ARCHIVED BLOG POSTS
2014
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Stock futures pointed toward another good day in stocks. early in the day it was learned that housing starts were 16% higher in July than they had been in June while building permits were up as well. This good news on housing along with a tame inflation reading from The Consumer Price Index set...
08/19/2014
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Mortgage backed securities (MBS) closed down 3 basis points today at 105.59 having come to rest just 7 basis points above the dual support level offered by the 25 and 50 day moving averages. Despite another strong day for equities, MBS bonds were able to remain close to breaking even due to some...
08/19/2014
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As news came out this morning of a possible truce to stop the warring factions in the Ukraine, stock futures headed skyward. Following suit, the Dow Jones Industrials opened up 100 points. Stocks continued to soar throughout the day. A positive Housing Market Index reading added fuel to the fi...
08/18/2014
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Major international conflicts and the cessation there of can have major effects on capital markets. I remember back in 1990 when Desert Storm was about to begin. I was trading gold at the Comex and I had sold 10 positions short. A rumor came out that we were going to war and gold sold off $10....
08/18/2014
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Mortgage backed securities (MBS) closed down 19 basis points today at 105.62 having fallen below support offered by the 105.81 level. When stocks rallied as the street received rumors about a possible truce in the Ukrainian debacle, the money had to come from somewhere. You guessed it. Bonds ...
08/18/2014
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In reaction to saber rattling, rouses and a Ukrainian surprise, stocks, sold off in late morning. It turns out that the Russians tried to sneak an invasion force into Ukraine under the guise of humanitarian aid. When the Ukrainian President found out, he blew up many of the vehicles. Cooler he...
08/15/2014
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Mortgage backed securities (MBS) closed up 12 basis points at 105.81 having passed through resistance at both the 105.81 and 105.94 prior to closing directly at support on the former level. The worries of escalating danger in Ukraine set the MBS bonds off to higher levels prior to giving back so...
08/15/2014
Stock futures pointed higher this morning. A 21,000 increase in initial jobless claim did little to prevent stocks from rising at the open. The government declared that the average conforming 30 year fixed rate last week was 4.12%. The fine print always shows that this rate included paying som...
08/14/2014
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Mortgage backed securities (MBS) closed up 10 basis points today at 105.66 having remained above double support offered by the 25 and 50 day moving averages. Despite a good performance from equities an A rating from today's Treasury auction propelled MBS bonds once again in search of recent high...
08/14/2014
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Stock futures pointed toward a positive open ass the market anticipated today''s report on retail sales. As it turned out retail sales were flat versus an expected slight increase. The Dow opened with a 50 point gain nevertheless. Thanks to a rally in the bio-tech sector, stocks were able clos...
08/13/2014
