Friday, October 30, 2015

Stocks Slightly Lower into Afternoon on Earnings Outlook Concerns, Technical Selling, Profit-Taking, Financial/Road & Rail Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Lower
  • Sector Performance: Mixed
  • Volume: Slightly Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 14.26 -2.4%
  • Euro/Yen Carry Return Index 138.81 -.07%
  • Emerging Markets Currency Volatility(VXY) 10.82 -.37%
  • S&P 500 Implied Correlation 57.25 -2.12%
  • ISE Sentiment Index 82.0 -38.81%
  • Total Put/Call .87 +2.35%
  • NYSE Arms 1.07 -5.11% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 78.40 -.26%
  • America Energy Sector High-Yield CDS Index 1,131.0 +.557%
  • European Financial Sector CDS Index 69.32 -.73%
  • Western Europe Sovereign Debt CDS Index 19.06 +2.53%
  • Asia Pacific Sovereign Debt CDS Index 72.48 -2.61%
  • Emerging Market CDS Index 324.99 -.74%
  • iBoxx Offshore RMB China Corporate High Yield Index 122.65 +.18%
  • 2-Year Swap Spread 11.25 -.75 basis point
  • TED Spread 26.5 -1.75 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -29.25 +1.25 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 71.89 +.28%
  • 3-Month T-Bill Yield .07% +1.0 basis point
  • Yield Curve 142.0 -3.0 basis points
  • China Import Iron Ore Spot $49.83/Metric Tonne +.36%
  • Citi US Economic Surprise Index -12.7 -2.2 points
  • Citi Eurozone Economic Surprise Index 32.7 +7.0 points
  • Citi Emerging Markets Economic Surprise Index -10.50 +2.0 points
  • 10-Year TIPS Spread 1.53 +1.0 basis point
  • # of Months to 1st Fed Rate Hike(Morgan Stanley) 4.07 -.24
Overseas Futures:
  • Nikkei 225 Futures: Indicating -168 open in Japan 
  • China A50 Futures: Indicating -63 open in China
  • DAX Futures: Indicating -3 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my medical/retail sector longs
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 25% Net Long

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