S&P 500 1,201.72 +.30%
DJIA 10,539.60 +.26%
NASDAQ 2,068.84 +.28%
Russell 2000 626.88 +.09%
DJ Wilshire 5000 11,898.76 +.28%
S&P Barra Growth 578.68 +.33%
S&P Barra Value 618.75 +.29%
Morgan Stanley Consumer 582.80 +.14%
Morgan Stanley Cyclical 724.18 +.51%
Morgan Stanley Technology 482.29 +.65%
Transports 3,518.06 -.09%
Utilities 373.60 +.12%
Put/Call .91 +28.17%
NYSE Arms .58 -34.46%
Volatility(VIX) 11.59 -3.09%
ISE Sentiment 125.00 -23.31%
US Dollar 89.01 +.35%
CRB 304.31 +.60%
Futures Spot Prices
Crude Oil 55.10 +2.91%
Unleaded Gasoline 156.40 +1.32%
Natural Gas 7.24 +4.44%
Heating Oil 166.40 +3.58%
Gold 431.10 +.42%
Base Metals 123.48 -.24%
Copper 153.95 -1.47%
10-year US Treasury Yield 4.07% +.47%
Leading Sectors
Software +1.24%
Hospitals +1.17%
Papers +1.16%
Lagging Sectors
Restaurants -.64%
Airlines -1.65%
Oil Tankers -1.84%
BOTTOM LINE: The Portfolio is slightly lower mid-day on losses in my Internet and Semiconductor longs. I added to my PD short and to an existing long, thus leaving the Portfolio 75% net long. 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 mixed. Today’s overall market action is positive, considering the rise in energy prices. I expect US stocks to trade mixed into the close as high energy prices offsets short-covering ahead of important inflation data.
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