Stocks Slightly Higher into Final Hour on Buyout Speculation, Short-Covering, Oil Service/Coal Sector Strength

Today's Market Take:

Broad Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Mixed
  

• Volume: Slightly Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• VIX 12.66 -2.47%
  

• ISE Sentiment Index 114.0 -12.31%

• Total Put/Call .84 -6.67%

• NYSE Arms .88 -34.25%

Credit Investor Angst:

• North American Investment Grade CDS Index 85.75 -.16%

• European Financial Sector CDS Index 140.28 -.34%

• Western Europe Sovereign Debt CDS Index 100.0 +.28%

• Emerging Market CDS Index 230.40 -1.28%

• 2-Year Swap Spread 15.25 unch.

• TED Spread 19.50 -.5 bp

• 3-Month EUR/USD Cross-Currency Basis Swap -17.25 -.5 bp

Economic Gauges:

• 3-Month T-Bill Yield .10% +1 bp

• Yield Curve 173.0 -1 bp

• China Import Iron Ore Spot $155.10/Metric Tonne n/a

• Citi US Economic Surprise Index -5.0 +2.0 points

• 10-Year TIPS Spread 2.57 unch.

Overseas Futures:

• Nikkei Futures: Indicating -67 open in Japan

• DAX Futures: Indicating +14 open in Germany

Portfolio:

• Slightly Higher: On gains in my medical/tech sector longs 

• Disclosed Trades: None 

• Market Exposure: 50% Net Long