NASDAQ 2,096.81 -.48%
Crude Oil 48.98 -.31%
Natural Gas 7.60 -.26%
Gold 453.20 unch.
Base Metals 120.75 -.02%
U.S. Dollar 81.82 -.13%
10-Yr. T-note Yield 4.35% +.73%
VIX 13.24 -.45%
Put/Call .87 +16.0%
NYSE Arms .99 -3.88%
CPRT +5.05% after better-than-expected 1Q estimates.
CHS +6.03% after beating 3Q estimates.
OVTI +10.9% after beating 3Q estimates and raising 4Q outlook.
SYNA -4.7% after saying it intends to offer $100 million of Convertible Senior Subordinated Notes.
ADEX -4.6% after meeting 2Q estimates and lowering 3Q guidance.
Goldman Sachs reiterated Outperform on SBC.
U.S. stocks finished modestly lower today as fears over consumer spending more than offset other strong economic reports. After the close, NTT DoCoMo, Japan's largest mobile-phone operator, plans to start selling mobile phones from Nokia Oyj and Motorola next year, to reduce its reliance on local manufacturers, the Financial Times reported. Indiana Pacers players will face criminal charges for fighting with fans during a Nov. 19 game against the Detroit Pistons, the Detroit News reported. Ken Jennings, who won more money on a game show than anyone in history, lost on "Jeopardy" in the episode that airs today, ending a streak that lasted 74 days and earned him $2,520,700, King World said. Radioactive iodine released from a plutonium-producing plant run by General Electric and DuPont in Washington state in the 1940s and 1950s didn't lead to health problems decades later, a newly published study found. Cigna Corp. said 2004 earnings excluding some items probably would be $950 million to $975 million, higher than a forecast earlier this month as medical management improves, Bloomberg reported. Analog Devices said the U.S. SEC is conduction an inquiry into the company's granting of stock options to directors and officers in the past five years, Bloomberg said. Man Group Plc, the world's largest publicly traded hedge fund manager, may have its credit rating lowered because of the company's high level of borrowing and its funds' slumping performance, Moody's Investors Service said. NY State Comptroller Hevesi sued Merck over pension fund losses related to Vioxx, Bloomberg reported. LG.Philips LCD, the world's second-largest market of liquid crystal displays, said it plans to spend $5.1 billion building the world's largest liquid crystal display plant, Bloomberg said.
BOTTOM LINE: The Portfolio finished unchanged today as strength in my security, internet and telecom equipment longs offset weakness in my medical equipment, retail and wireless longs. I did not trade in the afternoon, thus leaving the Portfolio 100% net long. I continue to view recent market action as healthy and necessary for another move higher before year-end. The major U.S. indices will likely continue their recent consolidation over the next couple of days and begin advancing on Friday's jobs report.