Thursday, October 17, 2013

Stocks Reversing Higher into Final Hour on Central Bank Hopes, Lower Long-Term Rates, Short-Covering, Homebuilding/Metals & Mining Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Slightly Below Average
  • Market Leading Stocks: Outperforming
Equity Investor Angst:
  • Volatility(VIX) 13.51 -8.16%
  • Euro/Yen Carry Return Index 139.56 +.16%
  • Emerging Markets Currency Volatility(VXY) 8.54 -2.73%
  • S&P 500 Implied Correlation 38.81 -7.81%
  • ISE Sentiment Index 81.0 unch.
  • Total Put/Call .90 -3.23%
  • NYSE Arms 1.33 +107.29% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 71.34 -3.06%
  • European Financial Sector CDS Index 124.15 +3.16%
  • Western Europe Sovereign Debt CDS Index 70.53 +.76%
  • Emerging Market CDS Index 264.42 +.26%
  • 2-Year Swap Spread 13.50 unch.
  • TED Spread 20.75 +5.75 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -6.25 +1.25 basis points
Economic Gauges:
  • 3-Month T-Bill Yield .04% -6 basis points
  • Yield Curve 227.0 -7 basis points
  • China Import Iron Ore Spot $134.40/Metric Tonne +.52%
  • Citi US Economic Surprise Index 24.0 -2.8 points
  • Citi Emerging Markets Economic Surprise Index -8.60 -1.4 points
  • 10-Year TIPS Spread 2.17 -2 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +18 open in Japan
  • DAX Futures: Indicating +14 open in Germany
Portfolio: 
  • Higher: On gains in my tech/medical/biotech sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 75% Net Long

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