S&P 500 1,193.26 +1.22%
DJIA 10,364.67 +1.32%
NASDAQ 2,082.17 +.89%
Russell 2000 632.79 +1.46%
DJ Wilshire 5000 11,894.94 +1.30%
S&P Barra Growth 571.76 +1.19%
S&P Barra Value 618.51 +1.41%
Morgan Stanley Consumer 582.93 +1.02%
Morgan Stanley Cyclical 707.40 +1.31%
Morgan Stanley Technology 490.03 +.40%
Transports 3,728.03 +1.46%
Utilities 393.91 +1.78%
Put/Call .82 -26.13%
NYSE Arms .57 -63.17%
Volatility(VIX) 14.51 -9.43%
ISE Sentiment 126.00 -18.18%
US Dollar 89.62 +.58%
CRB 321.85 -.48%
Futures Spot Prices
Crude Oil 61.10 +.10%
Unleaded Gasoline 161.50 +1.41%
Natural Gas 12.99 -5.07%
Heating Oil 184.25 -.61%
Gold 474.80 -.17%
Base Metals 133.00 -.34%
Copper 182.00 +.89%
10-year US Treasury Yield 4.58% +.85%
Leading Sectors %
Airlines +3.32%
Steel +2.72%
REITs +2.40%
Lagging Sectors
Wireless unch.
Coal -.60%
Semis -1.35%
BOTTOM LINE: The Portfolio is slightly higher mid-day on gains in my Internet longs, Retail longs and Airline longs. I covered some of my IWM and QQQQ shorts, thus leaving the Portfolio 75% net long. The tone of the market is positive as the advance/decline line is higher, most sectors are higher and volume is slightly above average. Measures of investor anxiety are mostly lower. Today’s overall market action is positive considering the rise in long-term rates and political news. It appears the lows of two weeks ago will hold and equities should see much better performance through year-end. I expect US stocks to trade modestly higher from current levels into the close on short covering.
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