Between the Hedges Between the Hedges

Portfolio Manager's commentary on investing and trading in the U.S. financial markets

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Friday, August 25, 2006

Stocks Mixed into Final Hour on Low Volume 

BOTTOM LINE: The Portfolio is about even into the final hour as gains in my Networking longs offset losses in my Commodity shorts. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is neutral as the advance/decline line is about even, sector performance is mixed and volume is very light. Ben Bernanke's silence on monetary policy this morning implies the market has it right, in my opinion. I continue to believe there is virtually zero chance of a rate hike at the Sept. meeting and little chance of another hike this year. The 10-year continues to maintain recent strong gains. I expect US stocks to trade modestly higher into the close from current levels on short-covering, bargain hunting and lower long-term rates.
Posted by: Gary / 2:15 PM

The positions and strategies discussed on Between the Hedges are offered for entertainment purposes and are in no way intended to serve as personal investing advice. Readers should not make any investment decision without first conducting their own thorough due diligence. Readers should assume the editor holds a position in any securities discussed, recommended or panned. While the information provided is obtained from sources believed to be reliable, its accuracy or completeness cannot be guaranteed, nor can this publication be, in any way, considered liable for the future investment performance of any securities or strategies discussed.

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