S&P 500 1,260.17 +.02%
DJIA 10,813.79 -.21%
NASDAQ 2,224.70 +.09%
Russell 2000 675.49 +.48%
DJ Wilshire 5000 12,589.06 +.09%
S&P Barra Growth 603.67 -.04%
S&P Barra Value 652.05 +.08%
Morgan Stanley Consumer 599.76 -.12%
Morgan Stanley Cyclical 780.01 -.03%
Morgan Stanley Technology 524.68 -.23%
Transports 4,117.59 +.24%
Utilities 413.59 +.35%
Put/Call 1.13 +21.51%
NYSE Arms 1.14 +24.91%
Volatility(VIX) 11.15 -1.85%
ISE Sentiment 252.00 +8.15%
US Dollar 90.84 +1.07%
CRB 325.74 -.11%
Futures Spot Prices
Crude Oil 57.90 +.98%
Unleaded Gasoline 151.40 -.84%
Natural Gas 13.98 -.45%
Heating Oil 172.20 +1.10%
Gold 495.80 -2.0%
Base Metals 151.09 -.68%
Copper 202.10 +.40%
10-year US Treasury Yield 4.46% +.53%
Leading Sectors
Oil Service +2.13%
Gaming +1.87%
HMOs +1.68%
Lagging Sectors
Disk Drives -.84%
Telecom -.89%
Gold & Silver -1.94%
BOTTOM LINE: The Portfolio is slightly lower mid-day on losses in my Energy-related shorts. I covered some of my IWM and QQQQ shorts this morning and added to my ELOS, ANF and BRCM longs, thus leaving the Portfolio 75% net long. The tone of the market is slightly positive as the advance/decline line is slightly higher, most sectors are higher and volume is about average. Measures of investor anxiety are mixed. Overall, today’s market action is neutral considering more positive economic data and the bears inability to extend yesterday’s sell-off. The Johnson Redbook same-store sales index rose 3.4% year-over-year last week vs. a 3.3% rise the prior week. This week's gain is up from a 1.5% increase in late April, and it's the 33rd week in a row that the index has risen 3% or more. The Morgan Stanley Retail Index (MVRX) has returned 14.3% since late October vs. a 7.6% gain for the S&P 500. I expect US stocks to trade mixed-to-higher into the close on short-covering.
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