Stocks Rising into Final Hour on Euro Bounce, US Data, Tech/Financial Sector Optimism, Short-Covering

Broad Market Tone:

• Advance/Decline Line: Higher
  
• Sector Performance: Most Sectors Rising
  
• Volume: Below Average
  
• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• VIX 15.11 -1.31%
  
• ISE Sentiment Index 150.0 +80.72%
  
• Total Put/Call .69 -15.85%
  
• NYSE Arms .42 -28.92%
  

Credit Investor Angst:

• North American Investment Grade CDS Index 89.47 -2.36%
  
• European Financial Sector CDS Index 152.83 -.58%
  
• Western Europe Sovereign Debt CDS Index 229.0 +2.31%
  
• Emerging Market CDS Index 225.84 -.22%
  
• 2-Year Swap Spread 26.25 unch.
  
• TED Spread 39.75 +.5 bp
  
• 3-Month EUR/USD Cross-Currency Basis Swap -58.0 +2.0 bps
  

Economic Gauges:

• 3-Month T-Bill Yield .08% unch.
  
• Yield Curve 192.0 +3 bps
  
• China Import Iron Ore Spot $145.0/Metric Tonne +.49%
  
• Citi US Economic Surprise Index 41.0 +1.1 points
  
• 10-Year TIPS Spread 2.39 +1 basis point
  

Overseas Futures:

• Nikkei Futures: Indicating a -60 open in Japan
• DAX Futures: Indicating a +3 open in Germany

Portfolio:

• Higher: On gains in my Biotech, Tech, Retail and Medical sector longs
  
• Disclosed Trades: Covered all of my (IWM)/(QQQ) hedges and some of my (EEM) short, then added them back
  
• Market Exposure: 75% Net Long