Tuesday, May 28, 2013

Stocks Rising into Final Hour on Less Eurozone Debt Angst, US Economic Data, Short-Covering, Financial/Healthcare Sector Strength

Broad Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Light
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 14.38 +2.79%
  • ISE Sentiment Index 72.0 +2.86%
  • Total Put/Call 1.02 -19.69%
  • NYSE Arms .74 -36.72%
Credit Investor Angst:
  • North American Investment Grade CDS Index 75.25 -.73%
  • European Financial Sector CDS Index 136.82 -4.11%
  • Western Europe Sovereign Debt CDS Index 81.08 -1.12%
  • Emerging Market CDS Index 263.66 +1.42%
  • 2-Year Swap Spread 17.50 +1.5 bps
  • TED Spread 23.75 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -14.25 -.25 bp
Economic Gauges:
  • 3-Month T-Bill Yield .04% unch.
  • Yield Curve 186.0 +10 bps
  • China Import Iron Ore Spot $117.80/Metric Tonne -2.56%
  • Citi US Economic Surprise Index -14.30 +1.0 point
  • 10-Year TIPS Spread 2.27 +2 bps
Overseas Futures:
  • Nikkei Futures: Indicating +139 open in Japan
  • DAX Futures: Indicating -13 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my medical/tech/biotech sector longs 
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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