Stocks Modestly Higher into Final Hour on Heavy Volume

BOTTOM LINE: The Portfolio is higher into the final hour on gains in my Medical longs, Retail longs and Energy-related shorts. I covered some of my (IWM)/(QQQQ) shorts, thus leaving the Portfolio 75% net long. The tone of the market is slightly positive as the advance/decline line is about even, sector performance is mostly positive and volume is very heavy. Intuitive Surgical (ISRG) is improving technically. Moreover, I continue to believe that analysts have severely underestimated its earnings potential for this year. There are still only two “buys” on the stock and four “holds.” I don't think it is too late for these analysts to upgrade the stock and increase earnings estimates. I expect the stock to make new all-time highs later this year. I am long (ISRG). I expect US stocks to trade modestly higher into the close from current levels on lower energy prices, stable long-term rates and short-covering.