Stocks Slightly Lower into Final Hour on FOMC Minutes and Small Plane Crash in NYC

BOTTOM LINE: The Portfolio is slightly lower into the final hour on losses in my Telecom longs and Retail longs. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is negative as the advance/decline line is lower, sector performance is mixed and volume is about average. Oil is falling another $1/bbl. despite OPEC production cuts and more calls from large energy speculators for $100/bbl. oil. I continue to believe recent consolidating action is healthy, considering recent gains. I still expect another substantial push higher in the major averages over the coming weeks. I expect US stocks to trade mixed-to-higher into the close from current levels on short-covering, investment manager performance anxiety and lower energy prices.