"When people are being laid off in a cyclical industry, it's usually a sign of bottom for the industry."
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brightness...
Personally, I think that is a foolish statement that defies all common sense. A layoff means the company sees no signs of recovery in the intermediate term future and certainly does not in and of itself imply a bottom. Layoffs have been common in the equipment industry for over a year now, so exactly when was the bottom????
We will just have to disagree on our views of the sector.
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