Stocks Mostly Lower Heading into Final Hour as Oil and Rates Rise

BOTTOM LINE: The Portfolio is substantially higher into the final hour on gains in my Semi longs, Internet longs, Networking longs and Computer longs. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is slightly negative as the advance/decline line is modestly lower, sector performance is mixed and volume is above average. Over the last couple of days, volume soared on Ciena (CIEN) as the stock corrected. I expect a lot of the weak hands were shaken out. I am still long Ciena and expect it to trade substantially higher by year-end. The pullback makes for a good long entry point, in my opinion. I expect US stocks to trade mixed-to-higher into the close from current levels on short-covering, stabilizing long-term rates and optimism in the tech sector.