NASDAQ 2,097.04 +.40%
Leading Sector
Homebuilders +2.04%
HMOs +1.93%
Biotech +1.17%
Lagging Sectors
Gaming -.79%
Telecom -.80%
Airlines -.97%
Other
Crude Oil 45.39 +.13%
Natural Gas 6.23 +1.15%
Gold 420.40 +.17%
Base Metals 118.95 -.08%
U.S. Dollar 83.35 -.30%
10-Yr. T-note Yield 4.27% +.09%.
VIX 13.23 -1.93%
Put/Call .77 -18.95%
NYSE Arms .95 -24.6%
ISE Sentiment 218.00 +36.25%
After-hours Movers
SCSS +6.71% after boosting 4Q guidance.
ROK +8.02% after substantially boosting 1Q guidance.
TSRA +8.5% after raising 4Q estimates.
DNA -4.2% after missing 4Q estimates.
Recommendations
Goldman Sachs reiterated Outperform on DNA, FSH, CMX, TRI and DTV.
After-hours News
U.S. stocks finished modestly higher today as oil prices fell and homebuilding stocks rose. After the close, Ford Motor CEO Padilla told CNBC that incentives by auto sellers have become a "way of life" and show no signs of ending any time soon. Huawei Technologies, China's top phone-equipment maker, plans to quadruple its annual sales overseas to $10 billion by 2008 through expansion and acquisitions, the Financial Times reported. Overweight people sleep almost two hours less each week than their slimmer counterparts and the conditions appear to be related, according to a study in today's edition of the Archives of Internal Medicine. Alcoa, the world's biggest aluminum maker, said fourth-quarter profit fell 7.9% because of costs to sell some businesses and the weaker US dollar, Bloomberg reported. Genentech said fourth-quarter profit rose 63%, boosted by its Avastin cancer drug, Bloomberg said. Lenovo Group won US antitrust approval to acquire IBM's personal computer business to become the world's No. 3 PC manufacturer, Bloomberg said.
BOTTOM LINE: The Portfolio finished slightly higher today on gains in my internet, semiconductor and homebuilding longs. I did not trade in the afternoon, thus leaving the Portfolio 75% net long. The tone of the market deteriorated again this afternoon, however the major indices were able to maintain gains. The major US indices have stabilized over the last 4 days. While I expect stocks to stage a rally over the next few days, I am not ruling out another push lower as complacency remains high. I will remain flexible and trade accordingly.
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