ARCHIVED BLOG POSTS
2011
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Technical resistance for the S & P 500 caused stock futures to point downward this morning. The GAP lowered its forecast for the coming year and stocks began trending downward from the start. Oil fell to $96. during the trading session before finishing up 1. The Dow Jones Industrials closed do...
05/20/2011
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Mortgage backed securities (MBS) closed up 6 basis points today at 100.09 still floating in the quagmire below the tough resistace offered by the 200 day moving average. There were no economic reports released today, so MBS bonds profited slightly from a poor day in the equity markets. Interest...
05/20/2011
Despite poor reports from the Phiily Fed and lower existing home sales, the Dow managed a 45 point gain today. The 29,000 decrease in initial jobless claims from last week's report was sufficient good news to allow stocks to advance. In addition the IPO for Linked-In, the business networking si...
05/19/2011
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Mortgage backed securities (MBS) closed up 3 points today at 100.03 having remained in a tight range between resistance and support. New umeployment claims fell this week to 409,000 which was below what the street expected. This good news caused a selloff in bonds which began a seesawing effect...
05/19/2011
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Stocks stopped a three day slide today as the Dow Jones Industrials closed up 80 points. With no economic reports today, the Fed Minutes took center stage. Despite Dell showing improved earnings the Dow opened slightly on the down side. As bonds began to selloff in advance of the Fed minutes, ...
05/18/2011
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Mortgage backed securities (MBS) closed down 38 basis points today at 100.00 having fallen further away from the tough resistance at the 200 day moving average. The Fed minutes were basicly unchanged and bonds reacted poorly to hear that QE2 program would continue out through its scheduled cessa...
05/18/2011
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Home Depot, Walmart and Hewlett Packard (HP) reported earnings today and HP's report was a real stinker. As a Dow component HP set a major negative trend for the market. Although stock futurse opened flat, stocks suffered throughout the day with the Dow sustaining the greatest losses. The Dow ...
05/17/2011
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Mortgage backed securities (MBS) closed up 16 basis points today at 100.38 having broken through resistance at the 200 day moving average during the day before closing a mere 3 points below it. With each daily rebuff of the bond's attempt to break through the same resistance, the resistance gain...
05/17/2011
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Continued concerns about the Euro sketched a bleak outlook for stocks this morning. A truly disappointing Empire manufacturing outlook report this morning was just over half the expeccted reading. China has been a net seller of U.S. Treasuries for the past five months confirming speculation tha...
05/16/2011
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Mortgage backed securities (MBS) closed up 12 basis points today at 100.22 having once again moved a step closer to resistance at the 200 day moving average just 20 basis points above. Today's closing candlestick is call a Hanging Man because of its appearance and it is frequently a bearish harb...
05/16/2011