ARCHIVED BLOG POSTS
2010
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As I have previously discussed, stocks typically rise on good news and fall on poor news. Bonds are typically the reverse. As we know all too well, however, there are exceptions to every rule. News of the improved jobless claim numbers came out early and stock futures pointed toward a good day....
10/28/2010
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Mortgage backed securities (MBS) closed up 47 basis points today at 100.44 having come within 9 basis points (bps) of resistance at the 50 day moving average and having closed just 15 bps below it. The advance was due mostly to the strength of a good Treasury auction of $29 billion 7 year notes....
10/28/2010
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The dollar rallied this morning pointing to a lower open for stocks. US Steel reported poor 3rd quarter earnings numbers exacerbating the downward predispositon. Then consumer confidence numbers showed an improvement over September. Coach the accessory manufacturer bagged some improvement and ...
10/26/2010
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Mortgage backed securities (MBS) closed down 44 basis points today at 100.28 having crashed through resistance at the open. Today's open was called a gap open because there was a gap between it and yesterday's close. The inflation clamor of yesterday's TIPS auction had MBS bonds continuing to f...
10/26/2010
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A falling dollars led futures to point toward a positive open. After they did, in fact, open higher, stocks received a boost as sales of existing homes jumped upward by a solid 10% last month. Although the market is still somewhat in limbo pending word on the true volume of the Fed's anticipate...
10/25/2010
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Mortgage backed securities closed down 22 basis points today at 100.72 having come to rest below the 25 day moving average and are now just 13 basis points above the 50 day moving average. Bonds were trading in the black for the day, until results came in from the Treasury auction. Today the go...
10/25/2010
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Compared to yesterday's turbulence, stocks looked as if they were flat lining today. They were up slightly at the open based on some strong earnings reports, but stumbled during the day with the Dow coming to a close with a humdrum 14 point loss. The Nasdaq managed a meager gain as tech stocks,...
10/22/2010
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Mortgage backed securities(MBS) closed down 25 basis points today at 100.94 landing just slightly above support at the 25 day moving average. Yersterday's foreboding candlestick fulfilled its prophecy. Perhaps traders were thinking about the staggering size of next week's Treasury auction. Alt...
10/22/2010
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With a plethura of economic news stock traders spent the day on a whirling dervish of a rollercoster ride. Improved earnings reports from several major corporations started the Dow off in a positive direction. Although the Philadelphia Fed report fell just below expectations, new jobless claims...
10/21/2010
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Mortgage backed securities (MBS) closed down 25 basis points today at 101.16 remaining in a range between resistance at the 10/7 close and support at the 25 day moving average. The Japanese candlestick shows that MBS bonds closed near their lows for the day. This could prove troublesome for tom...
10/21/2010
