Monday, March 25, 2013

Stocks Falling into Final Hour on Surging Eurozone Debt Angst, Global Growth Fears, Technical Selling, Homebuilding/Transport Sector Weakness

Today's Market Take:

Broad Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Almost Every Sector Declining
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 14.15 +4.27%
  • ISE Sentiment Index 99.0 +5.32%
  • Total Put/Call .89 -4.38%
  • NYSE Arms 1.59 +85.30%
Credit Investor Angst:
  • North American Investment Grade CDS Index 91.11 +.80%
  • European Financial Sector CDS Index 189.24 +7.3%
  • Western Europe Sovereign Debt CDS Index 100.67 -.27%
  • Emerging Market CDS Index 256.12 +.09%
  • 2-Year Swap Spread 17.75 unch.
  • TED Spread 22.25 +.5 bp
  • 3-Month EUR/USD Cross-Currency Basis Swap -20.75 -.25 bp
Economic Gauges:
  • 3-Month T-Bill Yield .06% -1 bp
  • Yield Curve 167.0 +1 bp
  • China Import Iron Ore Spot $136.0/Metric Tonne +.52%
  • Citi US Economic Surprise Index 30.20 +1.1 points
  • 10-Year TIPS Spread 2.54 unch.
Overseas Futures:
  • Nikkei Futures: Indicating -120 open in Japan
  • DAX Futures: Indicating +7 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my tech, biotech sector longs and emerging markets shorts
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 25% Net Long

No comments: