ARCHIVED BLOG POSTS
2013
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Mortgage backed securities (MBS) closed down 19 basis points today at 103.38 having fallen over 100 basis points since Thanksgiving and closed 10 basis point below the 103.48 level which heretofore had been support. The next support level is all the way down at 102.66 almost 100 basis points bel...
12/05/2013
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What a topsy turvy road stocks have been taking of late. The sometimes suspect ADP new jobs reported more than 215,000 new jobs were created in November. As I have been saying of late, this should have sent stocks soaring, but because a good economy could cause and earlier tapering of the $85 b...
12/04/2013
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Mortgage backed securities (MBS) closed down 28 basis points today at 103.50 nearly 50 basis points below the 100 day moving average that had served faithfully as support for nerly three weeks. During the day the bond fell through support offered at the 103.48 level prior to coming to rest just...
12/04/2013
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After a year of strong advances for the Dow Jones Industrials, the S & P 500 and the NASDAQ, equity traders are using this pre-holiday trading to consolidate profits. Tidying up their long positions will net them a quite a nice nucleus with which to foray into next year's trading. taking profit...
12/03/2013
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Mortgage backed securities (MBS) began the day slightly higher today having floated up to a spot minimally above resistance offered by the 100 day moving average. As the afternoon progressed, however, traders began to consolidate their position in advance of this Friday's jobs report. A close w...
12/03/2013
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The ISM (Institute for Supply Management) Index came in better than expected today. The index is a harbinger of productivity in the short term future. So that good news should have caused equity markets to advance, right? That would be true in normal times, but the traders are so nervous about...
12/02/2013
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Mortgage backed securities (MBS) closed down 34 basis points today at 103.97 having fallen below support offered by the 100 day moving average and having managed to close just one basis point below it. The reason for the negative day was the issuance of some positive economic news. Bonds, becau...
12/02/2013
