The Chicago and Milwaukee PMI was released yesterday and beat estimates by a margin. Again, we are seeing conflicting data as many coal companies have been talking about shutting down plants since their stockpiles are growing. That corroborates with the readings on growing Natural Gas inventories.
We believe this is part of the inventory restocking cycle that may come to abrupt end.
Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.