Tuesday, November 27, 2012

Stocks Falling into Final Hour on Rising Fiscal Cliff Fears, More Global Growth Worries, Eurozone Debt Angst, Tech/Financial Sector Weakness

 Broad Market Tone:
  • Advance/Decline Line: Modestly Lower
  • Sector Performance: Most Sectors Declining
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • VIX 15.77 +1.74%
  • ISE Sentiment Index 94.0 -35.6%
  • Total Put/Call .81 +21.57%
  • NYSE Arms 1.59 +37.81%
Credit Investor Angst:
  • North American Investment Grade CDS Index 102.08 +1.32%
  • European Financial Sector CDS Index 162.48 -2.28%
  • Western Europe Sovereign Debt CDS Index 109.0 bps -3.94%
  • Emerging Market CDS Index 255.69 bps -.62%
  • 2-Year Swap Spread 12.5 -1.0 basis point
  • TED Spread 23.0 +1.0 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -28.25 -.25 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .08% -1 basis point
  • Yield Curve 138.0 -2 basis points
  • China Import Iron Ore Spot $117.90/Metric Tonne -.25%
  • Citi US Economic Surprise Index 49.0 +1.5 points
  • 10-Year TIPS Spread 2.39 unch.
Overseas Futures:
  • Nikkei Futures: Indicating -70 open in Japan
  • DAX Futures: Indicating +2 open in Germany
Portfolio:
  • Slightly Lower: On losses in my Tech/Medical sector longs
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges, added to my (EEM) short
  • Market Exposure: Moved to 25% Net Long

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