ARCHIVED BLOG POSTS
2010
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With no economic reports coming out today and a constantly dwindling number of traders at their posts, small numbers of trades can cause extreme volatility in the market. Stock futures pointed higher this morning. They have been climbing for nearly three weeks and some positive street action pr...
12/20/2010
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Mortgage backed securities (MBS) closed up 3 basis points today at 98.75 having started out strongly, faded mid day and finished with a paltry gain. The Treasury bought two packages of Treasuries today and after the second purchase bonds lost ground. One of the Fed Presidents pointed out today ...
12/20/2010
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Stocks remained near even all day as bonds did their sugar plum dance. Ireland's credit rating was cut today in reaction to the recent bailout package. That sent Euorpean financial stocks reeling but had little effect on U.S. stocks. The Dow coasted to a loss of a mere 7 points while the S & P...
12/17/2010
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Mortgage backed securities (MBS) closed up 84 basis points today at 98.72 having opened a gap up and at one point having been up over 100 points. All yesterday's positive indicatiors pulled through and new ones were created. A few days ago I mentioned how oversold the market was. Today we had ...
12/17/2010
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Equity markets had plenty of good news to propel them forward. The headliner was the Philly Fed report which rose to 24.3 when only 13 was expected. This, as with the recently improving Empire Manufactruing, is a harbinger of improved manufacturing activity and a likeliness of job growth. When...
12/16/2010
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Mortgage backed securities closed up 81 basis points today at 97.88 having broken through resistance offered by Wednesday's low and come to rest just below resistance at the low of 5/5. As I mentioned yesterday the market looked ready for a turnaround. Although the market opened higher, there w...
12/16/2010
Stocks were expected to open lower today based on new reports about trouble in Europe. Pre-opening news, however, allowed stocks to start the day out in positive territory. A significantly better readout from the Empire State manufacturing index (10.57 versus the 3.0 expected) signalled an impr...
12/15/2010
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Mortgage backed securities closed down another 97 basis points today at 97.06 having fallen through two levels of support. There is simply no bottom in sight. The good news is that the stochastics tell us that the bonds are extremely oversold. Tomorrow would be a great time for short sellers t...
12/15/2010
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Today's markets acted more predictably today without any play from foreign markets in the mix. Today was all about the FED. While stocks have tolerance for inflation, they especially appreciate the possiblity of the waning dollar and the possiblity of ensuing improvement in production and sales...
12/14/2010
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Mortgage backed securities (MBS) closed down a whopping 122 basis points today at having crashed through suppport offered by the close of June 3rd. MBS bonds opened with a serious case of the jitters today in anticipation of the Fed Open Meeting minutes being released at 2:15. As I have been wr...
12/14/2010
