DJIA 10,3320.78 -.49%
NASDAQ 2,080.57 +.09%
Russell 2000 651.17 -.32%
DJ Wilshire 5000 11,967.10 -.33%
S&P Barra Growth 572.26 -.39%
S&P Barra Value 624.05 -.38%
Morgan Stanley Consumer 569.99 -.50%
Morgan Stanley Cyclical 719.99 -.10%
Morgan Stanley Technology 478.82 +.57%
Transports 3,536.11 +.04%
Utilities 386.69 -.93%
Put/Call 1.0 +49.25%
NYSE Arms 1.27 +56.15%
Volatility(VIX) 11.95 +2.31%
ISE Sentiment 222.00 +79.03%
US Dollar 90.34 -.11%
CRB 312.57 +.90%
Futures Spot Prices
Crude Oil 60.60 +1.69%
Unleaded Gasoline 176.80 +5.07%
Natural Gas 7.64 +2.21%
Heating Oil 178.20 +2.86%
Gold 424.60 +.17%
Base Metals 121.12 +1.88%
Copper 153.00 +1.39%
10-year US Treasury Yield 4.08% -.61%
Leading Sectors
Steel +2.18%
HMOs +1.88%
Semis +1.82%
Lagging Sectors
Oil Service -1.04%
Energy -1.27%
Restaurants -1.36%
BOTTOM LINE: The Portfolio is unchanged mid-day as gains in my Retail longs and Oil Tanker shorts are offsetting losses in my Internet and Restaurant longs. 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, sector performance is mixed and volume is below average. Measures of investor anxiety are mostly higher. Today’s overall market action is also slightly negative considering the better-than-expected ISM Non-manufacturing report and the rise in energy prices. The Johnson Redbook Same-store-sales Index rose 4.4% year-over-year last week vs. a 3.8% rise the prior week. This is up from a 1.5% gain in late April and the ninth week in a row the index has exceeded 3%. Moreover, this is the strongest reading since June 29, 2004. I continue to believe retail and other consumer-related sectors will outperform through year-end. I expect US stocks to trade mixed-to-higher into the close as short-covering and bargain hunting more than offsets higher energy prices.
No comments:
Post a Comment