Stocks Lower into Final Hour on Profit-taking and Growth Worries

BOTTOM LINE: The Portfolio is lower into the final hour on losses in my Medical longs, Computer longs and Retail longs. I added to my (ISRG) long, took some more profits in my (TLT) long, added (EEM), (IWM) and (QQQQ) hedges today, thus leaving the Portfolio 75% net long. The tone of the market is negative as the advance/decline line is lower, most sectors are falling and volume is above-average. The major averages and breadth are at session lows on worries over comments from Goldman Sachs that PC motherboard shipments in Asia have fallen off a cliff in October. I suspect this is related to Vista. We appear to be in another period of worries that economic growth is slowing too much. I also believe uncertainty over the election is beginning to weigh on equities. I suspect the major averages will trade mixed-to-lower until after the election on Nov. 7. I expect US stocks to trade mixed into the close from current levels as short-covering and lower long-term rates offsets worries over slowing growth.