S&P 500 1,264.32 +1.19%
DJIA 10,919.93 +1.05%
NASDAQ 2,265.27 +1.45%
Russell 2000 689.39 +1.79%
DJ Wilshire 5000 12,653.27 +1.25%
S&P Barra Growth 605.05 +1.12%
S&P Barra Value 654.95 +1.26%
Morgan Stanley Consumer 593.50 +.93%
Morgan Stanley Cyclical 784.03 +1.27%
Morgan Stanley Technology 537.76 +1.67%
Transports 4,157.71 +1.07%
Utilities 403.33 +.80%
Put/Call .86 +2.38%
NYSE Arms .68 -58.60%
Volatility(VIX) 11.19 -7.21%
ISE Sentiment 139.00 -15.76%
US Dollar 91.89 +.35%
CRB 318.59 +1.37%
Futures Spot Prices
Crude Oil 57.75 +.75%
Unleaded Gasoline 153.80 +2.73%
Natural Gas 12.70 +.90%
Heating Oil 171.25 +1.50%
Gold 506.80 +1.62%
Base Metals 148.99 +2.45%
Copper 199.95 +3.82%
10-year US Treasury Yield 4.52% +.83%
Leading Sectors
Semis +3.86%
Steel +3.81%
Gold & Silver +3.15%
Lagging Sectors
Utilities +.66%
Defense +.57%
Broadcasting +.29%
BOTTOM LINE: The Portfolio is higher mid-day on gains in my Internet longs, Semi longs, Airlines and Medical longs. I covered my IWM and QQQQ shorts this morning and added ANF long into weakness, thus leaving the Portfolio 100% net long. The tone of the market is very positive as the advance/decline line is substantially higher, every sector is higher and volume is heavy. Measures of investor anxiety are mixed. Overall, today’s market action is very positive considering the bounce in oil and long-term rates. SanDisk (SNDK), a recent short addition, is down 88 cents to around session lows. This decline is occurring even with an almost 4% rise in the SOX and rumors of its addition to the S&P 500. I expect US stocks to trade mixed-to-higher from current levels into the close as strong economic data, short-covering and more optimism once again offsets the bounce in rates and oil.
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