Wednesday, September 13, 2006

Stocks Modstly Higher into Final Hour, Led by I-Banking Shares

BOTTOM LINE: The Portfolio is higher into the final hour on gains in my Medical longs, Internet longs and Computer longs. I added to my (ISRG) long and took profits in a trading long today, thus leaving the Portfolio 100% net long. The tone of the market is positive as the advance/decline line is higher, most sectors are rising and volume is above average. Google (GOOG) is trading up 10, back above $400. Google is one of the greatest growth stocks in the world trading at a very reasonable valuation, in my opinion. I suspect it is in the early stages of another stunning move higher. I remain long the stock. I expect US stocks to trade mixed-to-higher into the close from current levels on short-covering.

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