Monday, November 05, 2007

Stocks Finish Mildly Lower on Credit Worries

S&P 500 1,502.17 -.50%
DJIA 13,543.40 -.38%
NASDAQ 2,795.18 -.54%
Russell 2000 790.44 -.92%
Wilshire 5000 15,104.48 -.59%
Russell 1000 Growth 625.87 -.52%
Russell 1000 Value 814.86 -.63%
Morgan Stanley Consumer 737.49 +.02%
Morgan Stanley Cyclical 1,038.44 -.60%
Morgan Stanley Technology 669.20 -.63%
Transports 4,778.09 -.51%
Utilities 529.58 +.71%
MSCI Emerging Markets 157.51 -2.07%

Total Put/Call 1.02 -11.30%
NYSE Arms 1.0 -9.59%
Volatility(VIX) 24.31 +5.65%
ISE Sentiment 150.0 +10.29%

Futures Spot Prices
Crude Oil $94.68 -1.31%
Reformulated Gasoline 239.65 -1.76%
Natural Gas 7.96 -5.43%
Heating Oil 255.42 -.76%
Gold 808.90 +.05%
Base Metals 243.68 -.88%
Copper 330.30 -.66%

10-year US Treasury Yield 4.33% +2 basis points
US Dollar 76.44 +.13%
CRB Index 349.76 -1.08%

Leading Sectors
Utilities +.71%
Internet +.48%
HMOs +.12%

Lagging Sectors
Papers -2.0%
Retail -2.13%
I-Banks -2.73%

Evening Review
Market Performance Summary
WSJ Data Center
Sector Performance
ETF Performance
Style Performance
Commodity Movers
Market Wrap CNBC Video(bottom right)
S&P 500 Gallery View
Timely Economic Charts
PM Market Call
After-hours Commentary
After-hours Movers

After-hours Stock Quote
In Play

Afternoon Recommendations
Goldman Sachs:

- Added (AAP) to Americas Conviction Buy List.

- Reiterated Buy on (IACI), target $37.

Afternoon/Evening Headlines
- Robert Friedman, the former chief investment officer of Michael Pirce’s mutual-fund company, is shutting down his global stock hedge fund after two years, according to a letter sent to investors.
- Ford Motor(F) will pay $15.4 billion to create a union retiree health-care fund with the UAW under an agreement approved by UAW officials today.
- More than 1,200 of NYC’s public schools received report cards today in the city’s first attempt to compare and rate each school’s efforts to educate and improve performance of students and teachers.

BOTTOM LINE: The Portfolio finished about even today as losses in my Computer longs and Retail longs offset gains in my Internet longs, Medical longs and Commodity shorts. I did not trade in the final hour, thus leaving the Portfolio 100% net long. The tone of the market was negative today as the advance/decline line finished lower, most sectors fell and volume was above average. Measures of investor anxiety were above average into the close. Today's overall market action was mildly bearish. Today's trading was very jerky on both the up and downsides. I saw many stocks both significantly outperforming and underperforming the averages, but few around the averages. HMO, Internet, defense and utility shares were relatively strong throughout the day. Anything related to the housing downturn was once again a source of meaningful weakness. Most of my longs fared pretty well today, led by Google (GOOG), which closed at another record high. Under Armour (UA), however, remains under pressure. I may add to that long again on any further meaningful weakness.

No comments: