Tuesday, January 29, 2013

Stocks Higher into Final Hour on Diminishing Global Growth Fears, Short-Covering, Homebuilding/Commodity Sector Strength

Broad Market Tone:
  • Advance/Decline Line: Slightly Lower
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • VIX 13.26 -2.28%
  • ISE Sentiment Index 95.0 -24.0%
  • Total Put/Call .98 +1.03%
  • NYSE Arms .78 -32.65%
Credit Investor Angst:
  • North American Investment Grade CDS Index 86.15 +.44%
  • European Financial Sector CDS Index 140.22 +2.26%
  • Western Europe Sovereign Debt CDS Index 99.45 +.13%
  • Emerging Market CDS Index 218.39 +1.81%
  • 2-Year Swap Spread 16.0 -.5 bp
  • TED Spread 23.50 -.5 bp
  • 3-Month EUR/USD Cross-Currency Basis Swap -14.25 -.5 bp
Economic Gauges:
  • 3-Month T-Bill Yield .07% +1 bp
  • Yield Curve 171.0 +3 bps
  • China Import Iron Ore Spot $148.40/Metric Tonne unch.
  • Citi US Economic Surprise Index -7.0 -7.3 points
  • 10-Year TIPS Spread 2.54 +1 bp
Overseas Futures:
  • Nikkei Futures: Indicating +78 open in Japan
  • DAX Futures: Indicating +5 open in Germany
Portfolio:
  • Slightly Lower: On losses in my tech sector longs and emerging markets shorts
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
  • Market Exposure: 50% Net Long

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