ARCHIVED BLOG POSTS
2011
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Stocks had a hard time building any momentum today and had several swings during which they were down more than 100 points. The continuing lack of a solution for the ongoing European debt crisis provided just the kind of uncertainty which sends equity markets lower. Housing starts and building...
08/16/2011
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Mortgage backed securities (MBS) closed up 53 basis points today at 101.31 having remained in the rairified air in which they have been dwelling of late. The market had been holding its breath pending the announcement from the heads of France and Germany with regard to whether they would create ...
08/16/2011
Mercifully good news came to stock traders today in the form of a better than expected report on new jobless claims. The improvement versus the expection was only about 14,000 fewer claims. The silver lining was that at 395,000. the level fell below the important 400,000. claim mark. Any numbe...
08/11/2011
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Mortgage backed securities (MBS) closed down a staggering 119 basis points today having fallen from the lofty perch that I suggested yesterday may not be sustainable. Stocks started off the day strongly and MBS bonds began lower. The real damage was done, however, when the results came in from ...
08/11/2011
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I have often heard folks say that Wall Street is not a place for the faint of heart or that it is like legalized gambling. Well as a former gold trader myself, I can tell you that both of those are true. Look at the last few days - down 500. down 600. up 429 and now down 519 today. It is almo...
08/10/2011
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Mortgage backed securities (MBS) closed up 81 basis points today at 101.75 having closed above the former resistance level formed by the high of 10/7/10. Be advised that because the 30 year fixed rate is now trading in the 4.25% range and below, our charting has switched from the 4.0% coupon bo...
08/10/2011
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Mortgage backed securities (MBS) closed up a whopping 103 basis points after having traded in a 169 basis point range prior to closing at yet antoher two year high at 104.06. This was an unusual day as both stocks and bonds surged ahead on the same news. Bonds fared well because there was no ne...
08/09/2011
In one of the largest knee jerk reactions ever seen, stocks were pummeled today at their first trading session since the S&P downgrade of long term government securities from AAA to AA+. Although the rating firm had set out clear indications that if $4.0 or more trillion were not cut from U.S. s...
08/08/2011
In one of the largest knee jerk reactions ever seen, stocks were pummeled today at their first trading session since the S&P downgrade of long term government securities from AAA to AA+. Although the rating firm had set out clear indications that if $4.0 or more trillion were not cut from U.S. s...
08/08/2011
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Mortgage backed securities (MBS) closed up 53 basis points today at 103.03 having remained at the lofty 2 year high levels we have seen for the past three days. With stocks tumbling acrosss the globe, the safe haven trade in to MBS bonds and to an even greater extent Treasuries has been flowing...
08/08/2011
