NASDAQ 2,099.68 +1.01%
Leading Sectors
Semis +2.86%
Disk Drives +2.81%
Boxmakers +2.35%
Lagging Sectors
Biotech -.08%
Utilities -.90%
Airlines -1.07%
Other
Crude Oil 46.60 -.51%
Natural Gas 7.27 -.18%
Gold 445.10 unch.
Base Metals 118.62 +1.27%
U.S. Dollar 83.33 -.56%
10-Yr. T-note Yield 4.13% -1.78%
VIX 13.21 unch.
Put/Call .65 -5.80%
NYSE Arms .75 -55.62%
After-hours Movers
NFLX +10.3% after boosting 4Q subscriber growth and revenue estimate.
ISSC +9.8% after strong 4Q results.
HOTT +5.95% after meeting 3Q estimates.
NABI -12.6% after announcing disappointing results from its Phase II clinical trial for Altastaph.
MGAM -9.78% after meeting 4Q estimates and raising 1Q guidance.
CRM -9.3% on profit-taking after beating 3Q estimates and raising 05 guidance.
Recommendations
Goldman Sachs reiterated Underperform on PVH.
After-hours News
U.S. stocks finished higher today on strong economic reports, falling interest rates and optimism in the technology sector. After the close, senior presidential adviser Karl Rove called Nebraska Senator Ben Nelson, a Democrat, a few days ago to ask if he would like to succeed Ann Veneman as Agriculture Secretary, CNN reported. Pakistan's government said India's withdrawal of a first group of soldiers from Jammu and Kashmir with help the peace process between the South Asian neighbors, Agence France-Presse rerpoted. U.S. lawmakers agreed on a plan to ban taxes until 2007 on Internet access provided by companies such as MSN and AOL, Bloomberg said. Medtronic, the world's largest maker of devices that regulate heart rhythm, said fiscal second-quarter profit rose 13% because of higher sales of defibrillators, Bloomberg reported. Applied Materials, the world's biggest maker of semiconductor-production equipment, said fourth-quarter profit rose to its highest level in four years on demand from computer-chip makers for new machines, Bloomberg reported.
BOTTOM LINE: The Portfolio finished higher today on strength in my retail, semi, steel and RFID longs. I exited an internet long in the afternoon and added NTE long, thus leaving the Portfolio 100% net long. I am using a $18.75 stop-loss on this position. The tone of the market deteriorated modestly throughout the afternoon on rising oil prices and profit-taking. However it was still a very good day for the Bulls considering recent gains. I continue to expect U.S. stocks to rally, at least through year-end, as accelerating economic growth results in companies easily beating recently lowered 4Q estimates. Shorts will continue to cover, funds will chase performance and new inflows will result in continued bargain-hunting on the long-side.
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