Wednesday, November 07, 2012

Stocks Falling into Final Hour on US Election Pessimism, US Fiscal Cliff Fears, Global Growth Worries, Rising Eurozone Debt Angst

 Broad Market Tone:
  • Advance/Decline Line: Substantially Lower
  • Sector Performance: Almost Every Sector Declining
  • Volume: Slightly Above Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 18.87 +7.34%
  • ISE Sentiment Index 83.0 -45.75%
  • Total Put/Call 1.23 +29.47%
  • NYSE Arms 1.61 +190.0%
Credit Investor Angst:
  • North American Investment Grade CDS Index 99.42 bps +3.26%
  • European Financial Sector CDS Index 174.55 bps +3.57%
  • Western Europe Sovereign Debt CDS Index 111.18 bps -.03%
  • Emerging Market CDS Index 231.80 bps +1.68%
  • 2-Year Swap Spread 10.25 -.75 basis point
  • TED Spread 21.75 -.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -25.5 +.25 unch.
Economic Gauges:
  • 3-Month T-Bill Yield .09% unch.
  • Yield Curve 137.0 -8 basis points
  • China Import Iron Ore Spot $121.60/Metric Tonne +.41%
  • Citi US Economic Surprise Index 50.50 -.2 point
  • 10-Year TIPS Spread 2.47 -2 basis points
Overseas Futures:
  • Nikkei Futures: Indicating -100 open in Japan
  • DAX Futures: Indicating +38 open in Germany
Portfolio:
  • Lower: On losses in my tech, biotech, medical and retail sector longs
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges and added to my (EEM) short
  • Market Exposure: Moved to 25% Net Long

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