ARCHIVED BLOG POSTS
2011
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Stocks were pummeled once again today as the great Washington stalemate lingered on and on. The parties are rife with divisions within divisions as noone can agree to do what needs to be done. Just slash the deficit and raise the debt limit already. If they actually take $2 trillion or more ou...
07/29/2011
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Mortgage backed securities (MBS) closed up a whopping 75 basis points today at 101.53 having had a gap open and run all the way up to resistance at 101.59. The safe haven trade was in full flow today but not because of Euro woes. Instead the double whammy of a lack of action with the borrowing ...
07/29/2011
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Mortgage backed securities (MBS) closed up 47 basis points today at 100.75 having once again crossed above the 50 and 25 day moving averages. This seesaw pattern is becoming dizzying from a writer's perspective and you out there must be beginining to wobble as well. The surprising thing is that...
07/28/2011
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From July 19. Both stocks and bonds were buoyed to by Obama's grandstanding proclamation of progress in the debt celing talks. Combine that with some great earnings reports and a positive housing report and you have the formula for a 200 point Dow rally. After some pretty nasty trading session...
07/28/2011
The endless, insufferable, agonizing scuffle that is occuring in the halls of Congress and the White House is ruining the joy garnered during recent advances in the stock market. As inflation is the arch enemy of bonds, uncertainty may be that for stocks. All the speculation of what could happe...
07/27/2011
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Mortgage backed securities (MBS) closed down 31 basis points today at 100.31 having fallen below the very two support levels that were yesterday's resistance. Normally stock and bonds travel in opposite directions. So one would have thought that with stocks being pummeled by uncertainty, that b...
07/27/2011
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Stocks could not find any positive results in the market place sufficient to overcome the negative reaction to the ungoing sophomoric bickering raging in Washington. While Case/Shiller reported that house prices rose by 1% new home sales were down 1%. Despite strong earnings from Ford, 3M noted...
07/26/2011
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Mortgage backed securities (MBS) closed up 31 basis points today at 100.66 having once again passed through the two strong levels of resistance offered by the 50 and 25 day moving averages. MBS bonds took advantage of the stock market malaise created by the lingering debt cveling talks which pla...
07/26/2011
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Stocks closed the week mixed as various sectors outperformed others. Although Caterpillars numbers were good, they missed expectations. Verizon beat the word on the street and allowed the tech heavy NASDAQ to move ahead while the Dow took a shallow dive despite MacDonald having also outperforme...
07/22/2011
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Mortgage backed securities (MBS) closed up 28 basis points today at 100.69 having once again crossed above the 25 and 50 day moving averages morphing them from resistance to support. Traders reacted to yesterday's selloff looking for bargains and MBS bonds moved ahead. Don't expect too much mov...
07/22/2011
