S&P 500 1,225.63 -.06%
DJIA 10,547.92 -.10%
NASDAQ 2,169.92 -.37%
Russell 2000 661.67 -.17%
DJ Wilshire 5000 12,214.98 -.14%
S&P Barra Growth 588.12 -.13%
S&P Barra Value 633.02 -.02%
Morgan Stanley Consumer 584.57 -.07%
Morgan Stanley Cyclical 753.46 +.10%
Morgan Stanley Technology 502.28 +.02%
Transports 3,733.26 +.04%
Utilities 391.77 -1.05%
Put/Call .82 -29.31%
NYSE Arms .84 -22.74%
Volatility(VIX) 13.18 +5.61%
ISE Sentiment 129.00 -37.38%
US Dollar 87.91 -.17%
CRB 317.86 +.39%
Futures Spot Prices
Crude Oil 63.55 +1.99%
Unleaded Gasoline 186.00 +1.52%
Natural Gas 8.61 -1.03%
Heating Oil 178.40 +3.05%
Gold 440.30 -.61%
Base Metals 127.23 -.53%
Copper 164.60 -.18%
10-year US Treasury Yield 4.40% +.46%
Leading Sectors
Steel +2.80%
Energy +2.11%
Oil Service +1.71%
Lagging Sectors
Biotech -1.60%
Broadcasting -1.93%
Homebuilders -2.19%
BOTTOM LINE: The Portfolio is unchanged mid-day as gains in my Medical and Internet longs offset losses in my Semiconductor and Retail longs. I have not traded today, thus leaving the Portfolio 50% net long. The tone of the market is modestly negative as the advance/decline line is lower, most sectors are lower and volume is light. Measures of investor anxiety are mixed. Today’s overall market action is neutral considering the rise in rates/oil and recent gains. I like the announced acquisition of LabOne (LABS) by Quest Diagnostics (DGX). Both stocks are higher on the news. While a better entry point in Quest shares is likely in the near-term, long-term investors should consider the shares on any pullback. I expect US stocks to trade mixed-to-lower from current levels into the close on rising apprehension ahead of tomorrow's Fed decision.
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