S&P 500 1,203.61 +.77%
DJIA 10,361.36 +.56%
NASDAQ 2,076.20 +.91%
Russell 2000 650.48 +1.16%
DJ Wilshire 5000 11,991.01 +.79%
S&P Barra Growth 573.81 +.83%
S&P Barra Value 625.85 +.74%
Morgan Stanley Consumer 572.65 +.41%
Morgan Stanley Cyclical 719.23 +.62%
Morgan Stanley Technology 475.85 +.68%
Transports 3,533.98 +.72%
Utilities 391.35 +.26%
Put/Call .68 -31.31%
NYSE Arms .77 -25.72%
Volatility(VIX) 11.68 +2.46%
ISE Sentiment 103.00 -51.18%
US Dollar 90.49 +.03%
CRB 310.08 +2.05%
Futures Spot Prices
Crude Oil 59.65 +1.53%
Unleaded Gasoline 170.00 +3.12%
Natural Gas 7.41 +3.33%
Heating Oil 175.30 +2.45%
Gold 423.60 -1.33%
Base Metals 118.88 +.47%
Copper 150.90 +2.34%
10-year US Treasury Yield 4.09% +1.34%
Leading Sectors
Oil Service +2.52%
Energy +2.27%
Retail +1.95%
Lagging Sectors
Tobacco -.50%
Airlines -1.12%
Gold & Silver -2.63%
BOTTOM LINE: The Portfolio is higher mid-day on gains in my Internet, Retail and Medical longs. I trimmed existing shorts today, thus leaving the Portfolio 100% net long. The tone of the market is positive as the advance/decline line is higher, almost every sector is rising and volume is very light. Measures of investor anxiety are mixed. Today’s overall market action is positive as small-caps are once again outperforming on US dollar strength and healthy economic data. I expect US stocks to trade mixed-to-higher into the close as short-covering and bargain hunting more than offsets higher energy prices.
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