ARCHIVED BLOG POSTS
2011
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Yesterday I talked about the two big earnings releases today. Well to borrow a Dickens phrase from A Tale of Two Cities, "It was the best of times, it was the worst of times." While GE came out with a stellar 51% improvement in earnings, Bank of America had none at all. In fact they lost $1.6...
01/21/2011
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Mortgage backed securities (MBS) closed up 34 basis points today having made a strong run at resistance offered by the 25 day moving average. Although bonds fell just short of resistance, they did close at the high of the day. The result is a Japanese candle stick formation called a Bullish Ham...
01/21/2011
Stock reacted to a mixed bag of economic news with a wild roller coaster ride which saw the Dow Jones down over 70 points before closing down just 2 points. As the dollar rallied, commodities like oil, which are traded in dollars, experienced signficant selloffs. News of 10.3% growth in China's...
01/20/2011
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Mortgage backed securities (MBS) closed down 59 basis points today having fallen through a level of support offerd by the 25 day moving average. There are no economic reports due out tomorrow. Bank of America and General Electric are set to report their 4th quarter earnings, however. Results w...
01/20/2011
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Remember the Michael Jackson lyrics "one bad apple don't spoil the whole bunch girl"? Well today Goldman Sachs stunk up the whole party. The S & P 500 had its worst single percentage day since November, the Dow closed down 12 and the NASDAQ was down a whopping 40 points. While Wells Fargo met ...
01/19/2011
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Mortgage backed securities (MBS) closed up 19 basis points today at 99.22 having fallen early in the session before bouncing off support at the 25 day moving average. After the bounce money started flowing into bonds from stocks and the modest advance was achieved. Tomorrow reports on initial j...
01/19/2011
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Last week I wrote about the possibility that the dollar might be in danger of remaining as the world's reserve currency. That is a benefit which allows us to buy commodities in dollars rather than having to trade for another currency to buy them. Yesterday China's President, who by the way is m...
01/18/2011
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Mortgage backed securities (MBS) closed down 38 basis points today having attempted a run on the resistance at the low of December 7th once again. Shortly after the open, news came out that China's net purchases of American debt were actually in the negative in November. It turns out they sold ...
01/18/2011
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Corporate earnings continued to please today with JP Morgan Chase and Intel leading the way. Traders wanted more, however, and stock futures pointed toward a lower open. As Chase began to advance in price, other financial stocks followed and soon the broad market was improving. Today's 55 poin...
01/14/2011
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Mortgage backed securities (MBS) closed down 16 basis points today at 99.41 having briefly crossed above the now venerable resistance offered by the low of December 7th. The Japanese candlestick reflecting today's trading session is called a Gravestone Doji which traditionally signifies that th...
01/14/2011
