S&P 500 1,198.16 +.05%
DJIA 10,540.28 +.03%
NASDAQ 2,074.45 +.16%
Russell 2000 616.67 +.32%
DJ Wilshire 5000 11,826.83 +.11%
S&P Barra Growth 579.72 +.03%
S&P Barra Value 613.99 +.07%
Morgan Stanley Consumer 589.08 -.03%
Morgan Stanley Cyclical 725.53 +.09%
Morgan Stanley Technology 481.36 -.21%
Transports 3,629.04 -.20%
Utilities 364.59 +.35%
Put/Call 1.0 +31.58%
NYSE Arms 1.20 +84.57%
Volatility(VIX) 12.27 +.25%
ISE Sentiment 159.00 -4.79%
US Dollar 86.45 -.46%
CRB 300.94 +.28%
Futures Spot Prices
Crude Oil 51.75 +1.45%
Unleaded Gasoline 147.45 +1.84%
Natural Gas 6.38 +2.70%
Heating Oil 145.10 +.19%
Gold 422.50 +.45%
Base Metals 122.04 -.11%
Copper 144.50 -.31%
10-year US Treasury Yield 4.07% -.14%
Leading Sectors
Gold & Silver +3.47%
Steel +1.15%
Energy +1.13%
Lagging Sectors
Homebuilders -.36%
Software -.47%
Semis -.91%
BOTTOM LINE: The Portfolio is higher mid-day on gains in my Internet, Wireless and Networking longs. I added to a few longs this morning and added PD short, thus leaving the Portfolio 100% net long. I am using a $92.50 stop-loss on this position. The tone of the market is modestly positive as the advance/decline line is slightly higher, most sectors are rising and volume is very light. Measures of investor anxiety are lower. Today’s overall market action is positive, given last week’s gains, rising energy prices and more positive economic data. The major indices and breadth are rising after the report of King Fahd's hospitalization. As well, the put/call and arms reading are modestly elevated. This leads me to believe the path of least resistance is higher today. I expect US stocks to rise modestly into the close on short-covering and more optimism.
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