S&P 500 1,270.99 +.17%
DJIA 10,852.94 +.05%
NASDAQ 2,258.66 +.66%
Russell 2000 688.71 +.68%
DJ Wilshire 5000 n/a
S&P Barra Growth 607.75 +.15%
S&P Barra Value 658.29 +.06%
Morgan Stanley Consumer 596.76 +.14%
Morgan Stanley Cyclical 795.36 +.37%
Morgan Stanley Technology 534.63 +.63%
Transports 4,240.37 +.97%
Utilities 412.16 -.34%
Put/Call .76 +5.56%
NYSE Arms 1.03 +38.51%
Volatility(VIX) 11.53 +3.50%
ISE Sentiment 182.00 +11.66%
US Dollar 89.08 -.85%
CRB 337.66 +.40%
Futures Spot Prices
Crude Oil 63.35 +.33%
Unleaded Gasoline 175.60 +.31%
Natural Gas 10.19 -4.10%
Heating Oil 181.25 +.90%
Gold 536.20 +.69%
Base Metals 155.94 +1.37%
Copper 209.75 +2.39%
10-year US Treasury Yield 4.35% -.18%
Leading Sectors
Airlines +2.10%
Networking +1.98%
Disk Drives +1.93%
Lagging Sectors
Utilities -.28%
Banks -.40%
Gaming -.86%
BOTTOM LINE: The Portfolio is higher mid-day on gains in my Internet longs, Semi longs, Software longs and Biotech 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 higher and volume is above average. Measures of investor anxiety are mostly higher. I like the action so far today. Above-average volume with good breadth and modest gains for the major averages. Many stocks with exceptional performances yesterday are holding those gains today. A number of leaders are building on yesterday's strong performance. As stocks grind higher, I suspect short-covering will spur another more substantial rally fairly soon. I expect US stocks to trade modestly higher from current levels into the close on short-covering and bargain-hunting.
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