ARCHIVED BLOG POSTS
2011
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Stocks continued there move higher with a solid gain today despite no economic reports coming out and an indication of s flat opening from futures. Troubles in Llbya and Bahrain were not a factor as traders pushed ever upward based on positive feelings about earnings and the econoimy. There was...
02/18/2011
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Mortgage backed securities (MBS) closed up 3 basis points today at 97.56 having trended downward for most of the day prior to crossing into the positive as the session drew to a close. A look at candlstick for the day shows that the bond closed at its high for the session. That is normally a po...
02/18/2011
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Stock futures pointed to a down start and were quickly corroburated by news of an increase in new weekly jobless claims. Althoug the trend has been steadily downward, traders are looking for sustained numbers under 400,000. That combined with inflaiton numbers that were slightly higher than ex...
02/17/2011
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Mortgage backed securities (MBS) closed up 34 basis points today at 97.53 having almost kissed resistance offered by the low of December 28th. Today's Consumer Price Index came in at controlled levels despite all the talk we have heard about rising commodity prices for items like corn and sugar ...
02/17/2011
Stock futures pointetd toward a noneventful opening this morning and equity markets were in full cooperation. With no earthshaking news from the middle east, stock muddled along in slightly negative territory. S & P researchers downgraded Intel from a buy to a hold and oil closed below $85. for...
02/14/2011
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Mortgage backed securities (MBS) closed up 12 basis points today at 97.12 having remained above support created on Friday. Solidifying that support level provides a new opportunity to assault resistance offered by the low of December 28th which lies 59 basis points above. With no economic repor...
02/14/2011
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For the first time in my recollection, we experienced not a pyramid scheme but a pyramid rally. Stocks which had opened higher based on improved consumer confidence moved strongly ahead when news broke that Mubarak had actually resigned. The rejoicing in Cairo and across Egypt spilled onto the ...
02/11/2011
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Mortgage backed securities(MBS) closed up 53 basis points today at 97.00 having crashed through resistance offered by the low of 12/16. Despite the positive news coming from Egypt, MBS bonds managed a solid rally today hopefully establishing Tuesday as the low point of this most recent falloff. ...
02/11/2011
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After a six day run up, stock futures were expecting some profit taking today. Fed Chairman Ben Bernanke spoke to Congress today repeating that inflation was within acceptable parameters and that the economy continued improving, albeit with snail like slow growth. He also took time to say that ...
02/09/2011
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Mortgage backed securities (MBS) closed up 34 basis at 96.78 having climbed over the resistance offered by the low of February 8th before bouncing up to resistance at the 12/16 close and closing just three points below it. Bonds were sagging miserably half way through the day before an A+ at tod...
02/09/2011
