S&P 500 1,153.81 +.70%
DJIA 10,146.59 +.76%
NASDAQ 1,930.22 +.92%
Russell 2000 593.43 +1.39%
DJ Wilshire 5000 11,379.01 +.86%
S&P Barra Growth 557.72 +.62%
S&P Barra Value 592.29 +.83%
Morgan Stanley Consumer 576.38 +.14%
Morgan Stanley Cyclical 706.60 +1.18%
Morgan Stanley Technology 433.05 +1.61%
Transports 3,447.51 +1.24%
Utilities 364.31 +1.54%
Put/Call .99 +3.13%
NYSE Arms 1.08 +15.57%
Volatility(VIX) 14.84 -10.39%
ISE Sentiment 167.00 +25.56%
US Dollar 83.83 -.20%
CRB 303.66 +2.01%
Futures Spot Prices
Crude Oil 51.95 +3.14%
Unleaded Gasoline 156.50 +4.72%
Natural Gas 7.04 +1.37%
Heating Oil 149.00 +3.31%
Gold 434.60 +1.31%
Base Metals 126.30 +1.33%
Copper 147.15 +1.83
10-year US Treasury Yield 4.20% -1.58%
Leading Sectors
Networking +4.55%
Steel +3.89%
Oil Tankers +3.43%
Lagging Sectors
Hospitals -.02%
Airlines -.17%
Drugs -.19%
BOTTOM LINE: US stocks are higher mid-day on lower long-term interest rates, bargain-hunting and short-covering. The Portfolio is higher on gains in my Homebuilding, Computer, Gaming and Networking longs. I added a few new longs from various sectors this morning, thus leaving the Portfolio 100% net long. One of my new longs is MDC and I am using a $65.75 stop-loss on this position. The tone of the market is positive as the advance/decline line is higher, almost every sector is higher and volume is average. Measures of investor anxiety are mixed. Today’s overall market action is positive, considering the rise in energy prices and worries over GM. I am more confident that we have seen the lows for the year in US equities. The CPI and energy reports tomorrow should result in further short-covering. I expect US stocks to trade mixed-to-higher into the close on short-covering, low long-term interest rates and bargain-hunting.
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