Stocks Slightly Higher into Final Hour on Better US Economic Data, Short-Covering, Tech/Biotech Sector Strength

Broad Market Tone:

• Advance/Decline Line: Slightly Higher
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• VIX 15.37 -.90%
  

• ISE Sentiment Index 78.0 -19.59%

• Total Put/Call 1.24 +29.17%

• NYSE Arms 1.02 -5.29%

Credit Investor Angst:

• North American Investment Grade CDS Index 86.47 -1.71%

• European Financial Sector CDS Index 163.68 +4.21%

• Western Europe Sovereign Debt CDS Index 102.83 -.81%

• Emerging Market CDS Index 243.62 -.60%

• 2-Year Swap Spread 13.75 -.25 bp

• TED Spread 18.25 -.25 bp

• 3-Month EUR/USD Cross-Currency Basis Swap -20.25 unch.

Economic Gauges:

• 3-Month T-Bill Yield .10% unch.

• Yield Curve 162.0 -2 bps

• China Import Iron Ore Spot $150.60/Metric Tonne -.73%

• Citi US Economic Surprise Index 7.70 +4.9 points

• 10-Year TIPS Spread 2.54 -1 bp

Overseas Futures:

• Nikkei Futures: Indicating +96 open in Japan

• DAX Futures: Indicating +2 open in Germany

Portfolio: 

• Slightly Higher: On gains in my tech/medical/biotech sector longs
• Disclosed Trades: None
• Market Exposure: 50% Net Long