S&P 500 1,296.62 +.09%
DJIA 11,141.33 +.19%
NASDAQ 2,333.27 -.25%
Russell 2000 752.95 -.42%
Wilshire 5000 13,104.68 -.01%
S&P Barra Growth 608.83 +.12%
S&P Barra Value 684.82 +.05%
Morgan Stanley Consumer 603.24 -.02%
Morgan Stanley Cyclical 825.40 -.16%
Morgan Stanley Technology 551.36 -.60%
Transports 4,667.13 -.50%
Utilities 388.22 +.54%
Put/Call .83 -6.74%
NYSE Arms .87 -34.71%
Volatility(VIX) 12.19 -.57%
ISE Sentiment 149.00 -1.32%
US Dollar 89.67 -.02%
CRB 339.99 +.83%
Futures Spot Prices
Crude Oil 68.76 +.03%
Unleaded Gasoline 201.35 +.21%
Natural Gas 6.94 +.81%
Heating Oil 194.54 +3.34%
Gold 603.10 +.22%
Base Metals 190.67 +2.62%
Copper 271.85 +.35%
10-year US Treasury Yield 4.95% -.41%
Leading Sectors
Oil Service +2.15%
Energy +1.72%
Broadcasting +.83%
Lagging Sectors
HMOs -1.53%
Disk Drives -1.89%
Airlines -2.12%
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
Citigroup:
- Rated BAC, WFC and JPM Buy.
Afternoon/Evening Headlines
Bloomberg:
- Time Warner’s(TWX) AOL Internet unit may reverse a revenue slide as early as this year, buoyed by a pickup in online advertising and a slowing in customer defections, CEO Parsons said.
- Fidelity Investments almost doubled its holdings in AMR Corp.(AMR) since year-end to become the biggest shareholder in the parent of American Airlines.
- Alcoa Inc.(AA) said its first-quarter profit more than doubled to a record $608 million as metal prices surged.
- Oracle Corp.(ORCL) predicted $250 million to $300 million in annual costs to expense employee stock options.
BOTTOM LINE: The Portfolio finished lower today on losses in my Semi longs, Networking longs and Energy-related shorts. I did not trade in the final hour, thus leaving the Portfolio 50% net long. The tone of the market was negative today as the advance/decline line finished lower, sector performance was mostly negative and volume was about average. Measures of investor anxiety were mostly lower into the close. Overall, today's market performance was mildly bearish. On the positive side, the bears were unable to capitalize meaningfully on Friday's reversal even as oil approached $70/bbl. The rolling corrections that have characterized trading in individual stocks are helping keep the major averages in bull mode. The networking sector is currently in the midst of one of these declines. I expect this will provide a very good entry point in these stocks over the next few weeks.
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