Stocks Falling into Final Hour on Rising Eurozone Debt Angst, Rising Global Growth Fears, Less Financial/Tech Sector Optimism, Technical Selling

Broad Market Tone:

• Advance/Decline Line: Sharply Lower
  
• Sector Performance: Almost Every Sector Declining
  
• Volume: Slightly Below Average
  
• Market Leading Stocks: Underperforming
  

Equity Investor Angst:

• VIX 23.33 +4.76%
  
• ISE Sentiment Index 92.0 +15.0%
  
• Total Put/Call 1.42 +14.52%
  
• NYSE Arms .91 -20.65%
  

Credit Investor Angst:

• North American Investment Grade CDS Index 121.14 +1.86%
  
• European Financial Sector CDS Index 305.03 +4.79%
  
• Western Europe Sovereign Debt CDS Index 308.14 +1.87%
  
• Emerging Market CDS Index 313.28 +.97%
  
• 2-Year Swap Spread 35.75 -.75 basis point
  
• TED Spread 37.5 unch.
  
• 3-Month EUR/USD Cross-Currency Basis Swap -49.25 +2.0 basis points
  

Economic Gauges:

• 3-Month T-Bill Yield .09% unch.
  
• Yield Curve 140.0 -7 basis points
  
• China Import Iron Ore Spot $133.60/Metric Tonne -1.11%
  
• Citi US Economic Surprise Index -25.10 -5.7 points
  
• 10-Year TIPS Spread 2.11 unch.
  

Overseas Futures:

• Nikkei Futures: Indicating a -171 open in Japan
• DAX Futures: Indicating -22 open in Germany
  

Portfolio:

• Slightly Lower: On losses in my Biotech, Medical, Retail and Tech sector longs
  
• Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  
• Market Exposure: Moved to 25% Net Long