Stocks Sharply Higher Into Final Hour, Led by Technology Shares

BOTTOM LINE: The Portfolio is higher into the final hour on gains in my Internet longs, Computer longs and Semi longs. I exited my (IWM) and (QQQQ) shorts today, thus leaving the Portfolio 100% net long. The tone of the market is very positive as the advance/decline line is substantially higher, almost every sector is rising and volume is heavy. Apple (AAPL) looks like it found support around the 200-day moving average. I expect the stock has bottomed and will trade substantially higher before year's end. I am still long (AAPL). One by one, the Nasdaq is getting its leadership back. I expect the index to substantially outperform during the second quarter. I expect US stocks to trade mixed into the close from current levels as short-covering offsets profit-taking.