Thursday, February 28, 2013

Stocks Slightly Higher on Less Eurozone Debt Angst, US Economic Data, Short-Covering, Road&Rail/Biotech Sector Strength

Today's Market Take:

Broad Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 14.90 +1.15%
  • ISE Sentiment Index 111.0 +11.0%
  • Total Put/Call .96 -1.03%
  • NYSE Arms 1.05 +134.08%
Credit Investor Angst:
  • North American Investment Grade CDS Index 87.11 -.21%
  • European Financial Sector CDS Index 156.94 -.57%
  • Western Europe Sovereign Debt CDS Index 103.66 -3.25%
  • Emerging Market CDS Index 245.58 +3.45%
  • 2-Year Swap Spread 14.0 -1.5 bps
  • TED Spread 18.50 +.5 bp
  • 3-Month EUR/USD Cross-Currency Basis Swap -20.25 -.75 bp
Economic Gauges:
  • 3-Month T-Bill Yield .10% -1 bp
  • Yield Curve 164.0 -2 bps
  • China Import Iron Ore Spot $151.70/Metric Tonne -.13%
  • Citi US Economic Surprise Index 2.80 -3.9 points
  • 10-Year TIPS Spread 2.55 +2 bps
Overseas Futures:
  • Nikkei Futures: Indicating +17 open in Japan
  • DAX Futures: Indicating +18 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my medical/biotech sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short, then added them back
  • Market Exposure: 50% Net Long

No comments: