S&P 500 1,201.63 -.05%
DJIA 10,533.46 -.15%
NASDAQ 2,089.99 +.11%
Russell 2000 623.78 +.01%
DJ Wilshire 5000 11,887.23 +.02%
S&P Barra Growth 581.63 +.06%
S&P Barra Value 615.91 -.08%
Morgan Stanley Consumer 587.44 -.14%
Morgan Stanley Cyclical 726.35 -.02%
Morgan Stanley Technology 486.10 +.29%
Transports 3,642.10 +.23%
Utilities 368.56 +.01%
Put/Call .95 +39.71%
NYSE Arms 1.14 +42.90%
Volatility(VIX) 12.19 -1.38%
ISE Sentiment 210.00 +60.31%
US Dollar 87.84 -.31%
CRB 305.33 +.33%
Futures Spot Prices
Crude Oil 54.60 -.09%
Unleaded Gasoline 154.80 +.25%
Natural Gas 7.00 +2.96%
Heating Oil 157.80 +2.47%
Gold 424.80 +1.70%
Base Metals 123.28 +1.30%
Copper 151.65 +2.09%
10-year US Treasury Yield 3.89% +.19%
Leading Sectors
Airlines +4.74%
Disk Drives +3.34%
Oil Tankers +2.04%
Lagging Sectors
Insurance -.45%
Banks -.47%
Computer Hardware -1.35%
BOTTOM LINE: The Portfolio is slightly lower mid-day on losses in my Internet longs and Energy-related shorts. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is slightly negative as the advance/decline line is slightly lower, most sectors are higher and volume is about average. Measures of investor anxiety are mixed. Today’s overall market action is neutral, given recent gains and mixed economic data. Many believe the Fed's Fisher does not speak for most other Fed members. He is being portrayed in some circles as an inexperienced loose cannon who should be ignored. If his dovish comments yesterday were so off-the-mark, why hasn't any other Fed member attempted damage control? The Fed's Stern had his chance today and didn't take it. I expect US stocks to trade mixed-to-higher into the close on short-covering and subsiding Fed worries.
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