Stocks Mixed into Final Hour on Weakness in Tech Shares

BOTTOM LINE: The Portfolio is slightly lower into the final hour on losses in my Semi longs, Networking longs and Medical longs. I added to my (EEM), (IWM) and (QQQQ) shorts and exited a Semi long today, thus leaving the Portfolio 25% net long. The tone of the market is negative as the advance/decline line is lower, sector performance is mixed and volume is below average. It appears worries over economic growth are increasing. I continue to believe U.S. growth is just slowing and worst case fears of an imminent recession are way overdone. At current stock market valuations, in my opinion, consumer spending would have to plunge for the bears to be proven correct. I find this prospect highly unlikely. I expect US stocks to trade mixed into the close from current levels as lower energy prices and stable long-term rates offset worries over slowing economic growth.