S&P 500 1,244.12 +.71%
DJIA 10,683.74 +.57%
NASDAQ 2,218.15 +1.04%
Russell 2000 688.51 +.84%
DJ Wilshire 5000 12,441.73 +.73%
S&P Barra Growth 597.31 +.79%
S&P Barra Value 642.34 +.63%
Morgan Stanley Consumer 592.19 +.46%
Morgan Stanley Cyclical 765.07 +.55%
Morgan Stanley Technology 507.36 +1.12%
Transports 3,817.16 +.24%
Utilities 402.41 +2.51%
Put/Call .94 +3.30%
NYSE Arms .93 +8.69%
Volatility(VIX) 11.75 -2.73%
ISE Sentiment 168.00 -21.50%
US Dollar 88.76 -.15%
CRB 317.57 +.91%
Futures Spot Prices
Crude Oil 61.89 -.02%
Unleaded Gasoline 178.05 -.06%
Natural Gas 8.37 -.04%
Heating Oil 172.75 +.14%
Gold 437.70 unch.
Base Metals 128.13 +.76%
Copper 166.10 -.09%
10-year US Treasury Yield 4.33% +.56%
Leading Sectors
Steel +3.06%
Utilities +2.51%
Semiconductors +2.49%
Lagging Sectors
Homebuilders -.21%
Oil Tankers -.31%
Airlines -1.34%
Evening Review
Detailed Market Summary
Market Gauges
Daily ETF Performance
Style Performance
Market Wrap CNBC Video(bottom right)
S&P 500 Gallery View
Economic Calendar
Timely Economic Charts
GuruFocus.com
PM Market Call
After-hours Movers
Real-time/After-hours Stock Quote
In Play
Afternoon Recommendations
Goldman Sachs:
- Reiterated Outperform on TAP and CEM.
- Reiterated Underperform on MMC and BMC.
Afternoon/Evening Headlines
Bloomberg:
- Drugmakers mad a voluntary pledge today to comply with federal advertising rules as the industry faces threats by Congress to curb their annual $4.01 billion consumer marketing campaigns.
- An Air France jet trying to land at Toronto Pearson International Airport skidded off the runway into a ravine and caught fire.
BOTTOM LINE: The Portfolio finished higher today on gains in my Medical, Medical Information Systems and Retail longs. I did not trade in the afternoon, thus leaving the Portfolio 100% net long. The tone of the market was positive today as the advance/decline line finished higher, almost every sector rose and volume was about average. Measures of investor anxiety were mostly higher into the close. Overall, today’s market action was positive. I continue to believe that we are in the early stages of a reversal in several major trends. Massive amounts of capital have flowed into market neutral and negatively correlated market strategies over the last five years. Individuals have shown relatively little interest in stocks since the bursting of the bubble. Overseas investments have been garnering a disproportionate amount of new capital. I believe these three trends are in the early stages of reversing. While I can't argue that in the short-term the major averages are extended and due for a period of consolidation, the emerging trend of getting long U.S. stocks is still in the early stages.
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