Friday, November 08, 2013

Stocks Surging into Final Hour on Better US Economic Data, Short-Covering, Investor Performance Angst, Financial/Biotech Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Substantially Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 13.23 -4.89%
  • Euro/Yen Carry Return Index 138.10 +.59%
  • Emerging Markets Currency Volatility(VXY) 9.40 -.11%
  • S&P 500 Implied Correlation 38.73 -5.31%
  • ISE Sentiment Index 103.0 -3.74%
  • Total Put/Call .84 -7.69%
  • NYSE Arms .60 -60.26% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 71.99 -2.56%
  • European Financial Sector CDS Index 106.25 -3.52%
  • Western Europe Sovereign Debt CDS Index 66.48 +.67%
  • Emerging Market CDS Index 300.04 +4.31%
  • 2-Year Swap Spread 11.75 unch.
  • TED Spread 18.5 +.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -2.75 +1.25 basis points
Economic Gauges:
  • 3-Month T-Bill Yield .06% unch.
  • Yield Curve 243.0 +11 basis points
  • China Import Iron Ore Spot $135.90/Metric Tonne -.73%
  • Citi US Economic Surprise Index 19.40 +6.4 points
  • Citi Emerging Markets Economic Surprise Index -12.60 unch.
  • 10-Year TIPS Spread 2.17 unch.
Overseas Futures:
  • Nikkei Futures: Indicating +189 open in Japan
  • DAX Futures: Indicating +9 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech/retail/biotech/medical sector longs and emerging markets shorts
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

No comments: