Stocks Higher into Afternoon on Global Central Bank Stimulus Hopes, Short-Covering, Bargain-Hunting, Less Eurozone Debt Angst

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 21.69 -2.12%
  
• ISE Sentiment Index 66.0 -42.11%
  
• Total Put/Call 1.02 -13.56%
  
• NYSE Arms .96 +54.26%
  

Credit Investor Angst:

• North American Investment Grade CDS Index 120.0 -1.40%
  
• European Financial Sector CDS Index 280.35 -3.41%
  
• Western Europe Sovereign Debt CDS Index 317.39 -2.62%
  
• Emerging Market CDS Index 299.78 -2.20%
  
• 2-Year Swap Spread 31.0 -2.5 basis points
  
• TED Spread 38.75 unch.
  
• 3-Month EUR/USD Cross-Currency Basis Swap -51.50 -1.25 basis points
  

Economic Gauges:

• 3-Month T-Bill Yield .08% unch.
  
• Yield Curve 138.0 -1 basis point
  
• China Import Iron Ore Spot $130.60/Metric Tonne -.31%
  
• Citi US Economic Surprise Index -48.90 +.3 point
  
• 10-Year TIPS Spread 2.15 -2 basis points
  

Overseas Futures:

• Nikkei Futures: Indicating a +23 open in Japan
• DAX Futures: Indicating +9 open in Germany
  

Portfolio:

• Higher: On gains in my Medical and Tech sector longs
  
• Disclosed Trades: Added to my (IWM)/(QQQ) hedges and to my (EEM) short
  
• Market Exposure: Moved to 50% Net Long