S&P 500 1,208.39 +.88%
DJIA 10,420.14 +1.14%
NASDAQ 2,098.55 +1.09%
Russell 2000 656.75 +1.14%
DJ Wilshire 5000 12,049.30 +.86%
S&P Barra Growth 576.47 +.99%
S&P Barra Value 627.57 +.74%
Morgan Stanley Consumer 572.80 +1.22%
Morgan Stanley Cyclical 727.44 +1.23%
Morgan Stanley Technology 481.38 +1.08%
Transports 3,562.71 +1.24%
Utilities 390.07 +.90%
Put/Call .74 -28.85%
NYSE Arms .85 -28.41%
Volatility(VIX) 11.36 -9.05%
ISE Sentiment 202.00 +33.77%
US Dollar 90.43 +.17%
CRB 311.53 -.15%
Futures Spot Prices
Crude Oil 60.35 -.63%
Unleaded Gasoline 179.70 -.48%
Natural Gas 7.53 +1.65%
Heating Oil 174.00 -1.97%
Gold 423.30 -.21%
Base Metals 123.28 +2.22%
Copper 155.60 +1.34%
10-year US Treasury Yield 4.08% +.48%
Leading Sectors
Broadcasting +2.63%
Airlines +2.38%
Biotech +2.06%
Lagging Sectors
Oil Service -.03%
Hospitals -.19%
Energy -.33%
BOTTOM LINE: The Portfolio is higher mid-day on gains in my Semiconductor, Retail and Networking longs. I trimmed a few existing shorts and added to my existing longs, 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 higher and volume is below average. Measures of investor anxiety are lower. Today’s overall market action is positive. The major indices are breaking out of their recent trading range even with oil near record highs. The Richmond Fed Service Sector Gauge for expected trends over the next six months recently rose 2.02%. This is the steepest increase since the later part of 2000, before the indicator began to plunge. I expect US stocks to trade mixed-to-higher into the close on short-covering, bargain hunting and lower energy prices.
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