Tuesday, May 01, 2012

Stocks Rising into Final Hour on More US Economic Optimism, Short-Covering, Investor Performance Angst


Broad Market Tone:

  • Advance/Decline Line: Higher
  • Sector Performance: Almost Every Sector Rising
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • VIX 16.26 -5.19%
  • ISE Sentiment Index 142.0 +31.48%
  • Total Put/Call .85 -3.41%
  • NYSE Arms .77 -36.54%
Credit Investor Angst:
  • North American Investment Grade CDS Index 93.55 -1.29%
  • European Financial Sector CDS Index 233.63 -3.34%
  • Western Europe Sovereign Debt CDS Index 275.25 unch.
  • Emerging Market CDS Index 244.59 -2.73%
  • 2-Year Swap Spread 27.75 -1.25 basis points
  • TED Spread 38.5 +1.0 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -45.0 unch.
Economic Gauges:
  • 3-Month T-Bill Yield .08% -1 basis point
  • Yield Curve 169.0 +3 basis points
  • China Import Iron Ore Spot $145.40/Metric Tonne unch.
  • Citi US Economic Surprise Index -12.80 +1.2 points
  • 10-Year TIPS Spread 2.28 +2 basis points
Overseas Futures:
  • Nikkei Futures: Indicating a +54 open in Japan
  • DAX Futures: Indicating +11 open in Germany
Portfolio:
  • Slightly Higher: On gains in my Tech, Medical and Retail sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short, then added them back
  • Market Exposure: 50% Net Long

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