S&P 500 1,228.64 -.21%
DJIA 10,567.82 -.28%
NASDAQ 2,157.66 -.65%
Russell 2000 667.84 -.79%
DJ Wilshire 5000 12,276.87 -.26%
S&P Barra Growth 587.37 -.32%
S&P Barra Value 636.98 -.11%
Morgan Stanley Consumer 582.51 -.37%
Morgan Stanley Cyclical 741.34 -.37%
Morgan Stanley Technology 505.06 -1.0%
Transports 3,586.76 -.13%
Utilities 419.82 +.64%
Put/Call .81 -22.12%
NYSE Arms .64 -41.54%
Volatility(VIX) 13.11 +6.05%
ISE Sentiment 191.00 +37.41%
US Dollar 87.63 -.14%
CRB 320.02 +.64%
Futures Spot Prices
Crude Oil 64.30 +1.89%
Unleaded Gasoline 190.00 +.44%
Natural Gas 10.99 +2.11%
Heating Oil 189.25 +2.84%
Gold 453.90 +.87%
Base Metals 127.71 -.48%
Copper 161.10 -.89%
10-year US Treasury Yield 4.16% +.89%
Leading Sectors %
Gold & Silver +3.08%
Oil Service +1.45%
Energy +1.22%
Lagging Sectors
Networking -.67%
Gaming -.67%
Restaurants -1.14%
BOTTOM LINE: The Portfolio is slightly lower mid-day on losses in my Internet longs, Medical Technology longs and Semiconductor longs. I added to my existing shorts this morning, including IWM and QQQQ, thus leaving the Portfolio 25% net long. The tone of the market is negative as the advance/decline line is lower, most sectors are lower and volume is about average. Measures of investor anxiety are mostly lower. Today’s overall market action is slightly negative given the bounce in energy prices and rise in long-term rates. Insider Buy of Note: A director of Trimeris Inc.(TRMS) recently purchased 197,600 shares between $11.35-$12.02. He now holds 383,100 shares. TRMS is up 5.9% today on above-average volume. I expect US stocks to trade modestly lower from current levels into the close on increasing worries over high energy prices.
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