Stocks Surging into Final Hour on Global Central Bank Action/Stimulus Hopes, Euro Bounce, Short-Covering, Investor Performance Angst

Broad Market Tone:

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

Equity Investor Angst:

• VIX 14.25 -9.81%
  
• ISE Sentiment Index 162.0 +22.73%
  
• Total Put/Call .78 +13.04%
  
• NYSE Arms .40 -58.64%
  

Credit Investor Angst:

• North American Investment Grade CDS Index 86.06 bps -5.33%
  
• European Financial Sector CDS Index 203.66 bps +2.66%
  
• Western Europe Sovereign Debt CDS Index 182.31 -.64%
  
• Emerging Market CDS Index 203.69 -2.22%
  
• 2-Year Swap Spread 13.5 -2.0 basis points
  
• TED Spread 29.25 -.5 basis point
  
• 3-Month EUR/USD Cross-Currency Basis Swap -17.0 +4.75 basis points
  

Economic Gauges:

• 3-Month T-Bill Yield .10% unch.
  
• Yield Curve 150.0 -1 basis point
  
• China Import Iron Ore Spot $96.10/Metric Tonne -2.04%
  
• Citi US Economic Surprise Index 25.10 -1.2 points
  
• 10-Year TIPS Spread 2.48 +9 basis points
  

Overseas Futures:

• Nikkei Futures: Indicating +28 open in Japan
• DAX Futures: Indicating +69 open in Germany
  

Portfolio:

• Higher: On gains in my Tech/Retail/Medical/Biotech sector longs
  
• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
  
• Market Exposure: 50% Net Long