Stocks Surging into Final Hour on Diminishing US Govt Shutdown Fears, Short-Covering, Techniical Buying, Biotech/Healthcare Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Higher
  

• Sector Performance: Almost Every Sector Gaining
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 16.74 -5.26%

• Euro/Yen Carry Return Index 137.71 -.31%

• Emerging Markets Currency Volatility(VXY) 9.77 -.31%

• S&P 500 Implied Correlation 49.10 -5.56%

• ISE Sentiment Index 132.0 +41.94%

• Total Put/Call .88 -8.33%

• NYSE Arms .90 -27.41% 

Credit Investor Angst:

• North American Investment Grade CDS Index 79.29 -1.85%

• European Financial Sector CDS Index 135.91 -3.59%

• Western Europe Sovereign Debt CDS Index 82.66 +.43%

• Emerging Market CDS Index 286.22 -2.54%

• 2-Year Swap Spread 13.25 -.5 basis point

• TED Spread 22.25 unch.

• 3-Month EUR/USD Cross-Currency Basis Swap -6.0 -.25 basis point

Economic Gauges:

• 3-Month T-Bill Yield .02% unch.

• Yield Curve 232.0 +3 basis points

• China Import Iron Ore Spot $131.40/Metric Tonne unch.

• Citi US Economic Surprise Index 44.70 -.2 point

• Citi Emerging Markets Economic Surprise Index .80 +1.7 points

• 10-Year TIPS Spread 2.21 +1 basis point

Overseas Futures:

• Nikkei Futures: Indicating +190 open in Japan

• DAX Futures: Indicating +23 open in Germany

Portfolio: 

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

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short

• Market Exposure: Moved to 75% Net Long