Thursday, February 23, 2006

Stocks Close Near Session Lows on Profit-taking

Indices
S&P 500 1,287.79 -.38%
DJIA 11,069.22 -.61%
NASDAQ 2,279.32 -.17%
Russell 2000 732.45 -.15%
Wilshire 5000 12,965.80 -.31%
S&P Barra Growth 609.10 -.33%
S&P Barra Value 675.15 -.42%
Morgan Stanley Consumer 605.57 +.03%
Morgan Stanley Cyclical 798.52 -.70%
Morgan Stanley Technology 530.58 -.61%
Transports 4,430.79 -.41%
Utilities 410.39 -.50%
Put/Call .83 +18.57%
NYSE Arms 1.27 +17.55%
Volatility(VIX) 11.87 -.08%
ISE Sentiment 182.00 +30.94%
US Dollar 90.39 -.31%
CRB 324.11 -.59%

Futures Spot Prices
Crude Oil 60.76 +.36%
Unleaded Gasoline 152.00 +.44%
Natural Gas 7.29 -2.21%
Heating Oil 166.50 +.14%
Gold 551.30 +.07%
Base Metals 164.80 -1.59%
Copper 219.60 -.41%
10-year US Treasury Yield 4.55% +.74%

Leading Sectors
Steel +1.81%
Hospitals +.78%
Internet +.39%

Lagging Sectors
Computer Hardware -1.07%
Semis -1.19%
Gold & Silver -3.32%

Evening Review
Detailed Market Summary
Market Gauges
Daily ETF Performance
Style Performance
Market Wrap CNBC Video(bottom right)
S&P 500 Gallery View
Economic Calendar
Timely Economic Charts
GuruFocus.com
PM Market Call
After-hours Movers
Real-time/After-hours Stock Quote
In Play

Afternoon Recommendations
Goldman Sachs:
- Reiterated Underperform on (CYT).

Afternoon/Evening Headlines
Bloomberg:
- Apple Computer(AAPL) just sold its 1 billionth song.
- Nordstrom(JWN) said fourth-quarter profit rose 36%, exceeding analysts’ estimates, as demand for full-prices cosmetics and accessories drove holiday sales.
BOTTOM LINE: The Portfolio finished higher today on gains in my Internet longs, Software longs, Networking longs and Retail longs. I added (IWM) and (QQQQ) shorts in the final hour, thus leaving the Portfolio 75% net long. The tone of the market was slightly negative today as the advance/decline line finished modestly lower, most sectors fell and volume was below average. Measures of investor anxiety were mixed into the close. Overall, today's market action was slightly bearish. However, today's losses were relatively mild considering recent gains.

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