Stocks Rising Slightly into Final Hour on Diminishing Global Growth Fears, Short-Covering, Healthcare/Transport Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 15.65 -1.45%
• Euro/Yen Carry Return Index 136.99 -.26%
• Emerging Markets Currency Volatility(VXY) 11.87 +.68%
• S&P 500 Implied Correlation 50.39 -2.38%

• ISE Sentiment Index 120.0 +4.35%

• Total Put/Call .83 +3.75%

• NYSE Arms .54 -21.94% 

Credit Investor Angst:

• North American Investment Grade CDS Index 83.20 +.59%

• European Financial Sector CDS Index 147.0 +1.73%

• Western Europe Sovereign Debt CDS Index 91.0 +1.11%

• Emerging Market CDS Index 340.94 -.99%

• 2-Year Swap Spread 15.25 unch.

• TED Spread 24.25 unch.

• 3-Month EUR/USD Cross-Currency Basis Swap -10.50 unch.

Economic Gauges:

• 3-Month T-Bill Yield .02% unch.

• Yield Curve 247.0 +4 bps

• China Import Iron Ore Spot $137.10/Metric Tonne -.65%

• Citi US Economic Surprise Index 53.40 +17.4 points
• Citi Emerging Markets Economic Surprise Index -15.80 +.2 point

• 10-Year TIPS Spread 2.08 unch.

Overseas Futures:

• Nikkei Futures: Indicating +35 open in Japan

• DAX Futures: Indicating -7 open in Germany

Portfolio: 

• Slightly Higher: On gains in my tech/biotech/retail/medical sector longs
• Disclosed Trades: None
• Market Exposure: 50% Net Long