S&P 1,292.99 -.45%
DJIA 11,297.90 -.37%
NASDAQ 2,134.66 -.71%
Russell 2000 698.42 -1.32%
Wilshire 5000 12,902.63 -.56%
S&P Barra Growth 598.39 -.47%
S&P Barra Value 692.83 -.43%
Morgan Stanley Consumer 629.90 -.08%
Morgan Stanley Cyclical 789.39 -.64%
Morgan Stanley Technology 493.45 -.87%
Transports 4,270.73 -.73%
Utilities 437.41 -1.02%
Put/Call 1.32 +11.86%
NYSE Arms 1.11 +6.78%
Volatility(VIX) 12.40 +1.72%
ISE Sentiment 120.00 +90.48%
US Dollar 85.13 -.05%
CRB 334.71 -.58%
Futures Spot Prices
Crude Oil 71.68 -1.94%
Unleaded Gasoline 185.55 -4.32%
Natural Gas 6.95 -.76%
Heating Oil 200.00 -1.80%
Gold 631.50 -.24%
Base Metals 230.81 -.84%
Copper 346.05 -.20%
10-year US Treasury Yield 4.80% unch.
Leading Sectors
Papers +.68%
Airlines +.11%
Drugs +.11%
Lagging Sectors
Energy -1.62%
Steel -1.74%
Oil Service -2.19%
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
- None of note
Afternoon/Evening Headlines
Bloomberg:
- Crude oil fell more than $1/bbl. and gasoline plunged after an EIA report showed an unexpected increase in US supplies of the motor fuel.
- DuPont(DD), the world’s biggest producer of materials for solar cells, said it will build a $50 million resin factory in North Carolina to meet growing demand for photovoltaic panels that convert sunlight into electricity.
Drug Store News:
- Rite Aid(RAD) may buy all of Jean Coutu Group’s Brooks and Eckerd drugstores in the US in an all-stock deal to be announced as early as Aug. 25.
BOTTOM LINE: The Portfolio finished slightly lower today as losses in my Retail longs and Medical longs more than offset gains in my Base Metal shorts 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, most sectors fell and volume was below average. Measures of investor anxiety were mostly higher into the close. Overall, today's market performance was bearish. Stocks ground lower throughout the day with most sectors contributing to today's decline. On the positive side, volume was below-average and energy prices fell again. Unleaded gas futures have plunged over 20% in less than a month ahead of Labor Day. My measures of investor angst were elevated throughout the day. Moreover, the bears were unable to gain significant downside traction. I want to see the market's reaction to tomorrow's likely weaker-than-expected New Home Sales report before further shifting exposure.
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