Tuesday, July 29, 2014

Stocks Slightly Lower into Final Hour on Escalating Russia-Ukraine/Mideast Tensions, Fed Rate Hike Worries, Technical Selling, Road & Rail/Homebuilding Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 12.92 +2.87%
  • Euro/Yen Carry Return Index 142.97 +.05%
  • Emerging Markets Currency Volatility(VXY) 6.05 +1.17%
  • S&P 500 Implied Correlation 55.59 +1.02%
  • ISE Sentiment Index 109.0 +6.86%
  • Total Put/Call .83 -10.75%
  • NYSE Arms 1.10 +2.24% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 59.86 +.62%
  • European Financial Sector CDS Index 67.64 +1.66%
  • Western Europe Sovereign Debt CDS Index 33.78 +1.78%
  • Asia Pacific Sovereign Debt CDS Index 71.26 +.71%
  • Emerging Market CDS Index 257.23 +.56%
  • China Blended Corporate Spread Index 299.91 -.77%
  • 2-Year Swap Spread 17.0 -3.75 basis points
  • TED Spread 21.50 +.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -8.25 -.25 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .02% -1.0 basis point
  • Yield Curve 192.0 -6.0 basis points
  • China Import Iron Ore Spot $95.30/Metric Tonne +1.06%
  • Citi US Economic Surprise Index -18.0 +2.7 points
  • Citi Emerging Markets Economic Surprise Index -.6 -.1 point
  • 10-Year TIPS Spread 2.27 unch.
Overseas Futures:
  • Nikkei Futures: Indicating +42 open in Japan
  • DAX Futures: Indicating -1 open in Germany
Portfolio: 
  • Higher: On gains in my retail/biotech/medical sector longs and emerging markets shorts
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 25% Net Long

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