S&P 500 1,422.48 -.32%
DJIA 12,441.27 -.03%
NASDAQ 2,435.57 -.88%
Russell 2000 782.02 -1.35%
Wilshire 5000 14,246.92 -.47%
S&P Barra Growth 656.05 -.53%
S&P Barra Value 764.74 -.13%
Morgan Stanley Consumer 692.57 +.10%
Morgan Stanley Cyclical 889.18 -.53%
Morgan Stanley Technology 573.23 -.56%
Transports 4,659.19 -.89%
Utilities 456.76 -.76%
Put/Call 1.12%
NYSE Arms .91 -3.23%
Volatility(VIX) 10.58 +5.27%
ISE Sentiment 184.0 +35.29%
US Dollar 83.97 -.08%
CRB 310.39 -.94%
Futures Spot Prices
Crude Oil 62.11 -2.08%
Reformulated Gasoline 167.30 -1.81%
Natural Gas 7.01 -5.28%
Heating Oil 172.15 -3.38%
Gold 618.50 -.10%
Base Metals 240.77 -1.45%
Copper 302.75 +.72%
10-year US Treasury Yield 4.59% -.13%
Leading Sectors
Gaming +.94%
Banks +.30%
Semis +.16%
Lagging Sectors
Steel -2.53%
Energy -2.81%
Oil Service -3.92%
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
Bank of America:
- Rated (MNST) Buy, target $57.
Afternoon/Evening Headlines
Bloomberg:
- Delphi Corp. will receive $3.4 billion from five investment firms to help it emerge from bankruptcy.
- Oracle Corp.(ORCL) said fiscal second-quarter profit rose 21% on higher sales of programs to manage business tasks such as payroll and inventory.
- Serious crime in New York fell 7.2% in the first six months of this year.
- Crude oil fell more than $1/bbl. as warmer-than-normal weather curbed heating-fuel consumption and investment funds’ near record speculation in the commodity subsided further.
- New US Defense Secretary Robert Gates said America “cannot afford to fail” in the Middle East and he will visit Iraq “quite soon” to consult with military leaders there.
- Marijuana is the largest US cash crop, eclipsing corn and wheat combined, a study in the Bulletin of Cannabis Reform said.
BOTTOM LINE: The Portfolio finished lower today on losses in my Internet longs, Retail longs, Computer longs and Biotech longs. I added to my EEM, IWM and QQQQ hedges in the final hour, thus leaving the Portfolio 50% net long. The tone of the market was negative today as the advance/decline line finished substantially lower, most sectors declined and volume was slightly above average. Measures of investor anxiety were mostly higher into the close. Today's overall market action was bearish. Small caps and commodities underperformed throughout the day. Oil Service stocks were particularly weak as this over-owned group fell almost 4% for the day. Today's action appeared to be mainly a result of year-end profit-taking in the best performers this year. I added to my hedges into the close based on the likelihood that overseas markets will come under pressure tonight due to the weakness in commodities.
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