Stocks Falling Substantially into Final Hour on Global Growth Concerns, Fed Rate Hike Worries, Ebola Fears, Commodity/Transport Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Every Sector Declining
  

• Volume: Around Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 19.07 +26.08%

• Euro/Yen Carry Return Index 142.72 -.71%

• Emerging Markets Currency Volatility(VXY) 7.98 -1.72%

• S&P 500 Implied Correlation 60.87 +23.27%

• ISE Sentiment Index 65.0 -28.57%

• Total Put/Call .99 unch.

• NYSE Arms 1.12 +23.41% 

Credit Investor Angst:

• North American Investment Grade CDS Index 70.02 +4.60%

• European Financial Sector CDS Index 66.84 +1.35%

• Western Europe Sovereign Debt CDS Index 25.44 -3.27%
• Asia Pacific Sovereign Debt CDS Index 69.26 -.47%

• Emerging Market CDS Index 263.07 +5.56%

• China Blended Corporate Spread Index 320.69 -.78%
• 2-Year Swap Spread 26.75 +.75 basis point

• TED Spread 22.5 -.25 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -9.0 unch.

Economic Gauges:

• 3-Month T-Bill Yield .01% unch.

• Yield Curve 188.0 unch.

• China Import Iron Ore Spot $77.50/Metric Tonne n/a

• Citi US Economic Surprise Index 19.10 +1.2 points

• Citi Emerging Markets Economic Surprise Index -21.90 +.5 point

• 10-Year TIPS Spread 1.97 +1.0 basis point

Overseas Futures:

• Nikkei Futures: Indicating -175 open in Japan

• DAX Futures: Indicating -100 open in Germany

Portfolio: 

• Lower: On losses in my biotech/retail/medical/tech sector longs 

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges and to my (EEM) short

• Market Exposure: Moved to 25% Net Long