Stocks Falling into Final Hour on Economic Data, Profit-Taking, Technical Selling, Tech/Homebuilding Sector Weakness

Broad Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Around Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• VIX 11.66 +3.19%

• ISE Sentiment Index 129.0 +37.33%

• Total Put/Call .85 +19.72%

• NYSE Arms 1.08 +58.27%

Credit Investor Angst:

• North American Investment Grade CDS Index 78.92 +.75%

• European Financial Sector CDS Index 142.87 +1.38%

• Western Europe Sovereign Debt CDS Index 98.95 -.28%

• Emerging Market CDS Index 239.62 +.59%

• 2-Year Swap Spread 13.5 -.25 bp

• TED Spread 19.75 +1.0 bp

• 3-Month EUR/USD Cross-Currency Basis Swap -16.5 unch.

Economic Gauges:

• 3-Month T-Bill Yield .08% -1 bp

• Yield Curve 174.0 -3 bps

• China Import Iron Ore Spot $134.60/Metric Tonne +1.28%

• Citi US Economic Surprise Index 27.0 -2.3 points

• 10-Year TIPS Spread 2.57 -2 bps

Overseas Futures:

• Nikkei Futures: Indicating -103 open in Japan

• DAX Futures: Indicating -5 open in Germany

Portfolio: 

• Slightly Lower: On losses in my retail/tech/medical sector longs

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back

• Market Exposure: 50% Net Long