Wednesday, October 17, 2012

Stocks Higher into Final Hour on Falling Eurozone Debt Angst, Short-Covering, Less Economic Pessimism, Financial/Homebuilder Sector Strength

Broad Market Tone:
  • Advance/Decline Line: Modestly Higher
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 15.03 -1.25%
  • ISE Sentiment Index 118.0 -7.09%
  • Total Put/Call .78 -4.88%
  • NYSE Arms .62 -22.05%
Credit Investor Angst:
  • North American Investment Grade CDS Index 89.73 bps -2.70%
  • European Financial Sector CDS Index 153.24 bps -9.89%
  • Western Europe Sovereign Debt CDS Index 104.76 bps -16.27%
  • Emerging Market CDS Index 209.38 bps -1.26%
  • 2-Year Swap Spread 9.0 -.25 basis point
  • TED Spread 21.5 -1.75 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -24.25 +.25 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .11% +2 basis points
  • Yield Curve 151.0 +6 basis points
  • China Import Iron Ore Spot $115.40/Metric Tonne +2.49%
  • Citi US Economic Surprise Index 55.50 +3.1 points
  • 10-Year TIPS Spread 2.48 +2 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +76 open in Japan
  • DAX Futures: Indicating -3 open in Germany
Portfolio:
  • Slightly Lower: On losses in my Medical/Tech sector longs and index hedges
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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