Wednesday, March 27, 2013

Stocks Slightly Lower into Final Hour on Surging Eurozone Debt Angst, Rising Global Growth Fears, Technical Selling, Financial/Gaming Sector Weakness

Today's Market Take:

Broad Market Tone:
  • Advance/Decline Line: Modestly Lower
  • Sector Performance: Mixed
  • Volume: Light
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 13.02 +1.96%
  • ISE Sentiment Index 110.0 +17.02%
  • Total Put/Call .93 +19.23%
  • NYSE Arms .96 +23.05%
Credit Investor Angst:
  • North American Investment Grade CDS Index 92.48 +2.15%
  • European Financial Sector CDS Index 199.75 +5.25%
  • Western Europe Sovereign Debt CDS Index 103.82 +3.30%
  • Emerging Market CDS Index 267.55 +2.76%
  • 2-Year Swap Spread 17.75 -.5 bp
  • TED Spread 20.25 -1.5 bps
  • 3-Month EUR/USD Cross-Currency Basis Swap -20.75 -.75 bp
Economic Gauges:
  • 3-Month T-Bill Yield .08% +1 bp
  • Yield Curve 160.0 -6 bps
  • China Import Iron Ore Spot $137.40/Metric Tonne +.22%
  • Citi US Economic Surprise Index 25.10 unch.
  • 10-Year TIPS Spread 2.52 -2 bps
Overseas Futures:
  • Nikkei Futures: Indicating +57 open in Japan
  • DAX Futures: Indicating +25 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech, biotech and medical sector longs
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

1 comment:

Anonymous said...

what would make you move to 100% long, thanks!