Wednesday, February 04, 2004

Wednesday Close

S&P 500 1,126.52-.84%
NASDAQ 2,014.14-2.52%

Leading/Lagging Sectors
Drugs+.7%
Fashion+.23%
Restaurants+.16%
Networking-5.2%
Internet-3.76%
Semis-2.99%

After-Hours Movers
OPTV+9.29% up on pact with Matsushita.
AEOS+8.9% up on better than expected 4Q earnings.
ESST+7.49% up on better than expected 4Q and raised 1Q guidance.
UNM-10.31% down on disappointing earnings due to increased claims reserves.
MDT-4.3% down on earnings report...profit-taking.

After-hours News
US bans Asian bird imports to try and prevent flu from spreading here. China plans to slow investment growth in steel, aluminum and cement industries to curb future inflation.

BOTTOM LINE: Market will likely be up modestly tomorrow. Probably a quiet day in anticipation of Fri. employment numbers. Initial jobless claims and productivity reports could provide sparks, but not likely. My portfolio was essentially flat today with the major indices down. I am about 10% net short and will be looking to cover a few of these at some point tomorrow.

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