Tuesday, October 09, 2012

Stocks Falling into Final Hour on Rising Global Growth Fears, Rising Eurozone Debt Angst, Increasing Mid-East Unrest, Tech/Homebuilding Sector Weakness

Broad Market Tone:
  • Advance/Decline Line: Substantially Lower
  • Sector Performance: Almost Every Sector Declining
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 16.16 +6.95%
  • ISE Sentiment Index 76.0 -32.14%
  • Total Put/Call 1.05 +25.0%
  • NYSE Arms .81 -23.08%
Credit Investor Angst:
  • North American Investment Grade CDS Index 97.73 bps +2.62%
  • European Financial Sector CDS Index 185.50 bps +1.64%
  • Western Europe Sovereign Debt CDS Index 140.79 bps +1.08%
  • Emerging Market CDS Index 224.71 bps +4.77%
  • 2-Year Swap Spread 12.0 -2.25 basis points
  • TED Spread 25.5 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -24.25 -.5 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .10% unch.
  • Yield Curve 145.0 -3 basis points
  • China Import Iron Ore Spot $117.20/Metric Tonne +6.16%
  • Citi US Economic Surprise Index 42.60 -.8 point
  • 10-Year TIPS Spread 2.55 -2 basis points
Overseas Futures:
  • Nikkei Futures: Indicating -91 open in Japan
  • DAX Futures: Indicating -7 open in Germany
Portfolio:
  • Slightly Higher: On gains in my index hedges and emerging markets shorts
  • Disclosed Trades: None
  • Market Exposure: 25% Net Long

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