Weekly Scoreboard*

Indices

• S&P 500 2,191.73 -1.05%

• DJIA 19,172.0 +.03%

• NASDAQ 5,255.43 -2.78%

• Russell 2000 1,314.76 -2.46%

• S&P 500 High Beta 36.52 +1.42%

• Goldman 50 Most Shorted 119.80 -1.98%

• Wilshire 5000 22,787.90 -1.23%

• Russell 1000 Growth 1,032.33 -2.04%

• Russell 1000 Value 1,078.85 -.18%

• S&P 500 Consumer Staples 516.36 -1.67%

• Vanda Cyclicals-Defensives 1.3137 -.008%
  

• Morgan Stanley Technology 1,182.85 -3.50%

• Transports 9,050.91 -.09%

• Utilities 633.61 -1.31%

• Bloomberg European Bank/Financial Services 85.17 -.1%

• MSCI Emerging Markets 35.20 -.24%

• HFRX Equity Hedge 1,153.39 +.38%

• HFRX Equity Market Neutral 997.98 -.17%

Sentiment/Internals

• NYSE Cumulative A/D Line 268,516 -.64%

• Bloomberg New Highs-Lows Index 240-400

• Bloomberg Crude Oil % Bulls 56.41 +26.94%

• CFTC Oil Net Speculative Position 276,320 unch.

• CFTC Oil Total Open Interest 1,995,504 -1.58%

• Total Put/Call .95 +24.05%

• OEX Put/Call 1.21 -83.57%

• ISE Sentiment 93.0 -21.74%

• NYSE Arms .88 -15.53%

• Volatility(VIX) 14.12 +14.83%

• S&P 500 Implied Correlation 52.96 -.8%

• G7 Currency Volatility (VXY) 10.67 +1.52%

• Emerging Markets Currency Volatility (EM-VXY) 10.95 -2.41%

• Smart Money Flow Index 19,137.31 -.5%

• ICI Money Mkt Mutual Fund Assets $2.719 Trillion +.51%

• ICI US Equity Weekly Net New Cash Flow -$.844 Billion

• AAII % Bulls 43.8 -12.3%

• AAII % Bears 25.1 +13.7%

Futures Spot Prices

• CRB Index 191.69 +3.21%

• Crude Oil 51.66 +12.38%

• Reformulated Gasoline 155.99 +13.66%

• Natural Gas 3.45 +12.44%

• Heating Oil 166.28 +13.17%

• Gold 1,176.30 -.59%

• Bloomberg Base Metals Index 173.62 -1.88%

• Copper 262.70 -1.92%

• US No. 1 Heavy Melt Scrap Steel 207.0 USD/Ton unch.

• China Iron Ore Spot 77.79 USD/Ton -2.29%

• Lumber 336.90 +.75%

• UBS-Bloomberg Agriculture 1,134.20 -2.5%

Economy

• Atlanta Fed GDPNow Forecast +2.9% -70.0 basis points
• ECRI Weekly Leading Economic Index Growth Rate +8.3% +210.0 basis points
  

• Philly Fed ADS Real-Time Business Conditions Index -.1274 +6.05%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 130.29 +.29%

• Citi US Economic Surprise Index 24.70 +15.4 points

• Citi Eurozone Economic Surprise Index 61.40 -1.9 points

• Citi Emerging Markets Economic Surprise Index 1.5 +7.1 points

• Fed Fund Futures imply 0.0% chance of no change 100.0% chance of 25 basis point hike on 12/14

• US Dollar Index 100.78 -.76%
• MSCI Emerging Markets Currency Index 1,500.32 +.27%

• Euro/Yen Carry Return Index 126.67 +1.03%

• Yield Curve 128.0 +4.0 basis points

• 10-Year US Treasury Yield 2.39% +3.0 basis points

• Federal Reserve's Balance Sheet $4.407 Trillion -.46%

• U.S. Sovereign Debt Credit Default Swap 29.9 +3.45%

• Illinois Municipal Debt Credit Default Swap 358.0 -.02%

• Western Europe Sovereign Debt Credit Default Swap Index 23.19 -1.23%

• Asia Pacific Sovereign Debt Credit Default Swap Index 41.47 -6.38%
  

• Emerging Markets Sovereign Debt CDS Index 99.97 -1.23%
  

• Israel Sovereign Debt Credit Default Swap 71.09 -3.41%

• Iraq Sovereign Debt Credit Default Swap 760.05 +1.38%

• Russia Sovereign Debt Credit Default Swap 222.33 -3.29%

• iBoxx Offshore RMB China Corporate High Yield Index 132.95 +.05%

• 10-Year TIPS Spread 1.95% +2.0 basis points
  

• TED Spread 47.0 +2.5 basis points

• 2-Year Swap Spread 20.5 +.75 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap 615.0 -5.75 basis points

• N. America Investment Grade Credit Default Swap Index 72.83 -.44%

• America Energy Sector High-Yield Credit Default Swap Index 551.0 -10.26%

• European Financial Sector Credit Default Swap Index 104.75 -3.6%
  

• Emerging Markets Credit Default Swap Index 272.82 +.69%
  

• CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 135.0 -2.5 basis points
  

• M1 Money Supply $3.404 Trillion +.64%

• Commercial Paper Outstanding 923.8 +.2%

• 4-Week Moving Average of Jobless Claims 251,500 +500

• Continuing Claims Unemployment Rate 1.5% unch.

• Average 30-Year Mortgage Rate 4.08% +5.0 basis points

• Weekly Mortgage Applications 417.20 -9.4%

• Bloomberg Consumer Comfort 44.9 +.1 point

• Weekly Retail Sales +1.20% +30.0 basis points

• Nationwide Gas $2.16/gallon +.03/gallon

• Baltic Dry Index 1,196.0 +1.27%

• China (Export) Containerized Freight Index 774.05 -.40%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 40.0 unch.

• Rail Freight Carloads 222,893 -19.35%

Best Performing Style

• Large-Cap Value -.2%

Worst Performing Style

• Small-Cap Growth -3.8%

Leading Sectors

• Oil Service +7.3%

• Coal +4.9%

• Gold & Silver +4.2%

• Energy +3.4%

• Banks +1.4%

Lagging Sectors

• Hospitals -3.5% 

• Software -3.5%

• Alt Energy -4.6%

• Biotech -4.7%

• Semis -5.0%

Weekly High-Volume Stock Gainers (10)

• TLYS, CLC, NOVN, SKX, TIME, THO, PKY, WGL, IIIN and UA/C

Weekly High-Volume Stock Losers (8)

• GOOD, KNSL, SNBC, SSNC, BOJA, SITE, SCVL and GES

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Slightly Lower into Final Hour on European Debt Angst, Yen Strength, Profit-Taking, Financial/Restaurant Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Higher
  

• Sector Performance: Mixed
  

• Volume: Around Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 14.09 +.14%

• Euro/Yen Carry Return Index 126.60 -.36%

• Emerging Markets Currency Volatility(VXY) 10.95 +.09%

• S&P 500 Implied Correlation 52.71 -4.51%

• ISE Sentiment Index 105.0 +25.0%
  

• Total Put/Call .98 +4.26%

• NYSE Arms .91 +36.38%

Credit Investor Angst:

• North American Investment Grade CDS Index 72.82 -.81%
  

• America Energy Sector High-Yield CDS Index 551.0 -3.23%

• European Financial Sector CDS Index 104.75 -1.76%

• Western Europe Sovereign Debt CDS Index 23.18 -.79%

• Asia Pacific Sovereign Debt CDS Index 41.47 -.38%

• Emerging Market CDS Index 272.82 -.17%
  

• iBoxx Offshore RMB China Corporate High Yield Index 132.95 -.02%

• 2-Year Swap Spread 20.5 +.75 basis point

• TED Spread 47.5 +1.75 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -61.0 -4.0 basis points
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 69.34 +.21%
• 3-Month T-Bill Yield .47% unch.

• Yield Curve 129.0 unch.
  

• China Import Iron Ore Spot $77.79/Metric Tonne -.73%

• Citi US Economic Surprise Index 24.70 +6.5 points

• Citi Eurozone Economic Surprise Index 61.40 +.1 point

• Citi Emerging Markets Economic Surprise Index 1.5 +3.0 points

• 10-Year TIPS Spread 1.95% -5.0 basis points
• 100.0% chance of Fed rate hike at Feb. 1 meeting, 100.0% chance at March 15 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -51 open in Japan 
• China A50 Futures: Indicating +12 open in China

• DAX Futures: Indicating -8 open in Germany

Portfolio: 

• Slightly Higher: On gains in my medical/biotech/tech/retail sector longs

• Disclosed Trades: None

• Market Exposure: 25% Net Long

Morning Market Internals

NYSE Composite Index:

• Volume Running +10.2% Above 100-Day Average
• 7 Sectors Rising, 3 Sectors Declining
• 58.9% of Issues Advancing, 37.7% Declining
• 49 New 52-Week Highs, 50 New Lows
• 53.6% of Issues Above 200-day Moving Average
• Average 14-Day RSI 43.2%
• Vix 14.0 -.6%
• Total Put/Call .94 unch.
• TRIN/Arms .94 +39.3%