Tuesday, September 11, 2012

Stocks Rising into Final Hour on Less Eurozone Debt Angst, Global Central Bank Hopes, Short-Covering, Commodity Sector Strength


Broad Market Tone:

  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 16.21 -.43%
  • ISE Sentiment Index 123.0 +5.13%
  • Total Put/Call .75 -3.85%
  • NYSE Arms .85 -40.41%
Credit Investor Angst:
  • North American Investment Grade CDS Index 93.63 bps -1.5%
  • European Financial Sector CDS Index 208.63 bps -2.31%
  • Western Europe Sovereign Debt CDS Index 189.79 -1.57%
  • Emerging Market CDS Index 211.68 -3.44%
  • 2-Year Swap Spread 15.0 -.25 basis point
  • TED Spread 30.25 -.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -22.0 +2.75 basis points
Economic Gauges:
  • 3-Month T-Bill Yield .10% unch.
  • Yield Curve 144.0 +1 basis point
  • China Import Iron Ore Spot $100.20/Metric Tonne +5.47%
  • Citi US Economic Surprise Index 25.10 +6.6 points
  • 10-Year TIPS Spread 2.39 +1 basis point
Overseas Futures:
  • Nikkei Futures: Indicating +9 open in Japan
  • DAX Futures: Indicating -15 open in Germany
Portfolio:
  • Slightly Higher: On gains in my Tech/Medical sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
  • Market Exposure: 50% Net Long

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