Thursday, January 10, 2013

Stocks Rising into Final Hour on Less Eurozone Debt Angst, Diminishing Global Growth Fears, Short-Covering, Financial/Tech Sector Strength

Broad Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • VIX 13.56 -1.81%
  • ISE Sentiment Index 140.0 +45.8%
  • Total Put/Call .77 -9.41%
  • NYSE Arms .58 -64.84%
Credit Investor Angst:
  • North American Investment Grade CDS Index 86.63 +.03%
  • European Financial Sector CDS Index 127.40 +2.57%
  • Western Europe Sovereign Debt CDS Index 99.83 -1.96%
  • Emerging Market CDS Index 213.69 +2.76%
  • 2-Year Swap Spread 14.0 +.5 bp
  • TED Spread 24.50 -.5 bp
  • 3-Month EUR/USD Cross-Currency Basis Swap -16.50 +3.5 bps
Economic Gauges:
  • 3-Month T-Bill Yield .06% unch.
  • Yield Curve 165.0 +4 bps
  • China Import Iron Ore Spot $158.50/Metric Tonne -.19%
  • Citi US Economic Surprise Index 28.70 -1.3 points
  • 10-Year TIPS Spread 2.53 +1 bp
Overseas Futures:
  • Nikkei Futures: Indicating +118 open in Japan
  • DAX Futures: Indicating +30 open in Germany
Portfolio:
  • Higher: On gains in my medical/biotech/tech/retail sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
  • Market Exposure: 50% Net Long

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