Stocks Slightly Lower into Final Hour on Political Uncertainty and Growth Worries

BOTTOM LINE: The Portfolio is slightly lower into the final hour on losses in my Retail longs. I covered some of my (IWM) and (QQQQ) hedges today, thus leaving the Portfolio 75% net long. The tone of the market is slightly negative as the advance/decline line is lower, sector performance was mixed and volume is above average. I disagree with those who think a strong employment report tomorrow will hurt stocks. I think investors are now much more concerned with slowing growth, rather than rising inflation. I suspect the change in non-farm payrolls will come in around estimates of 123K. I expect US stocks to trade mixed-to-higher into the close from current levels on short-covering and falling energy prices.