ARCHIVED BLOG POSTS
2014
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After yesterday's setback, stocks coursed around with gains in the teens for the Dow today until achieving a moderate gain with a late surge. The news that the economy actually lost 1% in the first quarter was pretty much a non-event and was priced into the market. A better than expected number...
05/29/2014
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Mortgage backed securities (MBS) closed down 31 basis points today at 105.75 having fallen through support offered by the 105.97 and 105.91 levels. The large red candlestick tells the story both by its structure and its positioning on the chart. Having surpassed the high of 5/28/14 yesterday, b...
05/29/2014
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With no economic reports coming out today to guide them equity traders were looking toward daily events to measure their trade. Fed President Lockhart said that he is in no hurry to end the Fed purchases. This should have been good news for both stocks and bonds. While bonds rallied nicely, ho...
05/28/2014
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Mortgage backed securities (MBS) closed up 34 basis points today at 106.03 having crashed through resistance at 105.97 on its way to closing just 9 points below the high of the day. That level which has now become support was the high of 5/28/13. Remember it was about May 1 of 2013 when rates r...
05/28/2014
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Stocks managed a third consecutive day of gains today with all three major U.S. exchanges posting nice improvements. Stocks across the globe were near or at record highs today as the European Central Bank hinted that it might lower its core interest rate even more. Meanwhile Case Shiller report...
05/27/2014
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Mortgage Backed Securities (MBS) closed up 16 basis points today at 105.72 having pushed through and closed above resistance offered by the 105.65 level which represented the October 23 high. MBS bonds had a strong performance despite a fairly good performance by stocks today and the fact that t...
05/27/2014
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Last week I was watching film clips of the D-Day invasion on Normandy's beaches. I thought of the courage of our troops as they marched forward into the face of one of the most fortified military positions on earth. By the end of the day, there was not one sound of German fire on the beaches an...
05/23/2014
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After yesterday's confirmation of Wednesday strong performance by U.S. equities, it was uncertain what today's light trading session would bring. A quick look at the major indices, however, shows additional improvement as the S & P 500 flirted with yet another high. Some solid reports from reta...
05/23/2014
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Mortgage backed securities (MBS) closed up 3 basis points today at 105.56 today having shot up and passed through resistance offered at the 105.65 lever prior to sliding back below it. The light trading sessions around holidays can prove to create large swings of volatility as smaller trades can...
05/23/2014
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After yesterdays sell-off, stocks staged a major comeback today. The Feds' minutes of its Open Market Committee hinted at a better economic outlook out into the future. Indices were boosted by a long awaited resurgence in the financial sector. All this occurred despite concerns about the poorl...
05/21/2014
