S&P 500 1,152.84-.43%
NASDAQ 2,077.17-.61%
Leading Sectors
Airlines+2.29%
HMO's+1.67%
Iron/Steel+.98%
Lagging Sectors
Internet-.84%
Drugs-1.07%
Semis-1.17%
Other
Crude Oil 33.9-.29%
Natural Gas 5.41+2.85%
Gold 414+.78%
10-Yr. Long-bond yield 4.03%+.09%
U.S. Dollar Index 85.16+.08%
Put/Call Ratio .44-34.3%
Copper 124.4+2.34%
Base Materials 109.82+2.56%
Market Movers
AET+5.8% on strong 4th Q earnings and raised 1st Q guidance.
CSC-8.2% on disappointing 4th Q earnings.
FSH+9.5% on the announcement of 2 accretive acquisitions.
LTR+4% on strong 4th Q earnings.
TASR+29% on short-squeeze...no news.
HRT+12.6% on technical break-out...no news.
TFX+8.7% on better-than-expected 4th Q and raised guidance.
ADVP+4.9% on approval by FTC for CMX merger.
LH-9.4% on lowered 1st Q guidance.
NANO+5.39% on strong nanotechnology sector and new contract.
Mid-day News
U.S. stocks are declining mid-day, as the number of Americans filing jobless claims unexpectedly rose last week, thus giving traders an excuse to take profits from the recent rally. Time Warner may join Disney bidding to counter hostile offer from Comcast. Xilinx concerned IBM does not have enough capacity to produce their chips. New Jersey officials have found the avian flu virus at 4 live chicken markets in the northern part of the state. Authorities said it is possible this strain could mutate into a form that hurts humans. U.S. initial jobless claims rose by 6K to 363K last week, more than expectations. Retail sales less autos came in above expectations at .9%, the highest in 5 months. Copper futures are at a 7-yr high on expectations that faster U.S. growth will boost industrial demand. Freddie Mac says 30-yr mortgage rate falls to 5.66% this week.
BOTTOM LINE: Today seems like a consolidation day to me. It does not appear to be the start of a significant correction. However, since the Portfolio is 100% net long, I will look to take some profits on the close if weakness continues throughout the day. The Portfolio's performance today is good, as a few of my longs are up substantially.
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