ARCHIVED BLOG POSTS
2010
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Early this morning Microsoft and Ford unveiled improved earnings reports and the stage was set for stocks to open in the positive. Fear of the impending results of the stress test on European banks, however, held stocks back in early trading as they advanced meekly as the results approached. Th...
07/23/2010
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Mortgage backed securities closed down 19 basis points today at 101.75 below the formidable double resistance, yet 47 basis points above the 25 day moving average. Stochastic indicators may portend poor days ahead for MBS bonds and certainly indicate a turbulent market on the horizon. There wer...
07/23/2010
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Strong earnings reports from several sectors started the Dow on an upward surge which continued throughout the session. Good economic news from Europe combined with better than expected earnings reports from Microsoft and American Express caused stocks to rally. Legg Mason fund manager Bill Mil...
07/22/2010
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Mortgage backed securities (MBS) closed down 16 basis points today at 101.94 landing just below the double levels of resistance that we broke through yesterday. MBS bonds opened lower and stayed down pretty much all day. Initial home sales came in higher than expected in June. This combinaton...
07/22/2010
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As the second quarter earnings reports continued hitting the street today, stocks were off to a healthly start. Before the market opened Apple and Coca Cola came out with improved earnings. Shortly thereafter Wells Fargo and United Technologies joined the party. But even Morgan Stanley's impre...
07/21/2010
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Mortgage backed securities (MBS) closed up 53 basis points today at 102.09 having smashed through a tough double layer of resistance comprised of recent highs. MBS bonds which normally trend in the opposite direction from stocks, did just that today. The day's major advance had the effect of lo...
07/21/2010
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A poor earnings report from IBM after the market closed yesterday made stock futures harbingers of a negative open. This morning Goldman Sachs reported profits off a steep 82%. In reaction, stocks opened sharply lower falling nearly 150 points early on. Housing starts were off but building per...
07/20/2010
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Mortgage backed securities closed flat today at 101.56 coming to rest just below double resistance offered by the highs of 7/19 and 7/16 of this year. MBS bonds started the day strongly and were up 22 basis points for much of the day before stocks swung into the positive. With such small moveme...
07/20/2010
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After Friday's blood bath at the stock market, traders entered the day hopeful that there would be a sufficient supply of positive earnings reports to keep the Dow in the black. As a result, the Dow opened higher and remained relatively higher. Early in the afternoon word came out that Emirates...
07/19/2010
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Mortgage backed securities (MBS) closed down 37 basis today at 101.53 after trading as high as 102.06. MBS bonds made a strong run at two tough levels of resistance before being rebuffed and moving sharply lower. With no economic reports scheduled for release today, bonds reacted primarily to ...
07/19/2010
