Stocks Rising into Final Hour on Euro Bounce, Tech Sector Optimism, Short-Covering

Broad Market Tone:

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

Equity Investor Angst:

• VIX 16.15 -3.98%
  
• ISE Sentiment Index 105.0 -6.25%
  
• Total Put/Call .80 +9.59%
  
• NYSE Arms 1.03 +16.39%
  

Credit Investor Angst:

• North American Investment Grade CDS Index 96.19 -1.44%
  
• European Financial Sector CDS Index 247.0 +.16%
  
• Western Europe Sovereign Debt CDS Index 274.0 -.25%
  
• Emerging Market CDS Index 255.63 -1.29%
  
• 2-Year Swap Spread 29.75 +.75 basis point
  
• TED Spread 38.0 unch.
  
• 3-Month EUR/USD Cross-Currency Basis Swap -44.50 unch.
  

Economic Gauges:

• 3-Month T-Bill Yield .09% unch.
  
• Yield Curve 169.0 -2 basis points
  
• China Import Iron Ore Spot $143.80/Metric Tonne -1.98%
  
• Citi US Economic Surprise Index -2.0 -1.9 points
  
• 10-Year TIPS Spread 2.29 +2 basis points
  

Overseas Futures:

• Nikkei Futures: Indicating a +63 open in Japan
• DAX Futures: Indicating +46 open in Germany
  

Portfolio:

• Higher: On gains in my Tech, Medical, Biotech and Retail 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