Stocks Lower into Final Hour on Rising Global Growth Fears, Increasing Asian Tensions, Eurozone Debt Angst, Tech/Gaming 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 14.39 +3.60%

• ISE Sentiment Index 80.0 +15.94%

• Total Put/Call 1.05 -3.67%

• NYSE Arms 1.07 +45.99%

Credit Investor Angst:

• North American Investment Grade CDS Index 87.29 -.79%

• European Financial Sector CDS Index 175.44 -2.02%

• Western Europe Sovereign Debt CDS Index 102.72 -.46%

• Emerging Market CDS Index 252.83 -2.19%

• 2-Year Swap Spread 15.0 -.25 bp

• TED Spread 21.75 -.25 bp

• 3-Month EUR/USD Cross-Currency Basis Swap -17.50 +.75 bp

Economic Gauges:

• 3-Month T-Bill Yield .06% unch.

• Yield Curve 147.0 -6 bps

• China Import Iron Ore Spot $135.90/Metric Tonne unch.

• Citi US Economic Surprise Index 4.0 -1.4 points

• 10-Year TIPS Spread 2.47 -2 bps

Overseas Futures:

• Nikkei Futures: Indicating +313 open in Japan

• DAX Futures: Indicating +7 open in Germany

Portfolio: 

• Slightly Lower: On losses in my tech/medical sector longs
• Disclosed Trades: None
• Market Exposure: 50% Net Long