Thursday, December 30, 2004

Thursday Close

S&P 500 1,213.55 +.01%
NASDAQ 2,178.34 +.06%

Leading Sectors
Airlines +1.07%
Hospitals +.74%
Networking +.64%

Lagging Sectors
Restaurants -.45%
Oil Service -.65%
Iron/Steel -2.50%

Crude Oil 43.45 -.23%
Natural Gas 6.15 unch.
Gold 438.40 +.32%
Base Metals 124.97 +.63%
U.S. Dollar 80.62 -.28%
10-Yr. T-note Yield 4.25% -1.59%.
VIX 12.56 +8.09%
Put/Call .86 -24.56%
NYSE Arms 1.20 +33.33%

After-hours Movers


After-hours News

BOTTOM LINE: The Portfolio finished substantially higher today on gains in my security, internet, Chinese ADR and software longs. I did not trade in the afternoon, thus leaving the Portfolio 125% net long. The overall tone of the market was mildly positive today. Volume fell slightly as stocks continue to consolidate recent gains. The declines in base metal stocks likely mark the beginning of a period of underperformance for this sector through the first half of 05. However, one more test of recent highs may occur in January. I continue to believe all commodity-related stocks will underperform through this period as demand decelerates, supply increases and the US dollar stabilizes.

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