Stocks Higher into Final Hour on Global Central Bank Stimulus Hopes, Short-Covering, Bargain-Hunting

Broad Market Tone:

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

Equity Investor Angst:

• VIX 22.23 -8.12%
  
• ISE Sentiment Index 145.0 +66.67%
  
• Total Put/Call 1.08 -15.63%
  
• NYSE Arms .48 -59.75%
  

Credit Investor Angst:

• North American Investment Grade CDS Index 122.24 -2.10%
  
• European Financial Sector CDS Index 285.98 -1.06%
  
• Western Europe Sovereign Debt CDS Index 321.33 +.34%
  
• Emerging Market CDS Index 289.81 -4.49%
  
• 2-Year Swap Spread 30.0 -.25 basis point
  
• TED Spread 37.0 -1.25 basis points
  
• 3-Month EUR/USD Cross-Currency Basis Swap -54.0 +.25 basis point
  

Economic Gauges:

• 3-Month T-Bill Yield .10% +1 basis point
  
• Yield Curve 133.0 +3 basis points
  
• China Import Iron Ore Spot $134.70/Metric Tonne +.75%
  
• Citi US Economic Surprise Index -54.50 -.9 point
  
• 10-Year TIPS Spread 2.10 unch.
  

Overseas Futures:

• Nikkei Futures: Indicating a +9 open in Japan
• DAX Futures: Indicating +3 open in Germany
  

Portfolio:

• Slightly Higher: On gains in my medial, retail and biotech sector longs
  
• Disclosed Trades: Added to my (IWM)/(QQQ) hedges, then covered some of them
  
• Market Exposure: 50% Net Long