Monday, April 09, 2012

Stocks Falling into Final Hour on Less US Economic Optimism, Less Financial Sector Optimism, Rising Global Growth Fears, Profit-Taking


Broad Market Tone:

  • Advance/Decline Line: Substantially Lower
  • Sector Performance: Almost Every Sector Declining
  • Volume: Below Average
  • Market Leading Stocks: Outperforming
Equity Investor Angst:
  • VIX 17.95 +7.49%
  • ISE Sentiment Index 88.0 -10.20%
  • Total Put/Call .97 -3.19%
  • NYSE Arms 1.64 +3.45%
Credit Investor Angst:
  • North American Investment Grade CDS Index 101.23 +2.34%
  • European Financial Sector CDS Index 236.75 +.50%
  • Western Europe Sovereign Debt CDS Index 272.76 +.10%
  • Emerging Market CDS Index 258.95 +1.23%
  • 2-Year Swap Spread 28.75 -.25 basis point
  • TED Spread 39.25 .5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -54.0 unch.
Economic Gauges:
  • 3-Month T-Bill Yield .08% +1 basis point
  • Yield Curve 172.0 -11 basis points
  • China Import Iron Ore Spot $147.60/Metric Tonne unch.
  • Citi US Economic Surprise Index 4.60 -2.3 points
  • 10-Year TIPS Spread 2.23 -5 basis points
Overseas Futures:
  • Nikkei Futures: Indicating a +48 open in Japan
  • DAX Futures: n/a
Portfolio:
  • Slightly Lower: On losses in my Tech, Retail, Medical and Biotech sector longs
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges and to my (EEM) short
  • Market Exposure: Moved to 50% Net Long

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