S&P 500 1,179.15 -.48%
DJIA 10,227.63 -.25%
NASDAQ 2,042.21 -.92%
Russell 2000 622.62 -1.18%
DJ Wilshire 5000 11,742.10 -.64%
S&P Barra Growth 566.84 -.36%
S&P Barra Value 608.15 -.62%
Morgan Stanley Consumer 574.46 -.12%
Morgan Stanley Cyclical 684.91 -.70%
Morgan Stanley Technology 486.80 -.17%
Transports 3,622.93 -1.76%
Utilities 401.90 -1.56%
Put/Call 1.20 +8.11%
NYSE Arms .69 -36.37%
Volatility(VIX) 15.83 +1.28%
ISE Sentiment 164.00 +24.24%
US Dollar 89.63 -.38%
CRB 332.01 +.47%
Futures Spot Prices
Crude Oil 64.50 +1.68%
Unleaded Gasoline 183.80 +.26%
Natural Gas 13.61 +.67%
Heating Oil 202.00 -.14%
Gold 475.00 -1.0%
Base Metals 134.17 -.30%
Copper 179.30 -2.29%
10-year US Treasury Yield 4.44% +1.09%
Leading Sectors %
Drugs +.58%
Defense +.01%
Telecom -.16%
Lagging Sectors
I-Banks -2.35%
Steel -2.52%
Oil Tankers -2.65%
BOTTOM LINE: The Portfolio is unchanged mid-day as gains in my ETF shorts, Steel shorts and Energy shorts are offsetting losses in my Technology longs, Retail longs and Medical longs. I added to my IWM and QQQQ shorts this morning, thus leaving the Portfolio market neutral. The tone of the market is negative as the advance/decline line is substantially lower, almost every sector is lower and volume is heavy. Measures of investor anxiety are mixed. Today’s overall market action is negative given recent market losses. While the major averages are getting very oversold short-term and could bounce at any time, I am still not seeing much evidence that a rally will occur today. This is the first time in awhile that oil has moved up close to a $1/bbl. and energy-related stocks are falling across the board. I expect US stocks to trade mixed-to-lower from current levels into the close on increasing earnings worries.
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