Tuesday, November 04, 2014

Stocks Slightly Lower into Final Hour on Russia/Ukraine Tensions, ECB Infighting, Global Growth Fears, Commodity/Gaming Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Most Sectors Declining
  • Volume: Slightly Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 15.11 +2.58%
  • Euro/Yen Carry Return Index 148.89 +.19%
  • Emerging Markets Currency Volatility(VXY) 7.97 +.25%
  • S&P 500 Implied Correlation 54.53 +1.67%
  • ISE Sentiment Index 116.0 +34.90%
  • Total Put/Call .92 +10.84%
  • NYSE Arms 1.39 +32.29% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 64.95 +1.12%
  • European Financial Sector CDS Index 68.47 +2.32%
  • Western Europe Sovereign Debt CDS Index 32.36 +1.54%
  • Asia Pacific Sovereign Debt CDS Index 63.30 +2.15%
  • Emerging Market CDS Index 252.39 +1.84%
  • China Blended Corporate Spread Index 320.27 -.64%
  • 2-Year Swap Spread 20.5 -.25 basis point
  • TED Spread 22.25 -.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -11.0 -.5 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .02% +2.0 basis points
  • Yield Curve 182.0 -1.0 basis point
  • China Import Iron Ore Spot $78.01/Metric Tonne -.79%
  • Citi US Economic Surprise Index 16.40 -5.7 points
  • Citi Eurozone Economic Surprise Index -28.0 +.8 point
  • Citi Emerging Markets Economic Surprise Index -14.70 +.5 point
  • 10-Year TIPS Spread 1.92 -1.0 basis point
Overseas Futures:
  • Nikkei Futures: Indicating +93 open in Japan
  • DAX Futures: Indicating +37 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech sector longs and index hedges
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

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