ARCHIVED BLOG POSTS
2010
In addition to the crippling news from the housing market, stocks had to deal with more news that economies around the world are losing any momentum the may have gained. The Dow was barely able to remain above the 10,000 level as a decline of 133 points brought the average to rest at 10,040. It...
08/24/2010
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Mortgage backed securities (MBS) closed up 19 basis points today closing at 100.66 just 15 basis points below resistance offered by the high watermark close of 8/16. Early on MBS bonds made a run at resistance but once they bounced down a bit they staged a minor comeback. Existing home sales we...
08/24/2010
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As August comes to a close, trading pits are lightly staffed and volume is extremely low. These conditions can lead to volatility, as small trades can move the market. The market jumped to attention early this morning as news of mergers and acquisitions was on the street. The Dow climbed early...
08/23/2010
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Mortgage backed securities (MBS) closed up 6 basis points today closing at 100.38 midway between resistance offered by recent high closes and support at the 25 day moving average. Despite Friday's bearish signal and without the benefit of any economic reporting, MBS bonds held their ground today...
08/23/2010
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With commodities and bonds heading southward today, stocks decided to join the party. The Labor Department said that improvement in unemployment was less widespread across the country than it had been over the previous quarter. Stocks began the day down, were at one point down over 100 points a...
08/20/2010
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Mortgage backed securities (MBS) closed down 38 basis points today at 100.31 closing below resistance offered by yesterday's high and above support at the 25 day moving average. Japanese candlsticks are formed in a Bearish Dark Cloud Cover which ususually signals gloomy days ahead for MBS bonds....
08/20/2010
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Whether uttered in Hamlet or by Jacob Marley in the Christmas Carol, "Woe is me" is not a good thing and it may well have been the motto of Wall Street traders today. A painful 500,000 new jobless claims were announced today. That, along with a shockingly low Philadelhia Fed number, sent stocks...
08/19/2010
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Mortgage backed securities (MBS) closed up a whopping 50 basis points today at 100.69 coming to rest wedged between two elements of what had been a double layer of resistance. Remeber that every 50 basis points in MBS pricing equates to a .125% change in interest rates. Because bonds and rates ...
08/19/2010
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Stocks posted a dizzying day of ups and downs culminating wearingly coming to rest up 9 points. They tripped at the open falling more than 40 points, rallied in the afternoon after Target predicted a strong second half of the year and slowed late as a tech stock rally fizzled. Tomorrow's announ...
08/18/2010
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Mortgage backed seccurities (MBS) closed down 22 basis points today at 100.19 marking the third straight day of negative closes. It seems the necessity to use MBS bonds as a safe haven is waning in the eyes of global investors. Despite the loss, they remained above support offered by the 25 Day...
08/18/2010
