Stocks Falling into Final Hour on Rising Eurozone Debt Angst, Rising Global Growth Fears, Technical Selling, Homebuilder/REIT Sector Weakness

Broad Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Below Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• VIX 14.76 +1.93%

• ISE Sentiment Index 98.0 +36.11%

• Total Put/Call .82 -14.58%

• NYSE Arms .44 -39.64%

Credit Investor Angst:

• North American Investment Grade CDS Index 76.65 +1.07%

• European Financial Sector CDS Index 142.98 +4.49%

• Western Europe Sovereign Debt CDS Index 82.0 +1.13%

• Emerging Market CDS Index 267.18 +1.71%

• 2-Year Swap Spread 16.25 -1.25 bps

• TED Spread 24.0 +.25 bp

• 3-Month EUR/USD Cross-Currency Basis Swap -14.5 -.25 bp

Economic Gauges:

• 3-Month T-Bill Yield .04% unch.

• Yield Curve 182.0 -4 bps

• China Import Iron Ore Spot $112.90/Metric Tonne -4.16%

• Citi US Economic Surprise Index -15.50 -1.2 points

• 10-Year TIPS Spread 2.21 -6 bps

Overseas Futures:

• Nikkei Futures: Indicating -306 open in Japan

• DAX Futures: Indicating +21 open in Germany

Portfolio: 

• Slightly Lower: On losses in my medical/biotech and retail sector longs

• Disclosed Trades: None

• Market Exposure: 50% Net Long