Tuesday, October 16, 2012

Stocks Rising into Final Hour on Less Eurozone Debt Angst, Short-Covering, Less Economic Pessimism, Tech/Commodity Sector Strength

Broad Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 15.17 -.65%
  • ISE Sentiment Index 154.0 +79.07%
  • Total Put/Call .82 +9.33%
  • NYSE Arms .86 +9.44%
Credit Investor Angst:
  • North American Investment Grade CDS Index 93.19 bps -2.59%
  • European Financial Sector CDS Index 170.03 bps -3.57%
  • Western Europe Sovereign Debt CDS Index 121.62 bps -8.2%
  • Emerging Market CDS Index 212.99 bps -1.28%
  • 2-Year Swap Spread 9.25 -1.5 basis points
  • TED Spread 23.25 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -24.50 +.5 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .09% -1 basis point
  • Yield Curve 145.0 +4 basis points
  • China Import Iron Ore Spot $112.60/Metric Tonne -.35%
  • Citi US Economic Surprise Index 52.40 -3.1 points
  • 10-Year TIPS Spread 2.46 -1 basis point
Overseas Futures:
  • Nikkei Futures: Indicating +89 open in Japan
  • DAX Futures: Indicating +4 open in Germany
Portfolio:
  • Higher: On gains in my Retail, Medical, Biotech and Tech sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and then added them back
  • Market Exposure: 50% Net Long

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