Stocks Slightly Higher into Final Hour on US Economic Data, Short-Covering, Investor Performance Angst, Healthcare/Tech Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Lower
  

• Sector Performance: Mixed
  

• Volume: Around Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 13.34 -2.27%

• Euro/Yen Carry Return Index 139.38 -1.22%

• Emerging Markets Currency Volatility(VXY) 8.11 +3.97%

• S&P 500 Implied Correlation 39.26 -3.71%

• ISE Sentiment Index 142.0 +56.04%

• Total Put/Call .89 -8.25%

• NYSE Arms .98 +26.11% 

Credit Investor Angst:

• North American Investment Grade CDS Index 72.85 -.29%

• European Financial Sector CDS Index 117.94 -2.40%

• Western Europe Sovereign Debt CDS Index 70.0 +1.45%

• Emerging Market CDS Index 270.21 +.06%

• 2-Year Swap Spread 12.0 +.25 basis point

• TED Spread 20.5 -.75 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -4.0 -1.0 basis point

Economic Gauges:

• 3-Month T-Bill Yield .04% +1 basis point

• Yield Curve 224.0 +3 basis points

• China Import Iron Ore Spot $131.90/Metric Tonne +.53%

• Citi US Economic Surprise Index 3.80 +5.9 points

• Citi Emerging Markets Economic Surprise Index -11.10 -2.0 points

• 10-Year TIPS Spread 2.17 -1 basis point

Overseas Futures:

• Nikkei Futures: Indicating +128 open in Japan

• DAX Futures: Indicating +7 open in Germany

Portfolio: 

• Slightly Higher: On gains in my tech sector longs and emerging markets shorts

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back

• Market Exposure: 50% Net Long