Wednesday, January 07, 2015

Stocks Surging into Afternoon on US Economic Data, Oil Bounce, Yen Weakness, Homebuilding/Biotech Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Slightly Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 20.36 -3.65%
  • Euro/Yen Carry Return Index 147.48 +.32%
  • Emerging Markets Currency Volatility(VXY) 10.65 -.84%
  • S&P 500 Implied Correlation 66.65 -.95%
  • ISE Sentiment Index 95.0 -4.04%
  • Total Put/Call 1.08 -3.57%
  • NYSE Arms .85 -27.74% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 70.65 -1.31%
  • America Energy Sector High-Yield CDS Index 718.0 +2.65%
  • European Financial Sector CDS Index 71.55 +.06%
  • Western Europe Sovereign Debt CDS Index 29.85 +2.12%
  • Asia Pacific Sovereign Debt CDS Index 72.48 -2.53%
  • Emerging Market CDS Index 378.66 -1.82%
  • China Blended Corporate Spread Index 369.68 +2.96%
  • 2-Year Swap Spread 22.50 -.5 basis point
  • TED Spread 23.25 -.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -14.5 +.25 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .03% +1.0 basis point
  • Yield Curve 136.0 +4.0 basis points
  • China Import Iron Ore Spot $70.96/Metric Tonne -.74%
  • Citi US Economic Surprise Index 29.30 +6.5 points
  • Citi Eurozone Economic Surprise Index 10.60 -.3 point
  • Citi Emerging Markets Economic Surprise Index -12.80 +1.1 points
  • 10-Year TIPS Spread 1.57 -1.0 basis point
Overseas Futures:
  • Nikkei Futures: Indicating +285 open in Japan
  • DAX Futures: Indicating +5 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech/biotech/retail/medical sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
  • Market Exposure: Moved to 50% Net Long

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