Stocks Rising into Final Hour on Central Bank Stimulus Hopes, Euro Bounce, Short-Covering, Commodity/Tech Sector Strength

Today's Market Take:

Broad Market Tone:

• Advance/Decline Line: About Even
  

• Sector Performance: Most Sectors Rising
  

• Volume: Below Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• VIX 12.98 -1.59%

• ISE Sentiment Index 133.0 +11.76%

• Total Put/Call .86 -5.49%

• NYSE Arms .79 +27.62%

Credit Investor Angst:

• North American Investment Grade CDS Index 84.74 -.88%

• European Financial Sector CDS Index 168.60 +.30%

• Western Europe Sovereign Debt CDS Index 102.33 -.98%

• Emerging Market CDS Index 236.85 -1.47%

• 2-Year Swap Spread 14.5 -.25 bp

• TED Spread 21.75 unch.

• 3-Month EUR/USD Cross-Currency Basis Swap -16.25 +.75 bp

Economic Gauges:

• 3-Month T-Bill Yield .06% unch.

• Yield Curve 151.0 unch.

• China Import Iron Ore Spot $139.10/Metric Tonne +1.09%

• Citi US Economic Surprise Index 4.50 +1.6 points

• 10-Year TIPS Spread 2.45 -1 bp

Overseas Futures:

• Nikkei Futures: Indicating +182 open in Japan

• DAX Futures: Indicating +32 open in Germany

Portfolio: 

• Higher: On gains in my tech/medical/biotech sector longs

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 50% Net Long