Thursday, March 21, 2013

Stocks Falling into Final Hour on Rising Eurozone Debt Angst, More Global Growth Fears, Technical Selling, Homebuilding/Tech Sector Weakness

Today's Market Take:

Broad Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Almost Every Sector Declining
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 13.65 +7.73%
  • ISE Sentiment Index 73.0 -31.13%
  • Total Put/Call .86 +17.81%
  • NYSE Arms 1.59 +77.39%
Credit Investor Angst:
  • North American Investment Grade CDS Index 90.95 +1.9%
  • European Financial Sector CDS Index 169.52 +.71%
  • Western Europe Sovereign Debt CDS Index 101.17 +.27%
  • Emerging Market CDS Index 262.55 +3.59%
  • 2-Year Swap Spread 17.50 +.5 bp
  • TED Spread 22.25 +.5 bp
  • 3-Month EUR/USD Cross-Currency Basis Swap -20.25 -1.0 bp
Economic Gauges:
  • 3-Month T-Bill Yield .06% -1 bp
  • Yield Curve 167.0 -3 bps
  • China Import Iron Ore Spot $134.20/Metric Tonne +.07%
  • Citi US Economic Surprise Index 28.80 +1.6 points
  • 10-Year TIPS Spread 2.53 -1 bp
Overseas Futures:
  • Nikkei Futures: Indicating -115 open in Japan
  • DAX Futures: Indicating -3 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my retail, tech and biotech sector longs
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 25% Net Long

No comments: