S&P 500 1,156.82 -.27%
DJIA 10,189.93 -.27%
NASDAQ 1,944.58 -.91%
Russell 2000 593.36 -.93%
DJ Wilshire 5000 11,400.74 -.27%
S&P Barra Growth 560.19 -.40%
S&P Barra Value 592.49 -.11%
Morgan Stanley Consumer 576.64 -.41%
Morgan Stanley Cyclical 711.72 -.53%
Morgan Stanley Technology 440.74 -.53%
Transports 3,461.54 -1.46%
Utilities 366.86 +.52%
Put/Call .79 -5.95%
NYSE Arms 1.07 +102.21%
Volatility(VIX) 14.66 +1.73%
ISE Sentiment 136.00 +7.94%
US Dollar 83.62 -.10%
CRB 307.58 +.28%
Futures Spot Prices
Crude Oil 55.55 +2.49%
Unleaded Gasoline 164.50 +1.54%
Natural Gas 7.21 +2.53%
Heating Oil 154.70 +.85%
Gold 435.40 +.23%
Base Metals 126.42 +.57%
Copper 148.80 +.30%
10-year US Treasury Yield 4.26% -.60%
Leading Sectors
Oil Service +1.12%
Energy +.92%
Restaurants +.62%
Lagging Sectors
Broadcasting -1.94%
Computer Hardware -2.09%
Airlines -4.20%
BOTTOM LINE: US stocks are lower mid-day on earnings worries and higher energy prices. The Portfolio is unchanged on mixed performance by my Tech longs. I have not traded today, thus leaving the Portfolio 75% net long. The tone of the market is negative as the advance/decline line is weak, most sectors are lower and volume is light. Measures of investor anxiety are mixed. Today’s overall market action is modestly negative, considering yesterday’s sharp gains, higher energy prices and earnings worries. So far, today’s action appears to be a healthy consolidation of yesterday’s gains. GOOG is currently my largest position and I expect this stock to reach $300 by year-end. I expect US stocks to trade modestly higher into the close on short-covering and bargain-hunting.
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