Monday, February 06, 2006

Stocks Close Mixed on Average Volume

Indices
S&P 500 1,265.02 +.08%
DJIA 10,798.27 +.04%
NASDAQ 2,258.80 -.17%
Russell 2000 727.89 +.51%
S&P Barra Growth 601.45 -.13%
S&P Barra Value 659.69 +.29%
Morgan Stanley Consumer 588.50 -.13%
Morgan Stanley Cyclical 783.44 +.46%
Morgan Stanley Technology 526.77 +.06%
Transports 4,290.49 +.63%
Utilities 407.58 +.55%
Put/Call .84 -20.75%
NYSE Arms .96 -20.30%
Volatility(VIX) 13.04 +.62%
ISE Sentiment 163.00 +2.52%
US Dollar 90.31 +.47%
CRB 343.25 -.77%

Futures Spot Prices
Crude Oil 64.94 -.31%
Unleaded Gasoline 163.90 -.32%
Natural Gas 7.88 -1.50%
Heating Oil 176.08 -.11%
Gold 573.80 -.09%
Base Metals 176.72 +.51%
Copper 232.85 -.06%
10-year US Treasury Yield 4.54% +.44%

Leading Sectors
Steel +3.21%
Oil Service +2.85%
Gold & Silver +2.74%

Lagging Sectors
Airlines -1.13%
HMOs -1.46%
Broadcasting -1.68%

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 Outperform on (GNW).
- Reiterated Underperform on (HEW).

Afternoon/Evening Headlines
Bloomberg:
- Occidental Petroleum(OXY) is getting better results than predicted from its return to Libya, where is the first US company to pump oil in almost two decades.
- Royal Caribbean Cruises(RCL) commissioned the world’s largest cruise ship, agreeing to pay a record $1.1 billion for a vessel that will carry 5,400 passengers.
- General Motors(GM) will appoint an aide to Kirk Kerkorian, the automaker’s fourth-largest investor, to its board of directors as the company tries to recover from recent losses.

CNBC:
- Electricity producer Dynegy Inc.(DYN) is in talks with potential buyers after three years of paring assets, consulting editor for Mergermarket said.

Frankfurter Allgemeine Zeitung:
- Arcelor SA is considering a takeover of US Steel Corp.(X) to counter a $22.3 billion hostile bid by larger Mittal Steel, citing unidentified bankers.

AP:
- Iran told the UN’s nuclear watchdog its has until mid-February to remove surveillance cameras and nuclear equipment seals meant to ensure that the country complies with treaty commitments.
BOTTOM LINE: The Portfolio finished slightly lower today on losses in my Medical longs, Computer longs and Biotech longs. I took profits is some of my (IWM) and (QQQQ) shorts in the final hour, thus leaving the Portfolio 75% net long. The tone of the market was mixed today as the advance/decline line finished slightly higher, sector performance was mixed and volume was average. Measures of investor anxiety were lower into the close. Overall, today's market action was mixed. The bears' inability to capitalize on losses in some market leaders, semiconductor gains and energy price reversals were positives.

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