ARCHIVED BLOG POSTS
2011
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Comments by German Chancellor Merkel roiled markets once again as she indicated that there is no magic or quick cure for Europe's debt crisis. A weaker than expected report on New York manufacturing productivity caused equity markets to plunge as the "safe haven" trade quickly reappeared. Wells...
10/17/2011
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Mortgage backed securities (MBS) closed up to 50 basis points today at 101.22 having drifted down to test support offered by the low of 9/16 before bouncing upward toward the 50 day moving average. MBS bonds closed near their highs of the day which is typically a good sign for the next day's tra...
10/17/2011
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Stock futures had a rosy hue to them this morning as Google's strong earnings number help get the day rolling. When the retail sales number came in up 1.1% which was higher than the .6% that the market expected stocks began to roll. A poor reading on consumer sentiment slowed things down during...
10/14/2011
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Mortgage backed securities (MBS) closed down 31 basis points today at 100.72 having tested support offered by the low of September 16th prior to bouncing up to close 10 basis points above. MBS bonds traded in a tight range today as good economic news buoyed stocks. The fact that the support lev...
10/14/2011
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Stock future started off poorly today as China posted figures showing a slowing economy and JP Morgan Chase, although showing a profit of over $4 billion, fell below the street's expectations. Weekly unemployment claims were a non event as they came in virtually the same as last week. Slovakia ...
10/13/2011
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Mortgage backed securities (MBS) closed up 16 basis points today at 101.03 having risen up to test resistance offered by the 50 day moving average prior to falling 39 points below. A close so far from its high could have negative effects for tomorrow but keep in mind that MBS bonds are still wid...
10/13/2011
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Stocks had another positive day today as positive news from Europe replaced the negative. Slovakia reconfigured its position and decided to support the bank restructuring plan and Greece is due to receive 8 billion Euros some time in November. The Fed's minutes from their September meeting were...
10/12/2011
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Mortgage backed securities (MBS) closed down 22 basis points today at 100.88 having tested support offered by the low of September 16th prior to bouncing up 26 basis points above it. A poor Treasury auction received a D rating and set the tone for the day. The stochastics tell us that the marke...
10/12/2011
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After yesterdays' strong advance stocks roars were muted today as world events calmed and any remnants of euphoria dissipated. Traders took the opportunity to solidfy some gains and bolster their October trading portfolios. In the absence of economic reports, there was litttle to propel equity ...
10/11/2011
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Mortgage backed securities (MBS) closed down 6 basis points today at 101.38 having crahsed through support offered by the 50 day moving average before closing back above it. The red candlestick with the close at the very top forms what is known as a bullish hammer pattern. This portends well fo...
10/11/2011
