ARCHIVED BLOG POSTS
2011
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Stocks opened slowly this morning with losses coming early in the session. News that the Euroopean Central Bank loaned Europe's largest banks over $650 billion caused some optimism, but word that they were not re-investing the money in their respective country's debt caused concerns here. Oracl...
12/21/2011
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Mortgage backed securities (MBS) closed down 6 basis points today at 102.25 having remained above double support offered by the 25 and 50 day moving averages. With light volume heading into the holiday weekend, MBS bonds managed to keep almost level today. Despite the fact that today's Treasury...
12/21/2011
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Mortgage backed securities closed down 35 basis points today at 102.31 having fallen below the double level of support upon which they had been resting for the past few days. Somtimes candlestick indications just don't work out. The "safe haven" trade collapsed at least for the day today as goo...
12/20/2011
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Spain came to the rescue today and bailed both European and U.S. stocks out of deep malaise. Spanish equivalents of our 3 Year T bills, which had been yield ing as much as 5.0% in recent weeks, saw their yield fall to 1.75% today. Confidence in Spanish Treasuries is paramount if they ever hope ...
12/20/2011
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Mortgage backed seccurities (MBS) closed up 3 basis points today at 102.66 having once again closed wedged between support and resistance just two points above. Today's candlestick shows us that the bond closed at its high for the day which is usually a good omen. With stocks selling off again ...
12/19/2011
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In contrast to last week's selloff, stock futures pointed higher this morning. Despite Fitch Rating Service's dire remarks Friday calling the European debt crisis virtually irreparable, stocks opened with moderate improvement. A glimmer of hope that QE3 might occur, despite no mention in the Fe...
12/19/2011
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As the day began investors saw that bond yields had stabilized and stock traders began looking forward to a good day. Shortly after lunch IBM traded below an important technical level and stocks began to lose their early gains. The Fitch Rating Service went as far as to say that solutions to th...
12/16/2011
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Mortgage backed securities (MBS) closed up 22 basis points today at 102.66 having broken through half the double resistance above and remained just to 2 basis points below the other half. With a report of slightly higher consumer inflation than the Fed was hoping for one would have thought that ...
12/16/2011
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Stock futures were pointing upward today with a dearth of bad news coming from Europe. Prior to the opening, the government reported the lowest number of initial jobless claims in three and a half years. The market relished the good news and opened up over 100 points. More good news came from ...
12/15/2011
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Mortgage backed secuirites (MBS) closed flat today at 102.44 having remained once again squeezed between dual resistance and dual support. MBS bonds which have remained in this lofty area since Halloween remained there once again despite good news from U.S. economic readings. A quick look at th...
12/15/2011
