Monday, November 08, 2004

Mid-day Update

S&P 500 1,165.11 -.09%
NASDAQ 2,038.07 -.04%


Leading Sectors
Iron/Steel +.84%
Tobacco +.79%
Homebuilders +.72%

Lagging Sectors
Energy -1.74%
I-Banks -2.04%
Oil Service -2.77%

Other
Crude Oil 49.05 -1.13%
Natural Gas 7.60 -4.45%
Gold 433.60 -.16%
Base Metals 117.33 +.01%
U.S. Dollar 84.03 +.02%
10-Yr. T-note Yield 4.21% +.94%
VIX 13.85 -.07%
Put/Call .66 -5.71%
NYSE Arms .83 +53.70%

Market Movers

Economic Data
None of note.

Recommendations

Mid-day News

Bottom Line: The Portfolio is substantially higher mid-day on strength in my security, internet and healthcare longs. I took profits in a couple of my gaming longs this morning and added a few new technology longs, thus leaving the Portfolio 125% net long. One of my new longs is GOOG and I am using a $168 stop-loss on this position. The tone of the market is good today as many leading stocks are higher as the major indices consolidate recent gains. I plan to use any Iraq-related weakness to buy aggressively over the coming weeks. I expect U.S. stocks to trade mixed-to-higher into the close.

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