Stocks Jumping into Final Hour on Less Eurozone Debt Angst, Global Central Bank Stimulus Hopes, Short-Covering, Bargain-Hunting

Broad Market Tone:

• Advance/Decline Line: Substantially Higher
  
• Sector Performance: Every Sector Rising
  
• Volume: Below Average
  
• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• VIX 23.24 -5.83%
  
• ISE Sentiment Index 132.0 +7.32%
  
• Total Put/Call 1.10 +6.80%
  
• NYSE Arms .82 +22.84%
  

Credit Investor Angst:

• North American Investment Grade CDS Index 122.33 -2.73%
  
• European Financial Sector CDS Index 290.01 -4.17%
  
• Western Europe Sovereign Debt CDS Index 326.09 -.48%
  
• Emerging Market CDS Index 305.39 -5.28%
  
• 2-Year Swap Spread 33.50 -2.5 basis points
  
• TED Spread 38.75 -1.0 basis point
  
• 3-Month EUR/USD Cross-Currency Basis Swap -50.25 +5.25 basis points
  

Economic Gauges:

• 3-Month T-Bill Yield .08% +1 basis point
  
• Yield Curve 139.0 +9 basis points
  
• China Import Iron Ore Spot $131.0/Metric Tonne -2.1%
  
• Citi US Economic Surprise Index -49.20 +1.3 points
  
• 10-Year TIPS Spread 2.17 +5 basis points
  

Overseas Futures:

• Nikkei Futures: Indicating a +109 open in Japan
• DAX Futures: Indicating +9 open in Germany
  

Portfolio:

• Higher: On gains in my Retail, Biotech, Medical and Tech sector longs
  
• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
  
• Market Exposure: Moved to 75% Net Long