S&P 500 1,231.18 -.42%
DJIA 10,584.87 -.46%
NASDAQ 2,165.43 -.30%
Russell 2000 673.11 -.62%
DJ Wilshire 5000 12,311.10 -.40%
S&P Barra Growth 589.81 -.36%
S&P Barra Value 637.28 -.43%
Morgan Stanley Consumer 587.97 -.54%
Morgan Stanley Cyclical 742.39 -.73%
Morgan Stanley Technology 504.08 +.06%
Transports 3,658.76 -.78%
Utilities 418.54 -.34%
Put/Call .87 +3.57%
NYSE Arms .94 +33.31%
Volatility(VIX) 12.71 +1.52%
ISE Sentiment 156.00 -9.83%
US Dollar 87.13 +.18%
CRB 322.70 -.46%
Futures Spot Prices
Crude Oil 63.70 -1.12%
Unleaded Gasoline 201.35 -.43%
Natural Gas 11.07 -1.17%
Heating Oil 190.75 -2.79%
Gold 450.60 +.36%
Base Metals 127.84 -1.34%
Copper 161.85 -1.73%
10-year US Treasury Yield 4.13% -.09%
Leading Sectors %
Gold & Silver +1.36%
Semis +1.28%
Wireless +.56%
Lagging Sectors
Insurance -.87%
Retail -.93%
Homebuilders -2.0%
BOTTOM LINE: The Portfolio is higher mid-day on gains in my Energy-related shorts, Semiconductor longs, Internet longs and Airline longs. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is negative as the advance/decline line is lower, sector performance is mostly negative and volume is below average. Measures of investor anxiety are higher. Today’s overall market action is slightly negative given declines in the homebuilding sector. The average 30-year mortgage rate remained at 5.71% this week. This is down from 6.04% on April 1 and only 50 basis points away from record lows set in June 2003. I expect US stocks to trade mixed-to-higher from current levels into the close on short covering.
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