Weekly Scoreboard*

Indices

• S&P 500 2,369.27 -.72%

• DJIA 20,894.10 -.74%

• NASDAQ 5,852.78 -.52%

• Russell 2000 1,362.89 -2.54%

• S&P 500 High Beta 37.30 -2.39%

• Goldman 50 Most Shorted 119.22 -2.8%

• Wilshire 5000 24,518.64 -1.0%

• Russell 1000 Growth 1,137.94 -.37%

• Russell 1000 Value 1,141.0 -1.31%

• S&P 500 Consumer Staples 563.79 -.39%

• Vanda Cyclicals-Defensives 1.296 -.29%
  

• Morgan Stanley Technology 1,354.37 +.14%

• Transports 9,270.19 -2.66%

• Utilities 687.80 -1.71%

• Bloomberg European Bank/Financial Services 96.78 +1.16%

• MSCI Emerging Markets 37.88 -.70%

• HFRX Equity Hedge 1,183.64 -.36%

• HFRX Equity Market Neutral 1,000.14 -.33%

Sentiment/Internals

• NYSE Cumulative A/D Line 278,206 -1.73%

• Bloomberg New Highs-Lows Index 25 -279

• Bloomberg Crude Oil % Bulls 32.4 +40.2%

• CFTC Oil Net Speculative Position 525,254 -5.6%

• CFTC Oil Total Open Interest 2,120,334 +.81%

• Total Put/Call .86 -8.42%

• OEX Put/Call .37 -87.02%

• ISE Sentiment 97.0 +24.14%

• NYSE Arms .89 +45.57%

• Volatility(VIX) 11.72 +9.58%

• S&P 500 Implied Correlation 46.37 +3.0%

• G7 Currency Volatility (VXY) 9.46 -1.87%

• Emerging Markets Currency Volatility (EM-VXY) 9.42 -3.38%

• Smart Money Flow Index 19,767.41 -.33%

• ICI Money Mkt Mutual Fund Assets $2.688 Trillion +.38%

• ICI US Equity Weekly Net New Cash Flow -$3.702 Billion

• AAII % Bulls 30.0 -20.9%

• AAII % Bears 46.5 +30.5%

Futures Spot Prices

• CRB Index 182.58 -3.74%

• Crude Oil 48.48 -8.7%

• Reformulated Gasoline 159.89 -3.1%

• Natural Gas 3.0 +6.09%

• Heating Oil 150.59 -5.31%

• Gold 1,201.90 -2.70%

• Bloomberg Base Metals Index 175.33 -2.65%

• Copper 259.35 -4.15%

• US No. 1 Heavy Melt Scrap Steel 250.0 USD/Ton unch.

• China Iron Ore Spot 86.72 USD/Ton -5.04%

• Lumber 362.90 -2.32%

• UBS-Bloomberg Agriculture 1,141.96 -3.31%

Economy

• Atlanta Fed GDPNow Forecast +1.2% -60.0 basis points

• ECRI Weekly Leading Economic Index Growth Rate +9.5% -70.0 basis points
  

• Philly Fed ADS Real-Time Business Conditions Index -.0018 -126.47%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 133.05 +.05%

• Citi US Economic Surprise Index 48.0 +9.2 points

• Citi Eurozone Economic Surprise Index 57.90 -12.1 points

• Citi Emerging Markets Economic Surprise Index 51.50 -4.4 points

• Fed Fund Futures imply 0.0% chance of no change 100.0% chance of 25 basis point hike on 3/15

• US Dollar Index 101.36 +.03%

• MSCI Emerging Markets Currency Index 1,549.01 -.36%

• Euro/Yen Carry Return Index 128.02 +1.17%

• Yield Curve 122.0 +3.0 basis points

• 10-Year US Treasury Yield 2.58% +8.0 basis points

• Federal Reserve's Balance Sheet $4.421 Trillion +.04%

• U.S. Sovereign Debt Credit Default Swap 25.87 +1.79%

• Illinois Municipal Debt Credit Default Swap 389.0 -.05%

• Western Europe Sovereign Debt Credit Default Swap Index 17.44 -17.66%

• Asia Pacific Sovereign Debt Credit Default Swap Index 28.0 +5.92%
  

• Emerging Markets Sovereign Debt CDS Index 64.10 -2.60%
  

• Israel Sovereign Debt Credit Default Swap 64.94 +4.78%

• Iraq Sovereign Debt Credit Default Swap 525.32 unch.

• Russia Sovereign Debt Credit Default Swap 173.24 +4.72%

• iBoxx Offshore RMB China Corporate High Yield Index 135.65 +.22%

• 10-Year TIPS Spread 2.0% -4.0 basis points
  

• TED Spread 37.75 -6.25 basis points

• 2-Year Swap Spread 33.5 -.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -19.75 +3.0 basis points

• N. America Investment Grade Credit Default Swap Index 63.40 +5.0%

• America Energy Sector High-Yield Credit Default Swap Index 383.0 +8.4%

• European Financial Sector Credit Default Swap Index 86.50 +.54%
  

• Emerging Markets Credit Default Swap Index 217.18 +4.57%
  

• CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 141.50 -1.0 basis point
  

• M1 Money Supply $3.397 Trillion -.01%

• Commercial Paper Outstanding 963.90 -.80%

• 4-Week Moving Average of Jobless Claims 236,500 +2,250

• Continuing Claims Unemployment Rate 1.5% unch.

• Average 30-Year Mortgage Rate 4.21% +11.0 basis points

• Weekly Mortgage Applications 405.70 +3.26%

• Bloomberg Consumer Comfort 50.60 +.8 point

• Weekly Retail Sales +1.0% unch.

• Nationwide Gas $2.30/gallon -.02/gallon

• Baltic Dry Index 1,064.0 +13.31%

• China (Export) Containerized Freight Index 791.09 -.49%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 27.50 -8.33%

• Rail Freight Carloads 258,864 -2.20%

Best Performing Style

• Large-Cap Growth unch.

Worst Performing Style

• Small-Cap Value -2.4%

Leading Sectors

• Disk Drives +5.4%

• Homebuilders +2.9%

• Semis +1.9%

• Software +.8%

• Internet +.6%

Lagging Sectors

• REITs -3.7% 

• Gold & Silver -4.5%

• Coal -4.5%

• Oil Service -5.2%

• Steel -6.0%

Weekly High-Volume Stock Gainers (11)

• TGTX, CNCE, NMBL, FMI, CMTL, AF, PLCE, LGIH, TERP, MGPI and BRSS

Weekly High-Volume Stock Losers (30)

• DKS, CWH, DDR, COTV, HASI, CASY, LOCO, NAV, URBN, GEO, PATK, FOXF, BOJA, CIEN, HIIQ, KLXI, ALOG, THO, IGT, GTT, SFS, REV, AFI, TISI, BBSI, REN, HZN, NTNX, TLRD and IDT

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Modestly Higher into Afternoon on Economic Optimism, Less Emerging Markets Debt Angst, Technical Buying, Homebuilding/Tech Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 11.93 -3.01%

• Euro/Yen Carry Return Index 128.13 +.91%

• Emerging Markets Currency Volatility(VXY) 9.42 -1.67%

• S&P 500 Implied Correlation 46.17 +1.36%

• ISE Sentiment Index 109.0 +78.7%
  

• Total Put/Call .95 -15.18%

• NYSE Arms 1.04 +68.1%

Credit Investor Angst:

• North American Investment Grade CDS Index 64.33 +.71%
  

• America Energy Sector High-Yield CDS Index 383.0 -.33%

• European Financial Sector CDS Index 86.23 -.99%

• Western Europe Sovereign Debt CDS Index 17.44 +7.62%

• Asia Pacific Sovereign Debt CDS Index 28.0 -1.7%

• Emerging Market CDS Index 217.27 -1.27%
  

• iBoxx Offshore RMB China Corporate High Yield Index 135.65 -.07%

• 2-Year Swap Spread 33.5 +.75 basis point

• TED Spread 37.75 -1.0 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -19.75 +3.0 basis points
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 70.94 +.62%
• 3-Month T-Bill Yield .74% +1.0 basis point
  

• Yield Curve 122.0 -1.0 basis point
  

• China Import Iron Ore Spot $86.72/Metric Tonne -.08%

• Citi US Economic Surprise Index 48.0 +3.2 points

• Citi Eurozone Economic Surprise Index 57.90 -1.2 points

• Citi Emerging Markets Economic Surprise Index 51.50 +3.9 points

• 10-Year TIPS Spread 2.01 unch.
  
• 100.0% chance of Fed rate hike at May 3 meeting, 100.0% chance at June 14 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -99 open in Japan 
• China A50 Futures: Indicating -16 open in China

• DAX Futures: Indicating -15 open in Germany

Portfolio: 

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

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

• Market Exposure: Moved to 50% Net Long

Bear Radar

Style Underperformer:

• Small-Cap Value -.1%

Sector Underperformers:

• 1) Hospitals -2.4% 2) Coal -2.1% 3) Banks -1.1%

Stocks Falling on Unusual Volume: 

• ZUMZ, FNSR, SBGI, ARE, RDUS, SGRY, TD, CECE, IONS, ELF, PAY, CARA and WGO

Stocks With Unusual Put Option Activity:

• 1) ULTA 2) PAY 3) SXL 4) TDG 5) FNSR

Stocks With Most Negative News Mentions:

• 1) IONS 2) WGO 3) FNSR 4) TEAR 5) SGRY

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Mid-Cap Growth +.4%

Sector Outperformers:

• 1) Homebuilders +1.3% 2) Construction +1.1% 3) Disk Drives +.8%

Stocks Rising on Unusual Volume:

• ULTA, RMP, WLDN, CMTL, CTRN, GCO, FIZZ, BP, MTN, FRPT, ATRA, HZN, MOMO, CYOU, PANW, ZGNX, CMCM, BPT, HIBB, CORT, EPZM, PII, BKE, ATSG, BPMC and JBLU

Stocks With Unusual Call Option Activity:

• 1) SIG 2) ATW 3) TPX 4) MO 5) ULTA

Stocks With Most Positive News Mentions:

• 1) INAP 2) SHLD 3) ICLD 4) LHCG 5) TTPH

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Morning Market Internals

NYSE Composite Index:

• Volume Running -7.7% Below 100-Day Average
• 9 Sectors Rising, 1 Sector Declining
• 68.4% of Issues Advancing, 27.8% Declining
• 59 New 52-Week Highs, 29 New Lows
• 53.8% of Issues Above 200-day Moving Average
• Average 14-Day RSI 35.7%
• Vix 11.6 -5.8%
• Total Put/Call .72 -35.7%
• TRIN/Arms .97 +57.3%