S&P 500 1,379.78 +1.13%
DJIA 12,105.55 +1.0%
NASDAQ 2,365.95 +1.51%
Russell 2000 763.08 +1.37%
Wilshire 5000 13,807.14 +1.16%
S&P Barra Growth 641.01 +1.16%
S&P Barra Value 736.55 +1.11%
Morgan Stanley Consumer 671.68 +.90%
Morgan Stanley Cyclical 855.07 +1.22%
Morgan Stanley Technology 554.91 +1.61%
Transports 4,694.96 +1.78%
Utilities 443.36 -.54%
Put/Call .75 -16.67%
NYSE Arms .63 -40.78%
Volatility(VIX) 11.16 unch.
ISE Sentiment 162.00 +38.46%
US Dollar 85.75 +.05%
CRB 311.72 +.58%
Futures Spot Prices
Crude Oil 60.07 +1.57%
Unleaded Gasoline 152.90 +1.47%
Natural Gas 7.44 -5.58%
Heating Oil 171.95 +2.50%
Gold 624.60 -.53%
Base Metals 244.73 -.29%
Copper 334.00 +.09%
10-year US Treasury Yield 4.69% -.47%
Leading Sectors
HMOs +2.86%
Airlines +2.77%
I-Banks +2.58%
Lagging Sectors
Utilities -.54%
Oil Tankers -.85%
Gold & Silver -1.23%
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
Oppenheimer:
- Rated (ALO) Buy, target $30.
Afternoon/Evening Headlines
Bloomberg:
- US gasoline at the pump fell 1.8 cents to $2.20 a gallon, the lowest in 10-months.
- Natural gas fell 5% on forecasts for mild weather amid record inventories for the commodity.
- US Secretary of State Condoleezza Rice said the US role in Cuba must be to “insist” that Cubans “have a real opportunity for a true democracy.”
- NTP Inc., the patent-licensing firm that collected $612.5 million from Research In Motion in a patent dispute, said it’s turning its sights on Palm Inc.(PALM).
- The use of muscle-building anabolic steroids, often thought to cause impulsive and aggressive behavior, is also linked to more planned crimes involving fraud and weapons, a study has found.
Wall Street Journal:
- Nigeria is working toward boosting oil production, provided it can bring an end to attacks by militants on installations in the Niger Delta that are curbing output by about 500,000 barrels a day, citing Oil Minister Edmund Daukoru. Daily output would be 3 million barrels if not for the attacks, and may rise to 4 million in two years, Daukoru said.
BOTTOM LINE: The Portfolio finished higher today on gains in my Internet longs, Semi longs, Medical longs, Computer longs and Biotech longs. I did not trade in the final hour, thus leaving the Portfolio 100% net long. The tone of the market was very positive today as the advance/decline line finished substantially higher, almost every sector rose and volume was above average. Measures of investor anxiety were mostly lower into the close. Today's overall market action was very bullish. Natural Gas fell 5% today, notwithstanding the bounce higher in crude. I still suspect natural gas made another meaningful top a couple of weeks ago. Natural gas speculative longs are back near record levels. The number of natural gas speculative long contracts on the Nymex has risen 272% since March. In my opinion, the current level of natural gas is mostly related to another bout of record speculation by investment funds, as inventories remain near record highs for this time of the year. Natural gas futures are now in their seasonally weak period.
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