S&P 500 1,381.91 -1.36%
DJIA 12,121.71 -1.29%
NASDAQ 2,405.92 -2.21%
Russell 2000 772.10 -2.55%
Wilshire 5000 13,868.82 -1.51%
S&P Barra Growth 641.92 -1.38%
S&P Barra Value 737.77 -1.34%
Morgan Stanley Consumer 667.23 -1.26%
Morgan Stanley Cyclical 874.79 -1.82%
Morgan Stanley Technology 567.50 -2.74%
Transports 4,789.15 -1.16%
Utilities 446.84 -.83%
Put/Call 1.28 +26.73%
NYSE Arms 1.73 +13.83%
Volatility(VIX) 12.30 +14.63%
ISE Sentiment 119.0 +12.26%
US Dollar 83.51 -.18%
CRB 313.01 +1.31%
Futures Spot Prices
Crude Oil 60.36 +1.89%
Unleaded Gasoline 159.0 +.08%
Natural Gas 7.99 +3.63%
Heating Oil 170.55 +2.34%
Gold 647.40 +.05%
Base Metals 243.27 +.10%
Copper 321.0 -.17%
10-year US Treasury Yield 4.53% -.43%
Leading Sectors
Gold & Silver +.57%
Energy -.40%
Drugs -.51%
Lagging Sectors
I-Banks -3.57%
Disk Drives -4.04%
Airlines -4.62%
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
CSFB:
- Rated (DE) Outperform.
Afternoon/Evening Headlines
Bloomberg:
- Cholesterol-lowering drugs such as Pfizer’s(PFE) Lipitor, taken by millions of Americans in danger of heart attacks and strokes, also slash the risk of those afflictions among the healthy.
- Palm Inc.(PALM) cut its second-quarter forecast, saying it is taking longer than anticipated to make its latest Treo device compatible with US wireless networks. The shares fell 7.3% after-hours.
- The US Supreme Court refused to block federal prosecutors from reviewing the phone records of two NY Times(NYT) reporters who allegedly tipped off the targets of a terrorist fundraising probe.
- NYSE short interest fell .7% to 9.65 billion shares as of mid-November, just off all-time highs set in October.
- US crude-oil inventories probably rose as higher imports helped meet demand from refineries returning to service after being shut for maintenance, a Bloomberg survey showed.
- ConocoPhillips(COP) and Anadarko Petroleum announced the start up of a second Alpine satellite oil field on Alaska’s North Slope.
Gainesville Sun:
- The presidents of the University of Florida and Florida State are working together on a college football playoff system to replace the Bowl Championship Series.
BOTTOM LINE: The Portfolio finished lower today on losses in my Semi longs, Internet longs and Computer longs. I added (EEM), (IWM) and (QQQQ) hedges in the final hour, thus leaving the Portfolio 75% net long. The tone of the market was very negative today as the advance/decline line finished substantially lower, almost every sector fell and volume was about average. Measures of investor anxiety were higher into the close. Today's overall market action was bearish. The market's inability to bounce in any meaningful way, as I had expected, is not a good sign. However, volume was only average. Investor anxiety was elevated throughout the day. The last time the NYSE Arms closed this high was in July. Sellers seemed to lack conviction today even as buyers stepped away. I suspect losses in overseas markets tonight could lead to some more weakness tomorrow morning here. Overall, I view today’s sell-off as a healthy pullback after extraordinary gains.
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