Tuesday, February 11, 2014

Stocks Surging into Final Hour on Less Eurozone/Emerging Markets Debt Angst, Yen Weakness, Diminished US Debt Ceiling Worries, Biotech/Commodity Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Substantially Higher
  • Sector Performance: Almost Every Sector Rising
  • Volume: Slightly Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 14.32 -6.16%
  • Euro/Yen Carry Return Index 146.02 +.33%
  • Emerging Markets Currency Volatility(VXY) 9.13 -1.83%
  • S&P 500 Implied Correlation 51.52 -1.62%
  • ISE Sentiment Index 97.0 -23.62%
  • Total Put/Call .89 -4.30%
  • NYSE Arms .72 -54.50% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 65.07 -3.93%
  • European Financial Sector CDS Index 89.54 -5.41%
  • Western Europe Sovereign Debt CDS Index 53.0 unch.
  • Asia Pacific Sovereign Debt CDS Index 106.48 -1.96%
  • Emerging Market CDS Index 319.93 -2.79%
  • China Blended Corporate Spread Index 361.71 -.16%
  • 2-Year Swap Spread 12.25 +.25 basis point
  • TED Spread 19.0 +1.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -4.25 -.25 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .05% -1.0 basis point
  • Yield Curve 239.0 +2.0 basis points
  • China Import Iron Ore Spot $120.0/Metric Tonne -.66%
  • Citi US Economic Surprise Index 25.70 +1.1 point
  • Citi Emerging Markets Economic Surprise Index 13.10 +.7 point
  • 10-Year TIPS Spread 2.17 -1.0 basis point
Overseas Futures:
  • Nikkei Futures: Indicating +230 open in Japan
  • DAX Futures: Indicating +25 open in Germany
Portfolio: 
  • Higher: On gains in my tech/medical/biotech/retail sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 75% Net Long

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