Bill Fleckenstein Inside news

verfasst von nasdaq, 23.09.2002, 18:57

-->When Walls Talk to Wall Street: Now I'd like to share an email from a reader that points, anecdotally, to a slowdown in the housing market:"I work for a privately owned chemical company. Among other things, we make vinyl chloride monomer, the precursor to polyvinyl chloride (PVC), probably 85% to 90% of which ends up as pipe, siding, and fencing for housing. I've routinely been checking with our scheduling and traffic guy to see if there was any softness out in the market, because we have been running at record rates, or were until Monday."

Tube Be Continued: He continues:"Seems the channel is stuffed to the gills all the way back up to us, and we have now been told to expect to only run at 80% rates through the end of the year. We were never touched in the slightest by the 'recession.' Now that the slowdown has finally backed up (or down) to us, a ways down the food chain, I thought it was an important data point."

Of Private Grief and Public Company: Turning to this email from another reader, things look none too rosy in the land of semiconductor capital equipment:"Just a quick note on how bad it is out there. I received a call from a friend of a friend who was just let go from a private company that supplies high purity components to companies such as Applied Materials (AMAT:Nasdaq - news - commentary - research - analysis). He said they have gone from 600 employees eight months ago to 74 as of last Friday. According to him, orders are not just off, they are nonexistent."

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• Bill Fleckenstein Inside news - nasdaq, 23.09.2002, 18:57