Friday, August 24, 2012

Stocks Reversing Higher into Final Hour on Global Central Bank Stimulus/Action Hopes, Short-Covering, Investor Performance Angst


Broad Market Tone:

  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Light
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • VIX 15.47 -3.07%
  • ISE Sentiment Index 120.0 +29.03%
  • Total Put/Call .84 -8.7%
  • NYSE Arms .91 -45.55%
Credit Investor Angst:
  • North American Investment Grade CDS Index 101.11 bps -.65%
  • European Financial Sector CDS Index 249.56 bps +2.02%
  • Western Europe Sovereign Debt CDS Index 233.98 +2.03%
  • Emerging Market CDS Index 250.30 +.47%
  • 2-Year Swap Spread 18.25 +.5 basis point
  • TED Spread 33.25 +.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -33.5 unch.
Economic Gauges:
  • 3-Month T-Bill Yield .09% -1 basis point
  • Yield Curve 141.0 +1 basis point
  • China Import Iron Ore Spot $99.40/Metric Tonne -.20%
  • Citi US Economic Surprise Index -9.30 +4.4 points
  • 10-Year TIPS Spread 2.30 unch.
Overseas Futures:
  • Nikkei Futures: Indicating +25 open in Japan
  • DAX Futures: Indicating -15 open in Germany
Portfolio:
  • Higher: On gains in my Retail/Medical/Biotech/Tech sector longs and Emerging Markets shorts
  • 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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