Thursday, February 09, 2006

Stocks Mixed into Final Hour as More Weakness in Commodity Stocks Offsets Positives

BOTTOM LINE: The Portfolio is higher into the final hour on gains in my Medical longs, Semi longs and Energy-related shorts. I added back (IWM) and (QQQQ) shorts, thus leaving the Portfolio 75% net long. The tone of the market is slightly positive as the advance/decline line is modestly higher, most sectors are higher and volume is heavy. I expect US stocks to trade mixed-to-lower into the close from current levels as losses in commodity stocks and other momentum favorites more than offset lower energy prices and long-term rates.

No comments: