BOTTOM LINE: The Portfolio is higher into the final hour on gains in my Biotech longs, Computer longs, Semi longs, Networking longs and Internet 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 about average. The Fed's Poole is now saying that markets are correctly interpreting the Fed's intentions and that the economy is balanced. He is also saying that there is no danger of inflation suddenly accelerating and that the FOMC is highly likely to discuss inflation targeting. I continue to believe the 10-year T-note yield will top for the year some time during the first half, likely around the time that 1Q GDP is released. I expect US stocks to trade modestly higher into the close from current levels on short-covering, stable long-term rates and bargain hunting.