Tuesday, March 19, 2013

Stocks Falling into Final Hour on Surging Eurozone Debt Angst, Rising Global Growth Fears, Technical Selling, Commodity/Retail Sector Weakness

Broad Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Most Sectors Declining
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • VIX 14.61 +9.36%
  • ISE Sentiment Index 88.0 -22.1%
  • Total Put/Call .95 +5.56%
  • NYSE Arms 1.21 -29.17%
Credit Investor Angst:
  • North American Investment Grade CDS Index 82.95 +3.22%
  • European Financial Sector CDS Index 162.13 +6.45%
  • Western Europe Sovereign Debt CDS Index 101.0 +.39%
  • Emerging Market CDS Index 246.07 +1.7%
  • 2-Year Swap Spread 18.0 +3.0 bps
  • TED Spread 21.0 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -21.25 -2.25 bps
Economic Gauges:
  • 3-Month T-Bill Yield .06% -1 bp
  • Yield Curve 166.0 -4 bps
  • China Import Iron Ore Spot $134.40/Metric Tonne -.15%
  • Citi US Economic Surprise Index 26.90 +5.9 points
  • 10-Year TIPS Spread 2.52 -2 bps
Overseas Futures:
  • Nikkei Futures: Indicating -33 open in Japan
  • DAX Futures: Indicating +9 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my index hedges and emerging markets shorts
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges, then covered some of them
  • Market Exposure: 50% Net Long

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