S&P 500 1,172.74 +.99%
DJIA 10,359.59 +1.0%
NASDAQ 1,956.57 +1.20%
Russell 2000 593.13 +1.48%
DJ Wilshire 5000 11,532.19 +1.01%
S&P Barra Growth 565.46 +.66%
S&P Barra Value 602.87 +1.31%
Morgan Stanley Consumer 583.31 +.55%
Morgan Stanley Cyclical 712.33 +1.44%
Morgan Stanley Technology 445.31 +1.38%
Transports 3,510.00 +1.37%
Utilities 368.19 -.24%
Put/Call 1.05 +25.00%
NYSE Arms .55 -48.84%
Volatility(VIX) 13.94 -4.06%
ISE Sentiment 125.00 +.81%
US Dollar 84.02 -.58%
CRB 300.26 +.19%
Futures Spot Prices
Crude Oil 50.15 +1.31%
Unleaded Gasoline 146.70 +.52%
Natural Gas 6.61 +1.61%
Heating Oil 145.10 +1.04%
Gold 430.00 unch.
Base Metals 121.30 -1.14%
Copper 144.35 -.79%
10-year US Treasury Yield 4.18% +.43%
Leading Sectors
Steel +4.45%
I-Banks +3.36%
Insurance +2.87%
Lagging Sectors
Software +.49%
Alternative Energy +.49%
Computer Services +.30%
BOTTOM LINE: The Portfolio is substantially higher mid-day on gains in my Internet, Computer and Gaming longs. I added a few longs from various sectors this morning and covered a short, thus leaving the Portfolio 100% net long. One of my new longs is EBAY and I am using a $31.75 stop-loss on this position. The tone of the market is positive as the advance/decline line is higher, almost every sector is advancing and volume is decent. Measures of investor anxiety are mostly lower. Today’s overall market action is positive as stocks are maintaining gains even with the reversal in oil prices this morning. The S&P 500 and DJIA are breaking out of their recent trading ranges on decent volume and breadth. The fact that long-term interest rates are barely higher today even with the stock rally, better-than expected ISM report and speculation over a return of the 30-year long-bond is a big positive. Copper prices are falling again today as technicals for the metal continue to weaken. I expect US stocks to trade higher into the close on a moderating in energy prices, short-covering, bargain-hunting and more optimism over the US economy.
No comments:
Post a Comment