Monday, January 07, 2013

Stocks Slightly Lower into Final Hour on Rising Fiscal Cliff Worries, More Shorting, Profit-Taking, Commodity/Road & Rail Sector Weakness

Today's Market Take:

Broad Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • VIX 13.99 +1.16%
  • ISE Sentiment Index 124.0 +10.7%
  • Total Put/Call .88 +4.76%
  • NYSE Arms 1.25 +51.94%
Credit Investor Angst:
  • North American Investment Grade CDS Index 85.06 -.58%
  • European Financial Sector CDS Index 122.61 -2.46%
  • Western Europe Sovereign Debt CDS Index 99.97 -1.52%
  • Emerging Market CDS Index 195.97 +1.16%
  • 2-Year Swap Spread 13.0 -.5 bp
  • TED Spread 25.0 +1 bp
  • 3-Month EUR/USD Cross-Currency Basis Swap -19.75 -.75 bp
Economic Gauges:
  • 3-Month T-Bill Yield .06% -1 bp
  • Yield Curve 163.0 -1 bp
  • China Import Iron Ore Spot $153.90/Metric Tonne +.39%
  • Citi US Economic Surprise Index 31.90 -2.2 points
  • 10-Year TIPS Spread 2.52 +4 bps
Overseas Futures:
  • Nikkei Futures: Indicating +46 open in Japan
  • DAX Futures: Indicating +3 open in Germany
Portfolio:
  • Slightly Higher: On gains in my medical/biotech sector longs and index hedges
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

1 comment:

theyenguy said...

Gold Mining Stocks traded lower today, January 7, 2013, making for a buying opportunity. In a bull market one buys into dips, and in a bear market one sells into rallies. The chart of Gold Mining Stocks, GDX, shows that they broke out December 20, 2012, and traded 1.8% lower today on a 0.6% trade lower in Gold, GLD. Ten Mid Cap Gold Mining Stocks, seen in this Finviz Screener ... http://tinyurl.com/bk3opjd ... having strong growth potential include AEM, EGO, GOLD, ANV, RGLD, FNV, AUO, NGD, AUY, KGC; as a group these traded 1.6% lower today.