Many years ago Cabot Microelectronics (CCMP), itself surging on earnings today per the previous post, was spun off by Cabot Corp. (CBT), an industrial materials and chemical company (and long time maker of the ‘Carbon Black’ found in your Goodyear tires). I was going to buy CBT as well, but was so stretched out time-wise that I failed to realize its earnings were yesterday. Now the opportunity is gone. Win some, lose some, miss out on some.

But more than that, this is yet another company within another industry that is indicating firming economic signals. A look at other chemical, industrial and materials related stocks and ETFs shows a strong situation. CCMP and CBT’s earnings are not a fluke. These are not fluky or hyped companies. They are as gritty as they get.

When gauging the economy, I think it is better to watch companies that ply their trade directly within the bedrock of the economy than to follow Wall Street and Federal Reserve suits running around like chickens with their heads cut off.