Thursday, July 24, 2014

Stocks Slightly Lower into Final Hour on Global Growth Worries, Russia-Ukraine Tensions, Technical Selling, Homebuilding/Oil Service Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Mixed
  • Volume: Slightly Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 11.82 +2.60%
  • Euro/Yen Carry Return Index 143.11 +.31%
  • Emerging Markets Currency Volatility(VXY) 5.81 +.17%
  • S&P 500 Implied Correlation 55.12 +3.14%
  • ISE Sentiment Index 93.0 -39.22%
  • Total Put/Call .90 +20.0%
  • NYSE Arms .68 -47.36% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 58.69 +.47%
  • European Financial Sector CDS Index 66.30 -.42%
  • Western Europe Sovereign Debt CDS Index 34.86 -.56%
  • Asia Pacific Sovereign Debt CDS Index 69.84 -.39%
  • Emerging Market CDS Index 239.69 +.25%
  • China Blended Corporate Spread Index 303.44 -.12%
  • 2-Year Swap Spread 20.25 +.75 basis point
  • TED Spread 21.5 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -6.5 +.75 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .02% unch.
  • Yield Curve 202.0 +3.0 basis points
  • China Import Iron Ore Spot $93.60/Metric Tonne -.74%
  • Citi US Economic Surprise Index -26.0 -2.7 points
  • Citi Emerging Markets Economic Surprise Index -.7 +2.3 points
  • 10-Year TIPS Spread 2.24 +3.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +80 open in Japan
  • DAX Futures: Indicating -12 open in Germany
Portfolio: 
  • Higher: On gains in my retail/tech sector longs
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

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