S&P 500 1,222.69 -.41%
DJIA 10,609.78 -.29%
NASDAQ 2,146.20 -.49%
Russell 2000 659.30 -.67%
DJ Wilshire 5000 12,184.81 -.38%
S&P Barra Growth 585.86 -.26%
S&P Barra Value 633.24 -.48%
Morgan Stanley Consumer 585.12 -.10%
Morgan Stanley Cyclical 744.47 +.39%
Morgan Stanley Technology 497.86 -.49%
Transports 3,637.56 -.23%
Utilities 392.53 -.04%
Put/Call 1.03 +51.47%
NYSE Arms 1.11 +3.54%
Volatility(VIX) 10.89 +5.42%
ISE Sentiment 211.00 +24.85%
US Dollar 89.55 -.19%
CRB 306.14 -1.10%
Futures Spot Prices
Crude Oil 56.95 -1.96%
Unleaded Gasoline 163.30 -3.28%
Natural Gas 7.59 -3.24%
Heating Oil 162.70 -2.11%
Gold 422.10 +.19%
Base Metals 123.18 -.38%
Copper 156.70 +.32%
10-year US Treasury Yield 4.18% +.52%
Leading Sectors
Airlines +.98%
HMOs +.67%
Retail +.54%
Lagging Sectors
Banks -.93%
Disk Drives -.98%
Telecom -1.01%
BOTTOM LINE: The Portfolio is lower mid-day on losses in my Networking, Semiconductor and Medical longs. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is negative as the advance/decline line is lower, most sectors are declining and volume is very light. Measures of investor anxiety are mixed. Today’s overall market action is modestly negative considering recent gains and another decline in energy prices. During the week ended July 15, the Consumer Discretionary industry saw the greatest net insider selling in the S&P 500. Insiders sold $177,248,438 worth of stock and bought $49,490.I expect US stocks to trade mixed-to-higher into the close on short-covering ahead of a number of important earnings reports.
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