S&P 500 1,223.26 +.38%
DJIA 10,569.10 +.28%
NASDAQ 2,177.93 +.26%
Russell 2000 661.53 +.81%
DJ Wilshire 5000 12,225.22 +.38%
S&P Barra Growth 585.26 +.28%
S&P Barra Value 633.38 +.42%
Morgan Stanley Consumer 587.19 +.34%
Morgan Stanley Cyclical 733.59 +.11%
Morgan Stanley Technology 511.22 +.01%
Transports 3,993.43 +.80%
Utilities 396.86 +.79%
Put/Call .88 +2.33%
NYSE Arms .72 -36.82%
Volatility(VIX) 12.81 -2.06%
ISE Sentiment 139.00 -20.57%
US Dollar 91.50 +.14%
CRB 316.74 -.47%
Futures Spot Prices
Crude Oil 59.05 -1.11%
Unleaded Gasoline 155.00 -.79%
Natural Gas 11.67 -1.04%
Heating Oil 178.75 +.42%
Gold 467.60 +1.15%
Base Metals 136.62 +.28%
Copper 183.15 -.35%
10-year US Treasury Yield 4.63% +1.63%
Leading Sectors %
Oil Tankers +3.57%
Gold & Silver +2.69%
Airlines +1.86%
Lagging Sectors
Hospitals -.50%
Coal -.57%
Restaurants -.57%
BOTTOM LINE: The Portfolio is slightly lower mid-day on losses in my Internet longs, Energy-related shorts and Retail longs. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is positive as the advance/decline line is higher, most sectors are rising and volume is about average. Measures of investor anxiety are mixed. Overall, market action is positive given the rise in long-term rates and recent gains. I expect US stocks to trade modestly higher from current levels into the close on short-covering and lower energy prices.
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