S&P 500 1,256.87 -.20%
DJIA 10,743.68 -.32%
NASDAQ 2,256.83 +.01%
Russell 2000 687.99 -.12%
DJ Wilshire 5000 12,593.73 -.18%
S&P Barra Growth 602.06 -.01%
S&P Barra Value 650.73 -.34%
Morgan Stanley Consumer 590.06 -.12%
Morgan Stanley Cyclical 778.47 -.28%
Morgan Stanley Technology 535.01 +.47%
Transports 4,062.55 -.97%
Utilities 407.35 -.60%
Put/Call .69 -13.75%
NYSE Arms .99 -3.59%
Volatility(VIX) 11.65 -.34%
ISE Sentiment 198.00 +1.02
US Dollar 90.27 -1.07%
CRB 331.92 +1.27%
Futures Spot Prices
Crude Oil 60.40 +1.70%
Unleaded Gasoline 162.70 +1.38%
Natural Gas 14.83 +3.62%
Heating Oil 175.50 +1.34%
Gold 531.50 +.25%
Base Metals 151.76 -1.53%
Copper 198.60 -2.17%
10-year US Treasury Yield 4.55% +.74%
Leading Sectors
Broadcasting +.97%
Energy +.73%
Gaming +.46%
Lagging Sectors
Telecom -.66%
Banks -.72%
HMOs -1.13%
BOTTOM LINE: The Portfolio is slightly higher mid-day on gains in my Medical longs, Internet longs and Semi longs. I added RGLD short this morning and added to a few existing longs, thus leaving the Portfolio 100% net long. The tone of the market is negative as the advance/decline line is higher, most sectors are lower and volume is about average. Measures of investor anxiety are lower. Overall, today’s market action is slightly negative considering overnight gains in Asia and higher energy prices. The Energy sector saw the greatest insider selling in the S&P 500 for the week ending Dec. 9. Total insider sales for the group were $79,691,434 last week. Total insider purchases were $0. This is the largest amount of insider selling in Energy I have seen in quite some time. I expect US stocks to trade mixed-to-higher into the close on short-covering.
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