Friday, June 07, 2013

Stocks Surging into Final Hour on Central Bank Hopes, Nikkei Bounce, Short-Covering, Financial/Transport Sector Strength

Today's Market Take:

Broad Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Light
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • VIX 15.27 -8.18%
  • ISE Sentiment Index 78.0 -21.21%
  • Total Put/Call 1.16 -4.13%
  • NYSE Arms .90 +39.83%
Credit Investor Angst:
  • North American Investment Grade CDS Index 81.11 -3.31%
  • European Financial Sector CDS Index 152.23 -7.51%
  • Western Europe Sovereign Debt CDS Index 87.0 +3.0%
  • Emerging Market CDS Index 299.99 -1.7%
  • 2-Year Swap Spread 17.25 unch.
  • TED Spread 23.5 +.75 bp
  • 3-Month EUR/USD Cross-Currency Basis Swap -12.5 +.25 bp
Economic Gauges:
  • 3-Month T-Bill Yield .04% -1 bp
  • Yield Curve 186.0 +7 bps
  • China Import Iron Ore Spot $110.90/Metric Tonne -2.63%
  • Citi US Economic Surprise Index -32.30 -3.3 points
  • 10-Year TIPS Spread 2.14 +1 bp
Overseas Futures:
  • Nikkei Futures: Indicating +383 open in Japan
  • DAX Futures: Indicating -8 open in Germany
Portfolio: 
  • Higher: On gains in my biotech/medical/retail/tech sector longs and emerging markets shorts
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
  • Market Exposure: 50% Net Long

No comments: