Wednesday, November 13, 2013

Stocks Rising into Final Hour on Central Bank Hopes, Short-Covering, Investor Performance Angst, Tech/Retail 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) 12.91 +.70%
  • Euro/Yen Carry Return Index 139.51 -.06%
  • Emerging Markets Currency Volatility(VXY) 9.22 -3.96%
  • S&P 500 Implied Correlation 37.47 -3.92%
  • ISE Sentiment Index 116.0 +23.4%
  • Total Put/Call .80 -1.23%
  • NYSE Arms .53 -37.71% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 72.69 -.90%
  • European Financial Sector CDS Index 109.50 +2.44%
  • Western Europe Sovereign Debt CDS Index 64.0 +2.07%
  • Emerging Market CDS Index 299.58 -.42%
  • 2-Year Swap Spread 11.0 +.5 basis point
  • TED Spread 17.0 -1.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -3.5 unch.
Economic Gauges:
  • 3-Month T-Bill Yield .07% +1 basis point
  • Yield Curve 242.0 -2 basis points
  • China Import Iron Ore Spot $136.10/Metric Tonne +.15%
  • Citi US Economic Surprise Index 18.0 +.4 point
  • Citi Emerging Markets Economic Surprise Index -15.90 -1.1 points
  • 10-Year TIPS Spread 2.18 -1 basis point
Overseas Futures:
  • Nikkei Futures: Indicating +149 open in Japan
  • DAX Futures: Indicating +39 open in Germany
Portfolio: 
  • Higher: On gains in my tech/retail/biotech sector longs and emerging markets shorts
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

1 comment:

theyenguy said...

US Shares, VTI, rose to new highs on anticipation of Yellonomics, that is anticipation of Janet Yellen announcing ongoing US Federal Reserve easing. US Stockbrokers, IAI, such as IBRK, ETFC, MKTX, Investment Bankers, KCE, such as MS, rose to new rally highs. The Too Big To Fail Banks, RWW, such as BAC, BK, STI, STT, Regional Banks, KRE, such as FIBK, SBNY FITB, HBAN, and Asset Managers, such as BX, AMP, AMG, PFG, rose strongly.


Sectors trading higher included Social Media, SOCL, Solar, TAN, Nasdaq Internet, PNQI, Media, PBS, Spin Offs, CSD, IPOs, FPX, Internet Retail, FDN, Consumer Services, IYC, Retail, XRT, Consumer Discretionary, RXI, Pharmaceuticals, PJP, Semiconductors, XSD, Global Industrial Producers, FXR, Transportation, XTN, Aerospace, PPA, Software, IGV, Small Cap Pure Value, RZV, and Small Cap Pure Growth, RZG.


Macys, M, Ross Stores, ROST, Ulta Salon, ULTA, TJX Companies, TJX, Kors, KORS, Foot Locker, FL, Designer Shoe Warehouse, DSW, Nike, NKE, Rite Aid, RAD, Walgreens, WAG, led Retailers, XRT, higher.


General Motoers, GM, rose to a new high as IB Times reports Taxpayer Loss From From General Motors Bailout Near $10 Billion And Rising


Sectors trading lower included Copper Miners, COPX, and Global Industrial Miners, PICK, which sent Emerging Market Miners, EMMT, strongly lower.


Yield bearing sectors trading higher included Utilities, XLU, Global Utilities, DBU, US Real Estate, IYR, Small Cap Real Estate, ROOF.


Japan, NKY, traded higher, with banks, MTU, MFG, and SMFG, and Credit Provider, IX, trading higher.


Nations trading higher included Turkey, TUR, Thailand, THD, Indonesia, IDX, New Zealand, ENZL, India, INP, traded higher with banks, ITUB, IBN, trading higher. Brazil, EWZ, traded higher, with banks, BSBR, BBD, BBDO, trading higher.


Peru, EPU, traded lower as its Copper Miner, SCCO, traded lower. South Korea, EWY, traded lower with banks SHG, WF, KB, trading lower. Australia, EWA, KROO, traded lower after yesterday’s fall lower in bank WBK, on a lower Australian Dollar, FXA. China, YAO, traded lower with Chinese Financials, CHIX, trading lower.


Since October 23, 2013, US Stocks, VTI, have been headed higher on anticipation of Janet Yellen announcing continued US Fed easing; but Emerging Market Stocks, EEM, have been headed lower, on the higher US Interest Rate on the US Ten Year Note, TNX, as is seen in the ongoing combine chart of VTI, and EEM.


Aggregate Credit, AGG, traded higher on a Flattening Yield Curve, as is seen in the Flattner ETN, FLAT, trading higher, and the Steepner ETN, STPP, trading lower.