Monday, March 16, 2015

Stocks Surging into Final Hour on Central Bank Hopes, Euro Bounce, Technical Buying, Utility/Biotech Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Modestly Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 15.63 -2.31%
  • Euro/Yen Carry Return Index 134.24 +.87%
  • Emerging Markets Currency Volatility(VXY) 10.86 -1.27%
  • S&P 500 Implied Correlation 59.24 -1.68%
  • ISE Sentiment Index 74.0 -5.13%
  • Total Put/Call .97 -19.83%
  • NYSE Arms .75 -43.91% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 65.25 -.88%
  • America Energy Sector High-Yield CDS Index 753.0 +1.77%
  • European Financial Sector CDS Index 55.75 -.16%
  • Western Europe Sovereign Debt CDS Index 20.82 -1.33%
  • Asia Pacific Sovereign Debt CDS Index 66.20 -.65%
  • Emerging Market CDS Index 421.41 +.45%
  • iBoxx Offshore RMB China Corporates High Yield Index 114.01 +.15%
  • 2-Year Swap Spread 27.0 -.75 basis point
  • TED Spread 25.0 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -20.25 -1.0 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .03% unch.
  • Yield Curve 145.0 -2.0 basis points
  • China Import Iron Ore Spot $57.66/Metric Tonne +2.15%
  • Citi US Economic Surprise Index -63.80 -3.7 points
  • Citi Eurozone Economic Surprise Index 39.6 -4.5 points
  • Citi Emerging Markets Economic Surprise Index 3.80 -1.8 points
  • 10-Year TIPS Spread 1.66 -3.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +189 open in Japan
  • DAX Futures: Indicating +9 open in Germany
Portfolio: 
  • Higher: On gains in my medical/biotech/retail/tech sector longs 
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 75% Net Long

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