S&P 500 1,187.74 +.33%
DJIA 10,591.32 +.24%
NASDAQ 2,010.95 +.17%
Russell 2000 625.56 +.64%
DJ Wilshire 5000 11,720.97 +.36%
S&P Barra Growth 572.14 +.39%
S&P Barra Value 611.20 +.27%
Morgan Stanley Consumer 575.81 +.40%
Morgan Stanley Cyclical 769.49 +.73%
Morgan Stanley Technology 456.60 -.25%
Transports 3,793.59 +1.17%
Utilities 359.55 +.18%
Put/Call 1.02 +32.47%
NYSE Arms .86 -4.51%
Volatility(VIX) 13.35 -1.91%
ISE Sentiment 172.00 +30.30%
US Dollar 82.75 -.28%
CRB 313.54 +.02%
Futures Spot Prices
Crude Oil 57.05 -.71%
Unleaded Gasoline 159.00 -.35%
Natural Gas 7.32 +.03%
Heating Oil 156.50 -.54%
Gold 431.40 unch.
Base Metals 130.36 +.06%
Copper 149.90 +.67%
10-year US Treasury Yield 4.48% -.94%
Leading Sectors
Oil Service +2.67%
Iron/Steel +2.24%
Homebuilders +1.90%
Lagging Sectors
Papers -.12%
Insurance -.51%
Software -1.38%
Links of Interest
Market Internals
Movers & Shakers
I-Watch Sector Overview
NYSE Unusual Volume
NASDAQ Unusual Volume
NASDAQ 100 Heatmap
DJIA Quick Charts
Chart Toppers
Hot Spots
Option Dragon
Real-time Intraday Chart/Quote
BOTTOM LINE: US stocks are modestly higher mid-day as long-term interest rates decline and energy prices stabilize. The Portfolio is higher on gains in my Chinese ADR shorts, Energy-related longs and Steel longs. I added a few longs from various sectors this morning, thus leaving the Portfolio’s market exposure 75% net long. One of my new longs is STN and I am using a $65 stop-loss on this position. The tone of the market is modestly positive as the advance/decline line is slightly higher, almost every sector is gaining and volume is very light. Commodities, Cyclicals and Small-caps are outperforming, while Tech is once again underperforming. Measures of investor anxiety are mostly lower, which is a negative. Today’s overall market action is decent ahead of the Fed’s commentary. I will closely monitor the bond market’s reaction to the news before further shifting the Portfolio’s market exposure. I expect US stocks to trade modestly higher into the close as volatility and volume increase on short-covering and bargain-hunting .
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