Monday, July 08, 2013

Stocks Higher into Final Hour on Less Eurozone Debt Angst, Short-Covering, Technical Buying, Retail/Utilities Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Light
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 14.82 -.47%
  • Euro/Yen Carry Return Index 135.51 +.08%
  • Emerging Markets Currency Volatility(VXY) 10.82 -1.01%
  • S&P 500 Implied Correlation 52.57 -.30%
  • ISE Sentiment Index 87.0 -10.31%
  • Total Put/Call 1.03 +9.57%
  • NYSE Arms .73 +12.30% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 83.59 -3.44%
  • European Financial Sector CDS Index 160.44 -3.01%
  • Western Europe Sovereign Debt CDS Index 96.0 unch.
  • Emerging Market CDS Index 339.58 -2.04%
  • 2-Year Swap Spread 17.25 -.5 bp
  • TED Spread 23.25 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -10.5 +.5 bp
Economic Gauges:
  • 3-Month T-Bill Yield .04% unch.
  • Yield Curve 228.0 -4 bps
  • China Import Iron Ore Spot $121.90/Metric Tonne -.57%
  • Citi US Economic Surprise Index -12.10 +1.9 points
  • Citi Emerging Markets Economic Surprise Index -31.40 +2.9 points
  • 10-Year TIPS Spread 2.08 +1 bp
Overseas Futures:
  • Nikkei Futures: Indicating +215 open in Japan
  • DAX Futures: Indicating +4 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my medical and retail sector longs
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges and then covered some of them
  • Market Exposure: 50% Net Long

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