ARCHIVED BLOG POSTS
2011
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After days of seemingly freefall, stocks perked up today in the face of some encouraging ecomomic news. The weekly unemployment claims were under the 400,000 mark once again this week at 385,000. Fedex beat their expected earnings and the big news came from the Phildelphia Fed manufacturing rep...
03/17/2011
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Mortgage backed securities (MBS) closed down 12 basis points today having remained right at the resistance level offered by the high of January 31st. Good economic news would normally have sent MBS bonds into a significant selloff. Due to the lingering uncertainty regarding Japan's nuclear woes...
03/17/2011
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With no economic reports being issued today the struggles in Japan and the Middle East set the tone for stocks today. In a word; down. Although oil prices were down, safe haven money poured out of stocks and into bonds once again today. Even as Saudi troops marched into Bahrain in an attempt t...
03/14/2011
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Mortgage backed securities (MBS) closed up 22 basis points today at 98.66 having remained above support offered by the 50 day moving average. During the day MBS bonds popped above the next level of resistance before falling below it again. Today's candlestick formation shows that more fluctuati...
03/14/2011
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Stock futures pointed lower again today for fear that the earthquake in Japan would cause another "safe haven" run to bonds. With oil dropping below $100., however, there was some reason to look for improvement. Consumer sentiment dropped on worries of higher gas prices. Energy stocks rallied ...
03/11/2011
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Mortgage backed securities (MBS) closed down 31 basis points today at 98.44 having managed to close just 1 basis point above support at the 50 day moving average. Yesterday's gains were washed away today as concerns that Japanese insurance companies would selloff substantial portions of U.S. Tre...
03/11/2011
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When intitial jobless claims were reported slightly higher than the street expected, stock futures turned to the negative. Boy were they right. Although the claims set the downward trend for the day, appauling news from Saudi Arabia took all the wind out of the market's sales. The Dow closed n...
03/10/2011
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Mortgage backed securities (MBS) closed up 50 basis points today at 98.72 having broken thorugh and closed above tough resistance offered by the 50 day moving average. Early in the day most of the safe haven effect resulting from reports of civil unrest and a violent government reaction in Saudi...
03/10/2011
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Athough stock futures pointed to a flat start, comments by Treasury Secretary Geithner about an increasingly improving economy set stocks off with a positive tone. With no economic reports to influence markets today, word of a dividend increase in Bank of America's future, was the kind of news s...
03/08/2011
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Mortgage backed securities (MBS) closed down 25 basis points (bps) today at 97.67 having fallen below double support offered by the 25 day moving average and the low of December 28th. The actual chart for the day shows MBS bonds down 59 bps, but that includes the 34 basis point adjustment for th...
03/08/2011
