Thursday, November 06, 2014

Stocks Rising Slightly into Final Hour on Central Bank Hopes, Yen Weakness, Short-Covering, Road&Rail/Retail Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Slightly Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 14.19 +.14%
  • Euro/Yen Carry Return Index 148.67 -.54%
  • Emerging Markets Currency Volatility(VXY) 8.41 +2.94%
  • S&P 500 Implied Correlation 47.04 -3.61%
  • ISE Sentiment Index 104.0 +20.93%
  • Total Put/Call .89 +1.14%
  • NYSE Arms .89 +17.40% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 65.02 +.29%
  • European Financial Sector CDS Index 66.50 -2.42%
  • Western Europe Sovereign Debt CDS Index 31.23 -3.31%
  • Asia Pacific Sovereign Debt CDS Index 64.05 +.83%
  • Emerging Market CDS Index 266.80 +3.46%
  • China Blended Corporate Spread Index 322.12 -.26%
  • 2-Year Swap Spread 21.5 +.25 basis point
  • TED Spread 21.25 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -12.0 -1.0 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .02% unch.
  • Yield Curve 184.0 +2.0 basis points
  • China Import Iron Ore Spot $75.38/Metric Tonne -1.41%
  • Citi US Economic Surprise Index 16.20 +1.0 point
  • Citi Eurozone Economic Surprise Index -31.40 -2.0 points
  • Citi Emerging Markets Economic Surprise Index -13.10 +1.8 points
  • 10-Year TIPS Spread 1.94 +1.0 basis point
Overseas Futures:
  • Nikkei Futures: Indicating +168 open in Japan
  • DAX Futures: Indicating +5 open in Germany
Portfolio: 
  • Higher: On gains in my retail/biotech sector longs and emerging markets shorts
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

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