Thursday, May 10, 2012

Stocks Slightly Higher into Final Hour on Less Eurozone Debt Angst, Short-Covering, More Financial Sector Optimism, Bargain-Hunting


Broad Market Tone:

  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Slightly Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • VIX 18.89 -5.98%
  • ISE Sentiment Index 139.0 +39.0%
  • Total Put/Call .97 -2.02%
  • NYSE Arms .87 -15.06%
Credit Investor Angst:
  • North American Investment Grade CDS Index 102.48 -1.0%
  • European Financial Sector CDS Index 263.95 +1.98%
  • Western Europe Sovereign Debt CDS Index 283.06 -1.45%
  • Emerging Market CDS Index 258.99 -1.04%
  • 2-Year Swap Spread 31.75 -1.25 basis points
  • TED Spread 37.50 -.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -44.0 +4.25 basis points
Economic Gauges:
  • 3-Month T-Bill Yield .09% unch.
  • Yield Curve 162.0 +5 basis points
  • China Import Iron Ore Spot $139.30/Metric Tonne -1.42%
  • Citi US Economic Surprise Index -25.60 -4.0 points
  • 10-Year TIPS Spread 2.17 +1 basis point
Overseas Futures:
  • Nikkei Futures: Indicating a +45 open in Japan
  • DAX Futures: Indicating -3 open in Germany
Portfolio:
  • Slightly Lower: On losses in my Tech sector longs and index hedges
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges, added to my (EEM) short
  • Market Exposure: Moved to 25% Net Long

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