Stocks Modestly Higher into Final Hour as Commodity Shares Rebound

BOTTOM LINE: The Portfolio is slightly lower into the final hour on losses in my Internet longs, Computer longs, Semi longs and Commodity shorts. I added to my (IWM) and (QQQQ) shorts, thus leaving the Portfolio 50% net long. The tone of the market is positive as the advance/decline line is higher, sector performance is positive and volume is about average. The fact that the tech sector was unable to rally today is a negative. I would like to see this important sector participate before becoming more confident that a tradable bottom is in place for the broad market. I expect US stocks to trade mixed into the close from current levels as weakness in the tech sector offsets bargain hunting and short-covering.