Stocks Rising into Final Hour on Global Central Bank Stimulus Hopes, Less Eurozone Debt Angst, Short-Covering, Technical Buying

Broad Market Tone:

• Advance/Decline Line: Higher
  
• Sector Performance: Most Sectors Rising
  
• Volume: Light
  
• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• VIX 16.77 -.18%
  
• ISE Sentiment Index 126.0 unch.
  
• Total Put/Call .88 -15.38%
  
• NYSE Arms 1.15 -11.43%
  

Credit Investor Angst:

• North American Investment Grade CDS Index 106.46 -2.51%
  
• European Financial Sector CDS Index 245.50 -3.22%
  
• Western Europe Sovereign Debt CDS Index 267.17 -2.75%
  
• Emerging Market CDS Index 276.46 +2.15%
  
• 2-Year Swap Spread 23.75 -1.25 basis points
  
• TED Spread 38.0 -1.0 basis point
  
• 3-Month EUR/USD Cross-Currency Basis Swap -61.75 -5.0 basis points
  

Economic Gauges:

• 3-Month T-Bill Yield .08% +1 basis point
  
• Yield Curve 132.0 +4 basis points
  
• China Import Iron Ore Spot $135.40/Metric Tonne +1.42%
  
• Citi US Economic Surprise Index -63.20 +.7 point
  
• 10-Year TIPS Spread 2.10 +2 basis points
  

Overseas Futures:

• Nikkei Futures: Indicating +64 open in Japan
• DAX Futures: Indicating -6 open in Germany
  

Portfolio:

• Higher: On gains in my tech and biotech sector longs
  
• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short, then added them back
  
• Market Exposure: 50% Net Long