who had forecast orders would rise 4.4 percent. Improving conditions for manufacturers “will hopefully generate smaller declines in jobs in this sector.”

Futures on the Standard & Poor’s 500 Index were down 0.1 percent to 1,024.80 at 9:02 a.m. in New York.

Economists forecast durable goods orders would increase 3 percent after a previously reported 2.2 percent decline for June, according to the median of 72 projections in a Bloomberg News survey. Estimates ranged from gains of 0.7 percent to 8 percent.

Aircraft, Automobiles

Outside of transportation, bookings were expected to increase 0.9 percent, according to the Bloomberg survey.

Demand for aircraft, which is often volatile, surged 107 percent in July after falling 30 percent the prior month.

Automobile orders increased 0.9 percent after a 0.2 percent decrease in June. Factories at General Motors Co. and Chrysler Group LLC resumed production after exiting bankruptcy proceedings. Also, plants boosted output to meet demand from the government’s cash-for-clunkers trade-in program, which ended Aug. 24.

The clunkers program offered auto buyers discounts of as much as $4,500 to trade in older cars and trucks for new, more fuel-efficient vehicles. J.D. Power & Associates forecast new- vehicle retail sales will probably top 1 million this month for the first time in the past year and GM last week said it called back 1,350 union workers as it boosts second-half production, partly in response to demand from the government’s program.

Short-Lived Gains

Some economists warn the gains in production from the auto program may be short-lived.

“We borrowed heavily from future activity,” said Michael Moran, chief economist at Daiwa Securities America Inc. in New York. “I think you need to see numbers for September and October before you can draw any conclusions about its success.”

Orders excluding defense equipment increased 4.3 percent.

Bookings for non-defense capital goods excluding aircraft, a proxy for future business investment, fell 0.3 percent after a revised 3.6 percent gain the prior month that was a percentage point larger than previously estimated. Shipments of these items, a measure used in calculating gross domestic product, climbed 0.5 percent, a second consecutive gain.

Demand for communications gear jumped 9.4 percent, the biggest increase since the recession began in December 2007.

Inventory Cutbacks

Cutbacks in inventories in the first half of the year helped set the stage for growth. Stockpiles dropped at a record $141.1 billion annual pace in the second quarter after a $113.9 billion decline the first three months of the year.

Companies reduced inventories of durable goods by 0.8 percent after dropping 1.5 percent in June, according to today’s report.

Recovery from the worst recession since the 1930s probably has begun, according to a survey of economists taken by Bloomberg News earlier this month. The economy will expand 2 percent or more in four straight quarters through June, the first such streak in more than four years, according to the poll.

Federal Reserve Chairman Ben S. Bernanke, nominated yesterday for a second term, pledged to work toward restoring stability to financial markets and the economy. He said Aug. 21 that the world economy is beginning to emerge from the recession after “aggressive” action by central banks and government.

‘Leveling Out’

“Economic activity appears to be leveling out, both in the United States and abroad, and the prospects for a return to growth in the near term appear good,” Bernanke said in a speech at the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming. At the same time, he said, “critical” challenges remain including possible further losses for financial firms.

Today’s report compares with regional measures showing manufacturing improved this month. The Fed Bank of Philadelphia’s general economic index expanded in August for the first time in almost a year. The New York Fed measure showed growth for the first time since April 2008 and was the highest since November 2007.

EnerSys, a Reading, Pennsylvania-based maker of industrial batteries, this month reported earnings that exceeded analyst estimates, and gave profit projections for the current quarter that also are above the average estimate of analysts.

‘Stable’ Orders

“Recently, we have experienced stable incoming order rates, which lead us to believe that we may have reached the bottom of the declining order patterns we had been experiencing,” John Craig, chief executive officer, said in a statement on Aug. 5.

Manufacturing nationwide accounts for about 12 percent of the $14.1 trillion U.S. economy, the world’s largest.

Some companies continue to suffer.

Caterpillar Inc., the world’s largest maker of construction equipment, said Aug. 20 that declines in sales of machinery to its retailers accelerated in July. Deere & Co., the world’s largest maker of farm equipment, lowered its sales forecast for 2009 amid declining demand for lawn and construction machinery.

To contact the reporter on this story: Courtney Schlisserman in Washington cschlisserma@bloomberg.net Last Updated: August 26, 2009 09:15 EDT

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U.S. Stocks Pare Losses After New-Home Sales Beat Estimates

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By Nick Baker

Aug. 26 (Bloomberg) -- U.S. stocks pared losses after new home sales increased more than economists forecast.

The Standard & Poor’s 500 Index fell 0.1 percent to 1,026.87 at 10:02 a.m. in New York after declining as much as 0.6 percent. Last Updated: August 26, 2009 10:03 EDT

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Patience has its virtues.

Congrats especially to those who followed my postings and chart analysis and dared to buy since last few days when it presents many good opportunities when it bounced off the 15ema and 25ema with tight stop-loss if it close below the 25ema or 65ema.

Peronally, I will exit if it breaks and closed below the 25ema for 2 continuous days and the 3rd day, there is no reversal sign or bullish harami

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U bet!! It sure is, waiting for tat bomb to drop when the plug is pulled, when ?? anybody's guess.

jing77 ( Date: 26-Aug-2009 16:51) Posted:

omg..ppl so overly optimistic.. upgrading their target price again n again.. wonder is it the danger signal.. =)

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I interpret your drop to mean close "minus" EOD, very misleading ambiguous term, a cunning play with words

richtan ( Date: 26-Aug-2009 18:39) Posted:

Yes, it dropped a little, but still, net up for the day, still good leh

richtan ( Date: 26-Aug-2009 18:35) Posted:

Is this your hint b4 break: "If u take profit now u win. Afternoon, It "might" drop", but no leh, your hint dun seems right leh, it did not "might" drop leh but instead it up leh

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Yes, it dropped a little, but still, net up for the day, still good leh

richtan ( Date: 26-Aug-2009 18:35) Posted:

Is this your hint b4 break: "If u take profit now u win. Afternoon, It "might" drop", but no leh, your hint dun seems right leh, it did not "might" drop leh but instead it up leh.

risktaker ( Date: 26-Aug-2009 15:05) Posted:

already hinted before break .... sig

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Is this your hint b4 break: "If u take profit now u win. Afternoon, It "might" drop", but no leh, your hint dun seems right leh, it did not "might" drop leh but instead it up leh.

risktaker ( Date: 26-Aug-2009 15:05) Posted:

already hinted before break .... sigh

richtan ( Date: 26-Aug-2009 15:00) Posted:

Patience has its virtues.

Volume had exceeded yesterday's volume and Trade Summary shows heavy buy-up.

Congrats especially to those who followed my postings and chart analysis and dared to buy since last few days when it presents many good opportunities when it bounced off the 15ema and 25ema with tight stop-loss if it close below the 25ema or 65ema.

Peronally, I will exit if it breaks and closed below the 25ema for 2 continuous days and the 3rd day, there is no reversal sign or bullish harami

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Ooops, sorry, should rephrase:

Maybe u should say "If u take profit now u might win or u might make less. Afternoon, It "might" drop but also it "might not" drop"

richtan ( Date: 26-Aug-2009 18:31) Posted:

Maybe u should say "If u take profit now u win or u might make less. Afternoon, It "might" drop but also it "might not" drop"

risktaker ( Date: 26-Aug-2009 10:51) Posted:

if u take profit now u win. Afternoon it "might" drop ..... if u want reasons. U can PM once it drop

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Maybe u should say "If u take profit now u win or u might make less. Afternoon, It "might" drop but also it "might not" drop"

risktaker ( Date: 26-Aug-2009 10:51) Posted:

if u take profit now u win. Afternoon it "might" drop ..... if u want reasons. U can PM once it drop.

richtan ( Date: 26-Aug-2009 10:45) Posted:

Patience has its virtues and proves all those naysayers tat bad-mouthed Midas wrong.

Volume had exceeded yesterday's volume within less than 2 hours of trade and Trade Summary shows heavy buy-up.

Congrats especially to those who followed my postings and chart analysis and dared to buy since last few days when it presents many good opportunities when it bounced off the 15ema and 25ema with tight stop-loss if it close below the 25ema or 65ema.

Peronally, I will exit if it breaks and closed below the 65ema for 2 continuous days and the 3rd day, there is no reversal sign or bullish harami

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Patience has its virtues.

Volume had exceeded yesterday's volume and Trade Summary shows heavy buy-up.

Congrats especially to those who followed my postings and chart analysis and dared to buy since last few days when it presents many good opportunities when it bounced off the 15ema and 25ema with tight stop-loss if it close below the 25ema or 65ema.

Peronally, I will exit if it breaks and closed below the 25ema for 2 continuous days and the 3rd day, there is no reversal sign or bullish harami

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Yes, let's HUAT together, but also be on the alert, never throw caution to the wind

bennykusman ( Date: 26-Aug-2009 12:36) Posted:

huat

richtan ( Date: 26-Aug-2009 12:18) Posted:

Volume had aredi exceeded yesterday's volume within half day's trading with extremely humogous buy-up:

5GJ (AusGroup)

WEIGHTED AVG PRICE : 0.6542 LAST DONE PRICE : 0.655

SPREAD/PRICE RATIO : 0.0000 AVG TRADE SIZE : 61.01

< />

Last Trades Vol BuyVol Mid SellVol

0.640 17 1,387 1,249 0 138

0.645 125 5,078 2,295 0 2,783

0.650 29 3,604 678 0 2,926

0.655 33 6,523 1,917 0 4,606

0.660 280 12,937 0 0 12,937

TOTAL 484 29,529 6,139 0 23,390

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Hi Bintang,

Many thanks for your good wishes, same to u for your counters.

Lets HUAT together.

Bintang ( Date: 26-Aug-2009 14:51) Posted:

Yes 66 , in hokkien is luck luck , n wish u good luck , richtan .

richtan ( Date: 26-Aug-2009 14:02) Posted:

Broke 0.6

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U have to ask yourself, do u want to stomach the risk or prefer to accumulate your wealth gradually with lesser risk.

High risk, high return but can also be high losses.

JJSeng ( Date: 26-Aug-2009 14:36) Posted:

Hi Richtan, totally agreed with you. I am just compairing with Genting SP, because it's moving very fast as compare with Midas. High risk high return.

richtan ( Date: 26-Aug-2009 14:13) Posted:

Only those with "genuine??" divine powers will be able to tell u by when, n dun believe them. stay far, far away from them.

To succeed in trading, I always said:

"Learn to master TA n u are the master of your own trades."

"Learn how to fish n u can fend for yourself forever, relying on others n forever u r dependent on others n at their mercy"

"There is no easy way n short-cut to success in life, including trading, all are own hardwork, u need to learn the tools of the trade"

U can download the free charting software from www.chartnexus.com (no need to get the paid version, all these can be self-learn, dun waste your money, instead self-learn the skills n use tat money to trade).

I self-learnt, see how analysts do it and practice by covering up the candles and test my knowledge and hone my skills
till I m quite confident b4 start trading bcos the mkt is merciless, I rather save the money to trade and multiply it.

Those TA courses, wat they teach, all are from books, nothing new.

For those paid software,even after the software scan, still need our analysis, cannot assume it is 100% correct, as nothing can replace the human brain and knowledge as analysis is an art of how individual interpret, no matter how much they input all the scientific knowledge into the software

If u are not sure, post your charts n hopefully some forumers good in TA will exchange pointers with u.

To know how to post, search the forum for "tinypic.com"

To succeed in trading, my sincere n genuine advice to newbies:

"Learn to master TA n u are the master of your own trades."

"Learn how to fish n u can fend for yourself forever, relying on others n forever u r dependent on others n at their mercy"

"There is no easy way n short-cut to success in life, including trading, all are own hardwork"

I had created 3 threads dedicated to newbies under "General", "Trading Techniques":

1. "Learning TA" - websites where u can learn TA for free but of course, TA is not infallible, thus need to set stop-loss)

2. "Some recommended good Trading and TA books" - of course u can also buy TA books.

3. "Advices to newbies" particular the 3 golden mantras.

Take your time to read and learn, dun rush, remember "Rome was not built in one day"

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Hi Rachael,

I m happy for u but remember tat making profits n losses is part n parcel of trading tat we must accept, so do not regret if u later find out tat the other stock run up more than Midas, as likewise, wat if it dropped more than Midas, nobody knows, so accept the decision we made. My advice is to learn TA so tat u need not be reliant on others eg being dependant on broker's advice as they are not accountable for your losses, as I said, I can slap myself for any mistakes I made but I cant slap others..

rachael ( Date: 26-Aug-2009 12:55) Posted:

Ha..

..Ha...

, Richtan, I was also about to sell off some of my Midas shares to spread to spread my risk to another counter but held back when my broker told me that there is an equal number of buyer.

richtan ( Date: 26-Aug-2009 12:30) Posted:

Trade Summary shows huge buy-up:

5EN (MIDAS)

WEIGHTED AVG PRICE : 0.8680	LAST DONE PRICE : 0.870
SPREAD/PRICE RATIO : 0.0057	AVG TRADE SIZE : 38.33

< />

Last	Trades	Vol	BuyVol	Mid	SellVol
0.845	3	27	27	0	0
0.850	65	1,770	1,064	0	706
0.855	19	1,143	10	0	1,133
0.860	25	1,565	0	0	1,565
0.865	32	1,714	545	0	1,169
0.870	155	5,355	1,912	0	3,443
0.872	1	40	0	40	0
0.875	177	6,291	3,903	0	2,388
0.880	14	915	0	0	915
TOTAL	491	18,820	7,461	40	11,319

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Hi Bintang,

The upper n lower band may but does not necessarily stopped a stock from pushing the band upwards (bullish) or downwards (bearish) just like wat is o/b can be even more o/b n wat is o/s can be more o/s, the key is to know how to spot reversal candles n patterns.

Bintang ( Date: 26-Aug-2009 13:53) Posted:

The upper Bollinger band of Midas has stopped its share price from moving up further at 88 cents . The DMIs are positively place , n the ADX was at 12 according to yesterday chart . If the share price could hold up firmly in next few days , the ADX would turn up again n the strong uptrend would resume . The upside target price still at $1.05 .

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x 0

Only those with "genuine??" divine powers will be able to tell u by when, n dun believe them. stay far, far away from them.

To succeed in trading, I always said:

"Learn to master TA n u are the master of your own trades."

"Learn how to fish n u can fend for yourself forever, relying on others n forever u r dependent on others n at their mercy"

"There is no easy way n short-cut to success in life, including trading, all are own hardwork, u need to learn the tools of the trade"

U can download the free charting software from www.chartnexus.com (no need to get the paid version, all these can be self-learn, dun waste your money, instead self-learn the skills n use tat money to trade).

I self-learnt, see how analysts do it and practice by covering up the candles and test my knowledge and hone my skills
till I m quite confident b4 start trading bcos the mkt is merciless, I rather save the money to trade and multiply it.

Those TA courses, wat they teach, all are from books, nothing new.

For those paid software,even after the software scan, still need our analysis, cannot assume it is 100% correct, as nothing can replace the human brain and knowledge as analysis is an art of how individual interpret, no matter how much they input all the scientific knowledge into the software

If u are not sure, post your charts n hopefully some forumers good in TA will exchange pointers with u.

To know how to post, search the forum for "tinypic.com"

To succeed in trading, my sincere n genuine advice to newbies:

"Learn to master TA n u are the master of your own trades."

"Learn how to fish n u can fend for yourself forever, relying on others n forever u r dependent on others n at their mercy"

"There is no easy way n short-cut to success in life, including trading, all are own hardwork"

I had created 3 threads dedicated to newbies under "General", "Trading Techniques":

1. "Learning TA" - websites where u can learn TA for free but of course, TA is not infallible, thus need to set stop-loss)

2. "Some recommended good Trading and TA books" - of course u can also buy TA books.

3. "Advices to newbies" particular the 3 golden mantras.

Take your time to read and learn, dun rush, remember "Rome was not built in one day"

JJSeng ( Date: 26-Aug-2009 14:05) Posted:

Hi! When will it touch the magic number $1?

tonylim ( Date: 26-Aug-2009 13:54) Posted:

Dear Friends,

There is little downside for Midas which is poised to move up along with the slew of announcements of new contracts coming soon. Just accumulate and let it grow ! Take profit when it touches $1 and buy on weakness again

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Broke 0.66

ozone2002 ( Date: 26-Aug-2009 13:49) Posted:

i'm just concerned abt the dble top pattern @ 66c..

seems like a retailers biting at the 66c sell Q.. cos if u see the no of trades done @ 66c it averages abt 50 lots per trade..

just my concern.. other than that hope it can break 66 to provide more assurance..

DYODD

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Trade Summary shows huge buy-up:

5EN (MIDAS)

WEIGHTED AVG PRICE : 0.8680	LAST DONE PRICE : 0.870
SPREAD/PRICE RATIO : 0.0057	AVG TRADE SIZE : 38.33

< />

Last	Trades	Vol	BuyVol	Mid	SellVol
0.845	3	27	27	0	0
0.850	65	1,770	1,064	0	706
0.855	19	1,143	10	0	1,133
0.860	25	1,565	0	0	1,565
0.865	32	1,714	545	0	1,169
0.870	155	5,355	1,912	0	3,443
0.872	1	40	0	40	0
0.875	177	6,291	3,903	0	2,388
0.880	14	915	0	0	915
TOTAL	491	18,820	7,461	40	11,319

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So sorry if I offended those vested for being a party-pooper and pouring ice-cold water on u all,

but I just want to blow the whistle and sound an early warning (aks early warning for tsunami or earthquake),

better be safe than sorry and not be the last to be hit by the tsunami, earthquake or leave the party and got burnt

(reminds me of tat incidence of the party-goers playing sparklers till got so carried away and throw caution to the wind)

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Volume had aredi exceeded yesterday's volume within half day's trading with extremely humogous buy-up:

5GJ (AusGroup)

WEIGHTED AVG PRICE : 0.6542 LAST DONE PRICE : 0.655

SPREAD/PRICE RATIO : 0.0000 AVG TRADE SIZE : 61.01

< />

Last Trades Vol BuyVol Mid SellVol

0.640 17 1,387 1,249 0 138

0.645 125 5,078 2,295 0 2,783

0.650 29 3,604 678 0 2,926

0.655 33 6,523 1,917 0 4,606

0.660 280 12,937 0 0 12,937

TOTAL 484 29,529 6,139 0 23,390

richtan ( Date: 26-Aug-2009 11:42) Posted:

Will be breaking above resistance at 0.66 with high vol soon.