BOTTOM LINE: The Portfolio is higher into the final hour on gains in my Semi longs, Computer longs and Commodity shorts. I added to my (BBY), (AAPL) and (UARM) longs and to my (IWM)/(QQQQ) hedges today, thus leaving the Portfolio 75% net long. The tone of the market is slightly positive as the advance/decline line is modestly higher, most sectors are rising and volume is below average. Many market-leading stocks are giving back too much of today’s gains. I want to see better price action before further shifting market exposure. I expect US stocks to trade mixed into the close from current levels as lower energy prices offset higher long-term rates.
Monday, August 14, 2006
Stocks Modestly Higher into Final Hour as Energy Prices Continue Recent Decline
Posted by Gary .....at 3:34 PM