S&P 500 1,214.45 -.59%
DJIA 10,422.46 -.56%
NASDAQ 2,115.01 -.77%
Russell 2000 653.42 -1.09%
DJ Wilshire 5000 12,110.08 -.69%
S&P Barra Growth 580.55 -.43%
S&P Barra Value 629.34 -.76%
Morgan Stanley Consumer 575.31 -.60%
Morgan Stanley Cyclical 714.80 -.53%
Morgan Stanley Technology 495.17 -.83%
Transports 3,606.62 +.62%
Utilities 422.56 -1.10%
Put/Call 1.20 +14.29%
NYSE Arms 1.37 -21.46%
Volatility(VIX) 13.59 +7.52%
ISE Sentiment 136.00 -30.0%
US Dollar 88.09 -.58%
CRB 327.18 +.62%
Futures Spot Prices
Crude Oil 66.85 +1.06%
Unleaded Gasoline 205.00 +3.71%
Natural Gas 12.60 +1.02%
Heating Oil 203.75 +1.18%
Gold 474.10 +.87%
Base Metals 129.87 +2.17%
Copper 170.50 +2.34%
10-year US Treasury Yield 4.18% -1.33%
Leading Sectors %
Gold & Silver +3.10%
Steel +2.26%
Coal +1.13%
Lagging Sectors
Restaurants -1.88%
Defense -2.14%
Airlines -3.16%
BOTTOM LINE: The Portfolio is higher mid-day on gains in my Internet longs and ETF shorts. I trimmed a few existing longs and added to my IWM/QQQQ shorts this morning, thus leaving the Portfolio market neutral. The tone of the market is negative as the advance/decline line is substantially lower, most sectors are declining and volume is about average. Measures of investor anxiety are higher. Today’s overall market action is slightly negative given the risks posed by Hurricane Rita. During the week ended Sept. 16, the financial industry saw the greatest net insider selling in the S&P 500. Insiders sold $218,257,450 worth of stock and bought $585,819. I expect US stocks to trade mixed-to-lower from current levels into the close on increasing worries over economic growth and Hurricane Rita.
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