Tuesday, October 25, 2005

Stocks Rebound into Close, Finishing Slightly Lower

Indices
S&P 500 1,196.54 -.24%
DJIA 10,377.87 -.07%
NASDAQ 2,109.45 -.30%
Russell 2000 642.73 -.60%
DJ Wilshire 5000 11,945.29 -.25%
S&P Barra Growth 574.71 -.32%
S&P Barra Value 617.62 -.15%
Morgan Stanley Consumer 583.50 -.36%
Morgan Stanley Cyclical 701.35 -.15%
Morgan Stanley Technology 500.92 -.89%
Transports 3,736.74 +.32%
Utilities 397.41 +.02%
Put/Call .88 +25.71%
NYSE Arms .98 +95.11%
Volatility(VIX) 14.53 -1.42%
ISE Sentiment 197.00 -18.60%
US Dollar 89.29 -.91%
CRB 329.19 +2.44%

Futures Spot Prices
Crude Oil 62.24 -.29%
Unleaded Gasoline 165.00 -.23%
Natural Gas 14.35 +.08%
Heating Oil 188.14 -.45%
Gold 474.50 -.04%
Base Metals 133.69 +1.30%
Copper 182.95 +.27%
10-year US Treasury Yield 4.53% +1.99%

Leading Sectors
Oil Service +2.95%
Energy +2.26%
Gold & Silver +1.55%

Lagging Sectors
Gaming -1.95%
Airlines -2.23%
HMOs -4.27%

Evening Review
Detailed Market Summary
Market Gauges
Daily ETF Performance
Style Performance
Market Wrap CNBC Video(bottom right)
S&P 500 Gallery View
Economic Calendar
Timely Economic Charts
GuruFocus.com
PM Market Call
After-hours Movers
Real-time/After-hours Stock Quote
In Play

Afternoon Recommendations
Goldman Sachs:
- Reiterated Outperform on COH and SEPR.
- Reiterated Underperform on CHTR.

Afternoon/Evening Headlines
Bloomberg:
- NBC Universal CEO Wright said the NBC television network is “desperate” and rebuilding the schedule will take more than one season.
- Google is testing a service that may let users sell products online, posing a threat to EBay.
- US Treasury notes fell on expectations the Federal Reserve will keep raising interest rates to slow the economy.
- The US Senate will debate an overhaul of US immigration laws early next year, including whether to establish a guest-worker program, Senate Majority Leader Bill Frist.
- Chipotle Mexican Grill, majority-owned by McDonald’s, filed to sell as much as $100 million in stock in an IPO so McDonald’s can focus on its hamburger business.

BOTTOM LINE: The Portfolio finished slightly lower today on losses in my Retail longs and Energy-related shorts. I exited my IWM and QQQQ shorts and added to a few existing longs in the afternoon, thus leaving the Portfolio 100% net long. The tone of the market was mildly negative today as the advance/decline line finished lower, most sectors declined and volume was about average. Measures of investor anxiety were mostly higher into the close. Overall, today's performance wasn't too bad considering yesterday's gains and the bounce in long-term rates and energy prices. I expect stocks to make another push higher before week's end.

No comments: