S&P 500 1,145.99+54%
NASDAQ 2072.08+.56%
Leading Sectors
Oil Service+2.57%
Telecom+1.3%
Fashion+1.26%
Lagging Sectors
I-Banks-.44%
Disk Drives-.71%
Homebuilders-.89%
Other
Crude Oil 33.53+2.13%
VIX 16.05-2.07%
Market Movers
JNPR up on volume due to multiple upgrades from Pacific Crest,Raymond James, American Technology and Prudential.
ACDO up on 10-yr agreement with Medco to provide its specialty product lines to Medco members.
CHPC up on acquisition by Singapore-based ST Assembly Test Services. World's second largest provider of chip-testing services said it is betting on a "significant recovery" in demand.
FWHT down on earnings report and lowered guidance.
SHRP down on downgrade by WR Hambrecht.
Oil Service/Energy sectors up on OPEC production cut April 1.
Mid-day News
U.S. stocks are up modestly at mid-day on strength in energy and technology related shares. Volume is light ahead of Greenspan's testimony tomorrow. Iraqi police station blast kills 50, wounds dozens. General Motors, which plans to sell vehicles powered by low-pollution fuel cells in the U.S. by 2010, started up the first of 400 fuel cells planned for a test at Dow Chemical plant in Texas. Merrill Lynch announced a $2B stock buy-back program. OPEC will cut output on April 1. China halts U.S. poultry imports on avian flu concerns. Islamist extremists are being trained in terrorist camps in Pakistan and routed through Europe to Muslim communities in the U.S., the Washington Times reported. 400 terrorists have been or are being trained and dozens have already entered the U.S. according to the report. Dr. Atkins had a history of heart failure, heart attack and hypertension. He weighed 258 lbs at death.
BOTTOM LINE: Overall, a pretty good day. Seems like a pause before another upwards thrust. I haven't traded today. The Portfolio is performing well and is still positioned 80% net long. I will analyze the final hour trading to decide whether or not to make any changes.
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