Stocks Slightly Lower into Final Hour on Rising Global Growth Fears, Surging Eurozone Debt Angst, High Food/Energy Prices, US "Fiscal Cliff" Worries

Broad Market Tone:

• Advance/Decline Line: Lower
  
• Sector Performance: Most Sectors Declining
  
• Volume: Light
  
• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• VIX 14.95 -2.2%
  
• ISE Sentiment Index 91.0 -38.10%
  
• Total Put/Call 1.02 +17.24%
  
• NYSE Arms .91 +18.12%
  

Credit Investor Angst:

• North American Investment Grade CDS Index 103.33 bps +.36%
  
• European Financial Sector CDS Index 247.11 bps +1.57%
  
• Western Europe Sovereign Debt CDS Index 247.03 +3.33%
  
• Emerging Market CDS Index 249.91 +.91%
  
• 2-Year Swap Spread 20.50 -.25 basis point
  
• TED Spread 34.0 +1.5 basis points
  
• 3-Month EUR/USD Cross-Currency Basis Swap -37.50 -3.0 basis points
  

Economic Gauges:

• 3-Month T-Bill Yield .10% -1 basis point
  
• Yield Curve 139.0 -3 basis points
  
• China Import Iron Ore Spot $113.80/Metric Tonne -.87%
  
• Citi US Economic Surprise Index -20.90 +.4 point
  
• 10-Year TIPS Spread 2.26 -3 basis points
  

Overseas Futures:

• Nikkei Futures: Indicating -7 open in Japan
• DAX Futures: Indicating +5 open in Germany
  

Portfolio:

• Slightly Higher: On gains in my Medical and Tech sector longs
  
• Disclosed Trades: Added to my (IWM)/(QQQ) hedges and added to my (EEM) short, then covered some of them
  
• Market Exposure: 50% Net Long