Stocks Higher into Final Hour on Less Eurozone Debt Angst, Central Bank Hopes, Short-Covering, Healthcare/Commodity Sector Strength

Broad Market Tone:

• Advance/Decline Line: Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Light

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• VIX 13.51 -.73%

• ISE Sentiment Index 160.0 +41.69%

• Total Put/Call .89 unch.

• NYSE Arms .71 -44.13%

Credit Investor Angst:

• North American Investment Grade CDS Index 76.18 -2.6%

• European Financial Sector CDS Index 152.99 -3.94%

• Western Europe Sovereign Debt CDS Index 94.33 -.97%

• Emerging Market CDS Index 233.15 -2.61%

• 2-Year Swap Spread 13.75 -.5 bp

• TED Spread 22.75 -.25 bp

• 3-Month EUR/USD Cross-Currency Basis Swap -18.0 -.25 bp

Economic Gauges:

• 3-Month T-Bill Yield .05% unch.

• Yield Curve 146.0 +1 bp

• China Import Iron Ore Spot $134.10/Metric Tonne unch.

• Citi US Economic Surprise Index -5.3 +7.1 points

• 10-Year TIPS Spread 2.36 -2 basis points

Overseas Futures:

• Nikkei Futures: Indicating +46 open in Japan

• DAX Futures: Indicating +48 open in Germany

Portfolio: 

• Higher: On gains in my retail/biotech/tech/medical sector longs

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back

• Market Exposure: 50% Net Long