S&P 500 1,262.24 +.51%
DJIA 10,797.55 +.39%
NASDAQ 2,257.97 +.52%
Russell 2000 689.08 +.56%
DJ Wilshire 5000 12,640.89 +.49%
S&P Barra Growth 603.17 +.34%
S&P Barra Value 654.92 +.70%
Morgan Stanley Consumer 592.04 +.41%
Morgan Stanley Cyclical 782.78 +.68%
Morgan Stanley Technology 533.33 +.85%
Transports 4,109.82 +.68%
Utilities 410.57 +.98%
Put/Call .81 -18.18%
NYSE Arms 1.05 -9.53%
Volatility(VIX) 11.59 -5.08%
ISE Sentiment 197.00 unch.
US Dollar 91.23 -.03%
CRB 327.39 -.92%
Futures Spot Prices
Crude Oil 59.20 -2.41%
Unleaded Gasoline 160.70 -1.08%
Natural Gas 14.34 -4.30%
Heating Oil 172.20 -3.43%
Gold 529.10 +1.22%
Base Metals 154.13 +.77%
Copper 203.00 unch.
10-year US Treasury Yield 4.53% +1.45%
Leading Sectors
Semis +1.71%
HMOs +1.54%
Banks +1.45%
Lagging Sectors
Gold & Silver -1.21%
Airlines -1.30%
Energy -1.37%
BOTTOM LINE: The Portfolio is higher mid-day on gains in my Medical longs, Internet longs, Semi longs, Energy-related shorts and Retail longs. I have not traded this 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 higher and volume is about average. Measures of investor anxiety are mostly lower. Overall, today’s market action is positive considering the bounce in long-term rates and declines in energy-related stocks. The ECRI Weekly Leading Index rose to 135.70 this week from 135.50 the prior week. This is still near cycle highs of 135.80 and up from 132.00 during the last week of May. This gauge of future economic activity is forecasting healthy U.S. growth. I expect US stocks to trade mixed-to-higher into the close on falling energy prices and rising optimism.
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