Tuesday, January 28, 2014

Stocks Higher into Final Hour on Less Emerging Markets/Eurozone Debt Angst, Weaker Yen, Short-Covering, Homebuilding/Biotech Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Around Average
  • Market Leading Stocks: Outperforming
Equity Investor Angst:
  • Volatility(VIX) 16.04 -7.92%
  • Euro/Yen Carry Return Index 146.55 +.20%
  • Emerging Markets Currency Volatility(VXY) 9.75 -.61%
  • S&P 500 Implied Correlation 57.18 -2.31%
  • ISE Sentiment Index 138.0 +5.34%
  • Total Put/Call .76 -11.63%
  • NYSE Arms .72 -12.0% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 70.22 -3.26%
  • European Financial Sector CDS Index 99.41 -4.88%
  • Western Europe Sovereign Debt CDS Index 54.0 -1.82%
  • Asia Pacific Sovereign Debt CDS Index 112.27 -4.49%
  • Emerging Market CDS Index 323.20 -3.83%
  • 2-Year Swap Spread 14.50 -.5 basis point
  • TED Spread 19.0 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -3.0 -.25 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .05% unch.
  • Yield Curve 241.0 unch.
  • China Import Iron Ore Spot $123.90/Metric Tonne -.32%
  • Citi US Economic Surprise Index 52.0 -7.0 points
  • Citi Emerging Markets Economic Surprise Index 8.0 +.9 point
  • 10-Year TIPS Spread 2.14 unch.
Overseas Futures:
  • Nikkei Futures: Indicating +158 open in Japan
  • DAX Futures: Indicating +53 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech/biotech/medical sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

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