Tuesday, August 14, 2012

Stocks Lower into Final Hour on Rising Global Growth Fears, Diminishing Global Central Bank Stimulus Hopes, High Food/Energy Prices, Profit-Taking


Broad Market Tone:

  • Advance/Decline Line: Lower
  • Sector Performance: Most Sectors Declining
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • VIX 14.94 +9.05%
  • ISE Sentiment Index 87.0 -13.86%
  • Total Put/Call .82 +9.33%
  • NYSE Arms 1.20 +11.58%
Credit Investor Angst:
  • North American Investment Grade CDS Index 102.90 bps +.19%
  • European Financial Sector CDS Index 239.34 bps -3.34%
  • Western Europe Sovereign Debt CDS Index 241.65 -2.41%
  • Emerging Market CDS Index 250.01 +.24%
  • 2-Year Swap Spread 20.0 unch.
  • TED Spread 33.5 -.75 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -35.0 +1.75 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .10% +1 basis point
  • Yield Curve 145.0 +6 basis points
  • China Import Iron Ore Spot $113.30/Metric Tonne +.35%
  • Citi US Economic Surprise Index -12.10 +7.6 points
  • 10-Year TIPS Spread 2.27 +2 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +15 open in Japan
  • DAX Futures: Indicating -18 open in Germany
Portfolio:
  • Higher: On gains in my Medical, Retail, Biotech and Tech sector longs
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges, then covered some of them
  • Market Exposure: 50% Net Long

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