Tuesday, July 03, 2012

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

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