Tuesday, March 14, 2006

Stocks Finish at Session Highs on Decline in Long-term Rates and Earnings Optimism

Indices
S&P 500 1,297.48 +1.04%
DJIA 11,151.34 +.68%
NASDAQ 2,295.90 +1.27%
Russell 2000 736.10 +1.11%
Wilshire 5000 13,047.74 +1.03%
S&P Barra Growth 612.51 +.94%
S&P Barra Value 681.57 +1.14%
Morgan Stanley Consumer 613.62 +.32%
Morgan Stanley Cyclical 793.32 +1.58%
Morgan Stanley Technology 538.22 +1.58%
Transports 4,494.70 +.91%
Utilities 405.60 +1.20%
Put/Call .72 -15.29%
NYSE Arms .59 -21.35%
Volatility(VIX) 10.74 -5.54%
ISE Sentiment 136.00 +15.25%
US Dollar 90.02 -.59%
CRB 326.97 +1.23%

Futures Spot Prices
Crude Oil 62.89 -.33%
Unleaded Gasoline 185.00 -.86%
Natural Gas 7.13 -.45%
Heating Oil 181.05 -.59%
Gold 552.60 -.07%
Base Metals 167.75 +1.21%
Copper 225.10 -.13%
10-year US Treasury Yield 4.68% -1.69%

Leading Sectors
+3.58%
Airlines +2.87%
I-Banks +2.41%

Lagging Sectors
Hospitals +.16%
Gaming -.16%
Broadcasting -.44%

Evening Review
Detailed Market Summary
Market Gauges
Daily ETF Performance
Style Performance
Market Wrap CNBC Video(bottom right)
S&P 500 Gallery View
Economic Calendar
Timely Economic Charts
GuruFocus.com
PM Market Call
After-hours Movers
Real-time/After-hours Stock Quote
In Play

Afternoon Recommendations
CSFB:
- Rated LRCX Outperform.
- Rated FEIC Underperform.

Afternoon/Evening Headlines
Bloomberg:
- Acquicor Technology, led by Apple Computer’s(AAPL) former CEO Gilbert Amelio and co-founder Steve Wozniak, raised $150 million today to shop for a technology company.
- A rally in US Treasuries drove 10-year notes to their biggest gain since December.
- Google(GOOG) may be forced to help the Dept. of Justice crack down on child pornography, a federal judge said.
- Crude oil surged on forecasts that US inventories of gasoline fell as refiners prepare for the summer driving season.
- CBS Sports and Apple Computer(AAPL) announced they will bring the 2006 NCAA men’s basketball championship to the iTunes Music Store.

NY Times:
- Mike Wallace, a “60 Minutes” correspondent since 1968, will retire at the end of the current television season.
BOTTOM LINE: The Portfolio finished substantially higher today on gains in my Computer longs, Semi longs, Retail longs, Biotech longs and Networking longs. I did not trade in the final hour, thus leaving the Portfolio 100% net long. The tone of the market was positive today as the advance/decline line finished higher, almost every sector rose and volume was about average. Measures of investor anxiety were lower into the close. Overall, today's market performance was bullish. I would like to see higher volume on a confirmation move higher in the next few days. Decelerating inflation readings or lower energy prices should provide the catalysts.

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