ARCHIVED BLOG POSTS
2010
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Volatility has become normal for stocks as they swing up and down during the day. Still moping about Fed comments regarding an increasingly slow advance in the economy, futures handicappers set the tone for a negative open. What a surprise, stocks open up an took an extremely stocatto rollercoa...
09/22/2010
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Mortgage backed securities (MBS) closed up 6 basis points today at 100.66 having shot up 44 basis points during the day, bounced off resistance and settled just above the double support of the 25 and 50 day moving averages. Since they came to rest significantly below the high of the day, tomorro...
09/22/2010
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The Dow was truly tempest tossed today spending much of the day just under yesterday's close. Housing starts came in better than expected as did building permits. The Fed projected low inflation for months to come while the economy slowly plods ahead. Stocks surged on the inflation news tradin...
09/21/2010
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Mortgage backed securities (MBS) closed up 72 basis points today at 100.59 having smashed through two tough layers of resistance offered by the 50 and 25 day moving averages. The Fed minutes came out keeping the verbiage that they intend to keep Fed rates low for an "extended" period of time. A...
09/21/2010
Word that the "great" recession had actually ended back in June of 2009 sent stocks soaring today. Although I am sure the news did little to buoy the spirits of those who lost their jobs and are still unemployed or under-employed, stock traders feasted on the news. Having passed the 200 day mov...
09/20/2010
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Mortgage backed securities (MBS) closed up 44 basis points today at 99.88 coming to rest just below double resistance offered by the 50 and 25 day moving averages. Once again today, MBS bonds staged a respectable rally in the face of an extremely strong advance in stocks. News of possible exten...
09/20/2010
Stock futures began the day in positive territory as Oracle and Reseach in Motion, maker of the Blackberry, released better earnings than the market expected. The Dow spent most of the day right around the breakeven level. Mid-afternoon brought extremely positive new from Caterpillar that their...
09/17/2010
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Mortgage backed securities (MBS) closed down 16 basis points today at 99.44 having headed down nearly to support. Once again today the bond closed at its low for the day and the candle had a long wick. As we saw earlier this week this combination is a harbinger of future negative results. The ...
09/17/2010
A Producver Price Index, which provides a reading on production costs, came in slightly higher than forecast this morning. That was tempered by news that initial job claims dropped another 10,000 this week to 450,000. The Philadelphia Fed number came in negative for the second consecutive month...
09/16/2010
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Mortgage backed securities (MBS) closed down 19 basis points today at 99.59 having fallen below resistance offered by the 50 day moving average and coming to rest just 25 basis points above new support at the close of 7/28. As I had mentioned, the indicators at yesterday's close pointed to lower...
09/16/2010
