Friday, June 14, 2013

Stocks Lower into Afternoon on Rising Global Growth Fears, Yen Strength, Technical Selling, Financials/Metals Sector Weakness

Broad Market Tone:
  • Advance/Decline Line: Substantially Lower
  • Sector Performance: Most Sectors Declining
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 17.11 +4.3%
  • ISE Sentiment Index 109.0 -28.8%
  • Total Put/Call 1.21 +24.74%
  • NYSE Arms 1.54 +178.55%
Credit Investor Angst:
  • North American Investment Grade CDS Index 82.67 +.60%
  • European Financial Sector CDS Index 159.69 -2.86%
  • Western Europe Sovereign Debt CDS Index 88.83 -2.38%
  • Emerging Market CDS Index 298.19 -.92%
  • 2-Year Swap Spread 15.75 -.75 bp
  • TED Spread 23.25 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -12.0 +.5 bp
Economic Gauges:
  • 3-Month T-Bill Yield .04% unch.
  • Yield Curve 186.0 -1 bp
  • China Import Iron Ore Spot $113.60/Metric Tonne +1.43%
  • Citi US Economic Surprise Index -29.70 -1.7 points
  • 10-Year TIPS Spread 2.06 -2 bps
Overseas Futures:
  • Nikkei Futures: Indicating -52 open in Japan
  • DAX Futures: Indicating -40 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my tech/biotech/retail sector longs and emerging markets shorts
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 25% Net Long

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