Stocks Higher into Final Hour on Buyout Speculation, Earnings Optimism, Less Eurozone Debt Angst, Energy/Tech Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Mixed
  

• Volume: Around Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 11.19 -6.44%

• Euro/Yen Carry Return Index 143.53 -.35%

• Emerging Markets Currency Volatility(VXY) 5.87 -1.51%

• S&P 500 Implied Correlation 48.52 -4.30%

• ISE Sentiment Index 170.0 +78.95%

• Total Put/Call .83 +1.22%

• NYSE Arms .69 -11.22% 

Credit Investor Angst:

• North American Investment Grade CDS Index 56.88 -1.23%

• European Financial Sector CDS Index 68.68 -5.96%

• Western Europe Sovereign Debt CDS Index 35.77 -1.68%
• Asia Pacific Sovereign Debt CDS Index 70.64 -1.15%

• Emerging Market CDS Index 231.96 -.56%

• China Blended Corporate Spread Index 304.68 +.38%
• 2-Year Swap Spread 18.25 unch.

• TED Spread 21.25 -.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -10.75 unch.

Economic Gauges:

• 3-Month T-Bill Yield .02% unch.

• Yield Curve 205.0 -2.0 basis point

• China Import Iron Ore Spot $98.0/Metric Tonne unch.

• Citi US Economic Surprise Index -13.0 +2.7 points

• Citi Emerging Markets Economic Surprise Index -1.60 +2.2 points

• 10-Year TIPS Spread 2.22 -2.0 basis points

Overseas Futures:

• Nikkei Futures: Indicating +86 open in Japan

• DAX Futures: Indicating +3 open in Germany

Portfolio: 

• Slightly Higher: On gains in my tech medical sector longs

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 50% Net Long