S&P 500 1,230.27 +1.01%
DJIA 10,558.83 +1.06%
NASDAQ 2,161.74 +.97%
Russell 2000 670.98 +1.15%
DJ Wilshire 5000 12,291.99 +.97%
S&P Barra Growth 589.11 +1.17%
S&P Barra Value 636.67 +.82%
Morgan Stanley Consumer 589.11 +1.10%
Morgan Stanley Cyclical 741.81 +.56%
Morgan Stanley Technology 499.84 +1.08%
Transports 3,683.09 +.83%
Utilities 418.57 +1.05%
Put/Call .94 -16.81%
NYSE Arms .78 -33.86%
Volatility(VIX) 13.23 -2.51%
ISE Sentiment 104.00 -45.26%
US Dollar 86.55 +.32%
CRB 330.55 -.23%
Futures Spot Prices
Crude Oil 66.20 -2.03%
Unleaded Gasoline 213.40 -2.28%
Natural Gas 11.80 +.93%
Heating Oil 208.75 -.17%
Gold 448.60 +.18%
Base Metals 130.71 -.91%
Copper 166.10 -.75%
10-year US Treasury Yield 4.07% +1.18%
Leading Sectors %
Restaurants +1.92%
Retail +1.89%
Internet +1.80%
Lagging Sectors
Oil Tankers -.33%
Steel -.37%
Gold & Silver -.43%
BOTTOM LINE: The Portfolio is higher mid-day on gains in my Energy-related shorts, Retail longs and Computer longs. I added to some existing longs this morning and covered some of my shorts, thus leaving the Portfolio 50% net long. The tone of the market is positive as the advance/decline line is higher, almost every sector is higher and volume is below average. Measures of investor anxiety are mostly lower. Today’s overall market action is positive given the worries over the effects from Katrina. During the week ended Sept. 2, the energy industry saw the greatest net insider selling in the S&P 500. Insiders sold $55,855,662 worth of stock and bought no stock. Oil is down $1.62 today to $65.95, near session lows. I expect US stocks to trade mixed from current levels into the close as worries over economic growth offset lower energy prices.
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