BOTTOM LINE: The Portfolio is slightly lower into the final hour as losses in my technology longs are more than offsetting gains in my energy-related shorts. I added to my (IWM) and (QQQQ) shorts, thus leaving the Portfolio 25% net long. The tone of the market is negative as the advance/decline line is substantially lower, sector performance is mostly negative and volume is about average. It is short-term bearish that stocks have continued to weaken even as oil trades near session lows and the 10-year Treasury note yield has reversed 7 basis points lower. I expect US stocks to trade mixed-to-lower into the close from current levels on continuing weakness in energy and tech shares.
Tuesday, March 07, 2006
Stocks Lower into Final Hour, Pressured by Energy and Tech Shares
Posted by Gary .....at 3:05 PM