My latest post is up at RealMoney.

In it, I extend yesterday’s observations about the hidden strength in durable goods orders to specific industries that might benefit. Among those industries were primary metals, computers and electronic products, and motor vehicles and parts.

These industries may prove to be a good starting point for further research.

The headline PPI number, which is reported on a month/month seasonally adjusted change, is nearly meaningless to us. Instead, we like to look at the report to see if there are any industries that have unexpected or unrecognized gains or declines in pricing power.

Does it work? Well, anecdotes and evidence are two different things – but anecdotally last month’s post got off to a good start. We showed the (then-current) chart on fruit and vegetable canning inflation (the now current is below) and asked if it might signal that it is finally time to buy Del Monte (DLM - Annual Report).

As it turns out, it might have been a good time after all. Here is what happened to Del Monte since:

The pricing power is still creeping up.

We also asked, “With aluminum prices rising, will Alcoa (AA) shares follow?” They did.

The last two months we noted that Air Products (APD) and Praxair (PX) appeared to be defying gravity, as their share prices were rising while their pricing power was falling. The stocks are still high, but pricing power is returning so we’ll scratch that concept for now.

We had found the strength in paint and coating prices mysterious given the slowdown in housing and autos, two big users of paint and coatings. As time passes, the pricing power seems to be evaporating.

With the pricing power in industrial valves, we’re thinking Curtiss Wright’s guidance is too conservative. The shares fell on the news.

And last but not least, things look about as good as they can get for computer makers.

The stock market is purportedly worried by today’s higher than expected producer price inflation headline number, as investors become concerned that Goldilox will burn her lips on some hot porridge. We, on the other hand, take our usual look behind the headline numbers to see which industries are potential winners and losers in the current inflation environment.

Does rising inflation for fruit and vegetable canning suggest it is finally time to buy Del Monte (DLM - Annual Report)?

Price increases in corregated boxes had previously been at odds with bad news from trucking companies. Now it looks like box prices may be rolling over.

Industrial gas prices continue to plummet. Are Air Products (APD) and Praxair (PX) defying gravity?

With aluminum prices rising, will Alcoa (AA) shares follow?

The way industrial valve prices are rising, it is no surprise Curtiss Wright (CW - Annual Report) stock is as well.

Railroads may be running out of steam.

Last but not least, telecom pricing is going through the roof.

Which leads us to ask: why, again, is Verizon getting rid of its lines?