S&P 500 1,211.27 +.24%
DJIA 10,424.76 +.12%
NASDAQ 2,137.25 +.35%
Russell 2000 661.67 +1.21%
DJ Wilshire 5000 12,112.46 +.41%
S&P Barra Growth 580.37 +.26%
S&P Barra Value 626.82 +.25%
Morgan Stanley Consumer 578.04 +.02%
Morgan Stanley Cyclical 730.23 +.02%
Morgan Stanley Technology 493.74 +.30%
Transports 3,655.37 +.20%
Utilities 404.88 +.42%
Put/Call .77 -25.24%
NYSE Arms 1.13 +2.29%
Volatility(VIX) 13.32 -2.34%
ISE Sentiment 134.00 -6.94%
US Dollar 87.60 -.85%
CRB 328.27 -.88%
Futures Spot Prices
Crude Oil 67.80 -2.74%
Unleaded Gasoline 260.00 +5.05%
Natural Gas 11.25 -3.51%
Heating Oil 203.25 -2.09%
Gold 438.50 +.69%
Base Metals 129.38 -.74%
Copper 162.00 -1.64%
10-year US Treasury Yield 4.02% -1.59%
Leading Sectors
Oil Tankers +4.24%
Homebuilders +2.75%
Oil Service +2.34%
Lagging Sectors
Airlines -.64%
Insurance -1.06%
Gaming -1.33%
BOTTOM LINE: The Portfolio is lower mid-day on losses in my Internet longs and Oil Tanker shorts. I added to my IWM and QQQQ shorts this morning, thus leaving the Portfolio 25% net long. The tone of the market is positive as the advance/decline line is higher, sector performance is mixed and volume is below average. Measures of investor anxiety are mixed. Today’s overall market action is very positive given the disappointing Chicago PMI and rise in gas prices. I expect US stocks to trade mixed from current levels into the close as short-covering offsets worries over economic growth.
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