Friday, May 30, 2014

Stocks Slightly Lower into Final Hour on Rising Global Growth Fears, Technical Selling, Profit-Taking, Metals&Mining/Homebuilding Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Most Sectors Declining
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 11.52 -.43%
  • Euro/Yen Carry Return Index 144.87 +.25%
  • Emerging Markets Currency Volatility(VXY) 6.89 -.58%
  • S&P 500 Implied Correlation 55.06 +1.21%
  • ISE Sentiment Index 103.0 +18.39%
  • Total Put/Call .88 +27.54%
  • NYSE Arms 1.13 +34.91% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 62.32 +.18%
  • European Financial Sector CDS Index 72.79 +.37%
  • Western Europe Sovereign Debt CDS Index 34.85 -.01%
  • Asia Pacific Sovereign Debt CDS Index 79.21 -1.14%
  • Emerging Market CDS Index 246.83 +.29%
  • China Blended Corporate Spread Index 328.99 -5.65%
  • 2-Year Swap Spread 14.0 +1.0 basis point
  • TED Spread 19.75 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -8.75 -.5 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .03% unch.
  • Yield Curve 210.0 +2.0 basis points
  • China Import Iron Ore Spot $91.80/Metric Tonne -4.08%
  • Citi US Economic Surprise Index-4.80 -1.9 points
  • Citi Emerging Markets Economic Surprise Index -20.40 -1.1 points
  • 10-Year TIPS Spread 2.21 -2.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +85 open in Japan
  • DAX Futures: Indicating +4 open in Germany
Portfolio: 
  • Higher: On gains in my medical/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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