Monday, November 28, 2005

Stocks Finish Near Session Lows on Profit-taking

Indices
S&P 500 1,257.46 -.85%
DJIA 10,890.72 -.37%
NASDAQ 2,239.37 -1.04%
Russell 2000 671.50 -1.77%
DJ Wilshire 5000 12,548.01 -1.0%
S&P Barra Growth 601.59 -.80%
S&P Barra Value 651.52 -.90%
Morgan Stanley Consumer 592.31 -.56%
Morgan Stanley Cyclical 771.74 -.60%
Morgan Stanley Technology 531.88 -.78%
Transports 4,121.80 -1.37%
Utilities 401.97 -.50%
Put/Call 1.01 +13.48%
NYSE Arms 1.34 +50.57%
Volatility(VIX) 11.84 +8.82%
ISE Sentiment 153.00 -52.34%
US Dollar 91.17 -.95%
CRB 312.72 -.62%

Futures Spot Prices
Crude Oil 57.30 -.10%
Unleaded Gasoline 141.85 +.02%
Natural Gas 11.71 +.65%
Heating Oil 163.65 +.06%
Gold 503.30 +.14%
Base Metals 144.20 +.03%
Copper 190.75 -.18%
10-year US Treasury Yield 4.40% -.57%

Leading Sectors
Disk Drives +1.36%
Telecom +.47%
Restaurants +.09%

Lagging Sectors
Coal -3.03%
Energy -3.44%
Oil Service -3.90%

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 GM.

Afternoon/Evening Headlines
Bloomberg:
- Analysts have improved over the past six quarters as the US stocks most favored by Wall Street have outperformed those that are least favored, according to Citigroup Investment Research’s Tobias Levkovich.
- The US dollar fell the most in more than seven weeks against the euro and dropped versus the yen after an industry report showed US home sales in October declined more than analysts forecast.
- Crude oil fell and heating oil plunged to a four-month low as warm weather in the eastern US and rising inventories spurred selling in the commodities.

Barron’s:
- Palatin Technologies’ treatment for sexual dysfunction in both men and women will soon enter Phase III trials.

Australian:
- BlueScope Steel, Australia’s biggest steelmaker, may cut its domestic prices to stay competitive with cheaper Asian product.
BOTTOM LINE: The Portfolio finished lower today on losses in my Internet longs, Retail longs, Medical longs and Semi longs. I did not trade in the afternoon, thus leaving the Portfolio 50% net long. The tone of the market was negative today as the advance/decline line finished substantially lower, almost every sector fell and volume was below average. Measures of investor anxiety were higher into the close. Overall, today's market action was slightly negative. I view today’s pullback as orderly and healthy, given recent gains. Most losses were confined to the energy sector and stocks that were short-term overextended.

No comments: