Stocks Rising into Final Hour on Falling Energy Prices, Positive Earnings and Short-covering

BOTTOM LINE: The Portfolio is higher into the final hour on gains in my Semi longs, Networking longs and Biotech longs. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is positive as the advance/decline line is higher, almost every sector is rising and volume is about average. I expect more dovish comments from Fed members over the near term to provide the catalyst for another push higher in stocks. A calming of tensions in the Middle East, lower oil prices and positive earnings reports are also potential catalysts. I continue to believe the bears have overreached by a large extent during this correction. I expect US stocks to trade mixed-to-higher into the close from current levels on short-covering, bargain-hunting, positive earnings reports and lower energy prices.