Stocks Higher into Final Hour, Led by Surging Technology Shares

BOTTOM LINE: The Portfolio is higher into the final hour on gains in my Internet longs, Semi longs, Telecom longs and Retail longs. I covered my (IWM)/(QQQQ) hedges today, thus leaving the Portfolio 100% net long. The tone of the market is very positive as the advance/decline line is higher, almost every sector is rising and volume is heavy. This morning CNBC reported that a gas station in Omaha, Nebraska is selling "terror-free" gas. I just heard of this initiative recently. I went to the website and looked at the polling, which I found interesting. Here are some of the findings:

1. 50% said they would drive more than 5 miles to buy fuel that was not originated in the Middle East.
2. 85% believe at least part of the money we spend on gas consumption goes towards the financing of terrorism.
3. 36% said their next vehicle would likely or definitely be hybrid, FFV or biodiesel-powered.

Due to environmental concerns and terrorism worries, I believe that the demand for gas-guzzling vehicles will continue subsiding substantially even if gas prices plunge further, which I expect. I think long-term oil bulls remain amazingly complacent regarding the prospects for alternative energy and conservation given the substantial global demand destruction that is already occurring. I expect US stocks to trade mixed-to-higher into the close from current levels on bargain-hunting, short-covering, stable long-term rates and more economic optimism.