Thursday, May 17, 2012

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

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