Stocks Lower into Final Hour on Global Growth Worries, Ebola Fears, Earnings Concerns, Energy/Airline Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Mixed
  

• Volume: Heavy

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 21.11 -.61%

• Euro/Yen Carry Return Index 142.13 +.17%

• Emerging Markets Currency Volatility(VXY) 8.29 +.85%

• S&P 500 Implied Correlation 61.22 -4.31%

• ISE Sentiment Index 58.0 -15.94%

• Total Put/Call 1.47 +21.49%

• NYSE Arms .96 -30.22% 

Credit Investor Angst:

• North American Investment Grade CDS Index 71.38 -.65%

• European Financial Sector CDS Index 68.79 -.89%

• Western Europe Sovereign Debt CDS Index 26.51 +1.65%
• Asia Pacific Sovereign Debt CDS Index 72.91 +2.42%

• Emerging Market CDS Index 267.05 +.56%

• China Blended Corporate Spread Index 328.69 unch.
• 2-Year Swap Spread 26.75 +.5 basis point

• TED Spread 22.5 unch.

• 3-Month EUR/USD Cross-Currency Basis Swap -9.50 unch.

Economic Gauges:

• 3-Month T-Bill Yield .01% unch.

• Yield Curve 185.0 -1.0 basis point

• China Import Iron Ore Spot $84.17/Metric Tonne +4.9%

• Citi US Economic Surprise Index 19.10 unch.

• Citi Emerging Markets Economic Surprise Index -24.80 +2.2 points

• 10-Year TIPS Spread 1.96 -1 basis point

Overseas Futures:

• Nikkei Futures: Indicating -290 open in Japan

• DAX Futures: Indicating -3 open in Germany

Portfolio: 

• Slightly Lower: On losses in my retail/biotech sector longs and emerging markets shorts

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 50% Net Long