Monday, December 06, 2004

Monday Close

S&P 500 1,190.25 -.08%
NASDAQ 2,151.25 +.15%

Leading Sectors
Disk Drives +2.09%
Boxmakers +1.77%
Utilities +.79%

Lagging Sectors
Iron/Steel -.97%
Foods -1.07%
Airlines -1.64%

Crude Oil 43.08 +.23%
Natural Gas 6.95 +.46%
Gold 454.00 -.42%
Base Metals 117.25 +.04%
U.S. Dollar 81.28 +.37%
10-Yr. T-note Yield 4.22% -.69%
VIX 13.19 +1.77%
Put/Call .76 +10.14%
NYSE Arms .99 -27.74%

After-hours Movers
SNRR +9.6% after reporting strong 3Q results.
CRDN +5.4% after saying it will take the place of INVN in the S&P 600 Index.
IDBE +4.2% after CEO Holler told CNBC the company may be able to capture a fifth of the market for flu vaccines in the U.S. by the end of the decade.
DBRN -8.9% after the company said it plans to issue $100 million in notes convertible to stock.
VSTA -6.7% after meeting 3Q estimates and lowering 05 guidance.

Goldman Sachs reiterated Outperform on MO and UTX. Goldman reiterated Underperform on SAY and NAV. Goldman rated AAPL In-Line seeing FY06 eps of $1.85, above consensus.

After-hours News
U.S. stocks finished quietly mixed today as strength in the technology sector was offset by weakness in consumer-oriented groups. Martha Stewart Living Omnimedia is in final in final discussions with NBC Universal to distribute a new tv show starring the company's imprisoned founder, the Hollywood Reporter said. The prevalence of obesity among 2-to-5 year-olds from low-income families rose between 1989 and 2000, increasing the risk that chronic health problems will afflict them as adolescents and adults, according to a study published in the Archives of Pediatrics & Adolescent Medicine. The dollar rose after Japanese Vice Finance Minister Hosokawa signaled Japan may sell its currency to slow the yen's appreciation, Bloomberg said. Republicans in the U.S. House of Representatives reached agreement on legislation reorganizing U.S. intelligence agencies, clearing the way for a final vote on the bill as early as tomorrow morning, Bloomberg reported. A New York jury agreed with World Trade Center leaseholder Larry Silverstein that the attack on the twin towers by a pair of hijacked plans was two insurable events, requiring nine companies to pay as much as double their policy limits, Bloomberg reported.

BOTTOM LINE: The Portfolio finished unchanged today as gains in my internet and Russian ADR longs offset losses in my retail, restaurant and security longs. I did not trade in the afternoon, thus leaving the Portfolio 125% net long. Today's action appeared to be a further consolidation of recent gains as volume declined and sector performance was mixed. I continue to expect technology stocks to lead the major US indices higher this week.

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