Stocks Surging into Final Hour on Central Bank Hopes, Diminishing Ebola Fears, Earnings Optimism, Healthcare/Energy Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Higher
  

• Sector Performance: Almost Every Sector Rising
  

• Volume: Slightly Below Average

• Market Leading Stocks: Outperforming

Equity Investor Angst:

• Volatility(VIX) 16.63 -10.45%

• Euro/Yen Carry Return Index 141.97 -.71%

• Emerging Markets Currency Volatility(VXY) 8.27 -4.50%

• S&P 500 Implied Correlation 61.13 -7.45%

• ISE Sentiment Index 94.0 -31.39%

• Total Put/Call 1.01 +16.09%

• NYSE Arms 1.08 +21.96% 

Credit Investor Angst:

• North American Investment Grade CDS Index 65.88 -4.96%

• European Financial Sector CDS Index 70.17 -7.35%

• Western Europe Sovereign Debt CDS Index 33.30 -4.30%
• Asia Pacific Sovereign Debt CDS Index 68.36 -6.77%

• Emerging Market CDS Index 262.02 -.20%

• China Blended Corporate Spread Index 344.71 unch.
• 2-Year Swap Spread 25.5 -.75 basis point

• TED Spread 22.75 +2.25 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -8.25 +1.5 basis points

Economic Gauges:

• 3-Month T-Bill Yield .01% -1.0 basis point

• Yield Curve 186.0 +3.0 basis points

• China Import Iron Ore Spot $81.83/Metric Tonne +.28%

• Citi US Economic Surprise Index 20.80 -.4 point
• Citi Eurozone Economic Surprise Index -54.7 -.6 point

• Citi Emerging Markets Economic Surprise Index -20.60 +1.0 point

• 10-Year TIPS Spread 1.91 unch.

Overseas Futures:

• Nikkei Futures: Indicating +259 open in Japan

• DAX Futures: Indicating +13 open in Germany

Portfolio: 

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

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 75% Net Long