Stocks Rising into Final Hour on Central Bank Hopes, Investor Perforance Angst, Short-Covering, Metals/Healthcare Sector Strength

Broad Market Tone:

• Advance/Decline Line: About Even
  

• Sector Performance: Most Sectors Rising
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• VIX 12.94 +.86%

• ISE Sentiment Index 141.0 +46.88%

• Total Put/Call .88 -1.12%

• NYSE Arms .70 -39.33%

Credit Investor Angst:

• North American Investment Grade CDS Index 69.24 +.47%

• European Financial Sector CDS Index 133.07 +4.89%

• Western Europe Sovereign Debt CDS Index 91.40 +2.25%

• Emerging Market CDS Index 231.23 +.20%

• 2-Year Swap Spread 13.75 -.5 bp

• TED Spread 23.50 -1 bp

• 3-Month EUR/USD Cross-Currency Basis Swap -15.25 +.25 bp

Economic Gauges:

• 3-Month T-Bill Yield .04% +1 bp

• Yield Curve 154.0 -2 bps

• China Import Iron Ore Spot $130.20/Metric Tonne +.15%

• Citi US Economic Surprise Index -7.9 -3.0 points

• 10-Year TIPS Spread 2.28 -3 bps

Overseas Futures:

• Nikkei Futures: Indicating +115 open in Japan

• DAX Futures: Indicating +7 open in Germany

Portfolio: 

• Higher: On gains in my retail/tech/medical sector longs

• Disclosed Trades: None

• Market Exposure: 75% Net Long