Stocks Slightly HIgher into Final Hour on Global Central Bank Stimulus Hopes, Short-Covering, Homebuilder/Heatlhcare Sector Strength

Broad Market Tone:

• Advance/Decline Line: Lower
  
• Sector Performance: Most Sectors Declining
  
• Volume: Below Average
  
• Market Leading Stocks: Outperforming
  

Equity Investor Angst:

• VIX 15.10 +.53%
  
• ISE Sentiment Index 115.0 +16.16%
  
• Total Put/Call .93 +4.49%
  
• NYSE Arms .66 -27.84%
  

Credit Investor Angst:

• North American Investment Grade CDS Index 99.20 bps +.58%
  
• European Financial Sector CDS Index 236.04 bps +3.96%
  
• Western Europe Sovereign Debt CDS Index 229.08 +1.27%
  
• Emerging Market CDS Index 244.63 -.03%
  
• 2-Year Swap Spread 19.75 -1.25 basis points
  
• TED Spread 33.0 -.25 basis point
  
• 3-Month EUR/USD Cross-Currency Basis Swap -33.25 +.5 basis point
  

Economic Gauges:

• 3-Month T-Bill Yield .10% unch.
  
• Yield Curve 144.0 -7 basis points
  
• China Import Iron Ore Spot $104.70/Metric Tonne -1.60%
  
• Citi US Economic Surprise Index -14.60 +.7 point
  
• 10-Year TIPS Spread 2.27 +1 basis point
  

Overseas Futures:

• Nikkei Futures: Indicating -73 open in Japan
• DAX Futures: Indicating +29 open in Germany
  

Portfolio:

• Slightly Higher: On gains in my Retail/Biotech/Tech sector longs and emerging markets shorts
  
• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
  
• Market Exposure: Moved to 50% Net Long