Stocks Falling into Final Hour on Growing Global Growth Fears, Escalating Mideast Tensions, Increasing Ebola Outbreak Concerns, Technology/Transport Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Almost Every Sector Declining
  

• Volume: Around Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 16.88 +7.89%

• Euro/Yen Carry Return Index 142.96 -.56%

• Emerging Markets Currency Volatility(VXY) 7.84 +.26%

• S&P 500 Implied Correlation 58.04 +7.04%

• ISE Sentiment Index 79.0 -43.17%

• Total Put/Call .89 -8.25%

• NYSE Arms 1.01 +14.67% 

Credit Investor Angst:

• North American Investment Grade CDS Index 69.07 +1.94%

• European Financial Sector CDS Index 66.43 +4.81%

• Western Europe Sovereign Debt CDS Index 27.07 -.48%
• Asia Pacific Sovereign Debt CDS Index 67.61 -1.94%

• Emerging Market CDS Index 262.60 +1.42%

• China Blended Corporate Spread Index 319.36 n/a
• 2-Year Swap Spread 26.75 -1.0 basis point

• TED Spread 22.25 -.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -9.0 +1.0 basis point

Economic Gauges:

• 3-Month T-Bill Yield .01% unch.

• Yield Curve 184.0 -5.0 basis points

• China Import Iron Ore Spot $77.50/Metric Tonne n/a

• Citi US Economic Surprise Index 17.90 +.3 point

• Citi Emerging Markets Economic Surprise Index -22.30 -4.1 points

• 10-Year TIPS Spread 1.92 -2.0 basis points

Overseas Futures:

• Nikkei Futures: Indicating -183 open in Japan

• DAX Futures: Indicating -30 open in Germany

Portfolio: 

• Slightly Lower: On losses in my biotech/retail/medical/tech sector longs 

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

• Market Exposure: Moved to 25% Net Long