S&P 500 1,160.96 -.11%
DJIA 10,249.79 -.01%
NASDAQ 1,933.73 +.27%
Russell 2000 585.90 +.01%
DJ Wilshire 5000 11,419.93 -.06%
S&P Barra Growth 561.22 -.05%
S&P Barra Value 595.37 -.16%
Morgan Stanley Consumer 579.13 -.15%
Morgan Stanley Cyclical 702.64 +.14%
Morgan Stanley Technology 439.32 +.46%
Transports 3,471.46 -.36%
Utilities 369.01 -1.12%
Put/Call .77 -18.09%
NYSE Arms 1.13 +20.75%
Volatility(VIX) 15.08 -.26%
ISE Sentiment 143.00 -13.3%
US Dollar 84.40 -.11%
CRB 300.88 -.66%
Futures Spot Prices
Crude Oil 50.15 -1.51%
Unleaded Gasoline 148.20 -2.15%
Natural Gas 6.58 -1.60%
Heating Oil 145.50 -.56%
Gold 428.30 -.49%
Base Metals 122.70 -1.82%
Copper 144.40 -.76%
10-year US Treasury Yield 4.18% -.09%
Leading Sectors
Steel +2.12%
Airlines +1.27%
Software +.93%
Lagging Sectors
Oil Tankers -1.46%
Oil Service -1.83%
Energy -1.83%
BOTTOM LINE: The Portfolio is higher mid-day on gains in my Internet longs and Energy-related shorts. I have not traded this morning, thus leaving the Portfolio 75% net long. The tone of the market is slightly positive as the advance/decline line is barely higher, most sectors are higher and volume is below average. Measures of investor anxiety are mixed. Today’s overall market action is neutral, considering the better-than-expected factory orders report and decline in energy prices. Stocks have pretty much flat-lined after the open ahead of the Fed announcement at 2:15 EST. I expect US stocks to trade higher into the close after the Fed boosts rates 25 basis points, leaves the “measured” language and makes more dovish comments. Oil breaking back below $50/bbl. should also boost stocks.
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