S&P 500 1,236.01 +.38%
DJIA 10,644.01 +.25%
NASDAQ 2,172.48 -.08%
Russell 2000 662.12 +.22%
DJ Wilshire 5000 12,298.22 +.34%
S&P Barra Growth 592.52 +.20%
S&P Barra Value 638.48 +.45%
Morgan Stanley Consumer 590.49 +.75%
Morgan Stanley Cyclical 759.58 +.76%
Morgan Stanley Technology 504.03 -.22%
Transports 3,757.19 +.47%
Utilities 395.67 +.80%
Put/Call 1.0 +7.53%
NYSE Arms .80 +30.32%
Volatility(VIX) 12.03 -2.98%
ISE Sentiment 202.00 +25.47%
US Dollar 87.77 -.14%
CRB 318.51 +1.22%
Futures Spot Prices
Crude Oil 64.25 +1.87%
Unleaded Gasoline 188.00 +3.16%
Natural Gas 9.00 +4.06%
Heating Oil 181.80 +2.33%
Gold 441.80 +.48%
Base Metals 127.38 +1.69%
Copper 163.00 +1.40%
10-year US Treasury Yield 4.40% +.37%
Leading Sectors
Steel +2.10%
Oil Service +2.04%
Broadcasting +1.90%
Lagging Sectors
Computer Hardware +.04%
Networking -1.21%
Internet -1.57%
BOTTOM LINE: The Portfolio is unchanged mid-day as losses in my Internet longs offset gains in my Semiconductor longs. I have not traded today, thus leaving the Portfolio 75% net long. The tone of the market is modestly positive as the advance/decline line is higher, most sectors are higher and volume is about average. Measures of investor anxiety are mixed. Today’s overall market action is positive considering the rise in oil and long-term rates. Insider Buy of Note: The CFO of General Growth Properties (GGP), a regional mall REIT, recently added 20,000 shares at $41.93. I expect US stocks to trade modestly higher into the close on short-covering.
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