Zap! "clear!"

ZAP! "clear!"

"we have a pulse doc!"

"no, no, we're losing him again, dammit!"

"Clear!"

ZAP!

"patient's vitals are stabilizing doc"

The above is a transcript from the movie just out in theatres entitled "Mr. MBS's Wednesday Afternoon's brush with death."

Again and again and again the price curve has bounced of 100-11 in 5.5 MBS. Each time, without fail, the magically symbolic defib paddles shocked the chest of MBS when it hit 100-11.

We still have not fallen below this level. In terms of a technical analysis perspective, the more times a price curve bounces off any trend line, the more firmly that trendline is established. In this case, we are establishing a very solid "floor of support," to use the mBS analysis cliche, except ours hold water..

We made it all the way back up to unchanged on the day and are currently in the midst of choppier price action than a ginsu commercial. No sooner are these words typed than we have vascillated a tick here, two ticks there. Ticks Everywhere! It's enough to make a stray dog cringe.

Moral of the story, depending on when your lender priced this morning, you should have been hit for .125 to .375. If that has already made it's way to you and you did not lock, congratulations, you are a floater again. And to brighten your day, should our MBS patient simply "flatline" at current price levels, you'd like get a late day special surprise from your lender once they see the volatility isn't going to continue to create an uncertain pricing atmosphere.

"I'm NOT GOING TO LOSE ANOTHER PATIENT!!!!"

give the doc some credit, he is fighting an uphill battle right now with spreads leaking out to their widest levels of the week. Everyone root for him. He holds your YSP gains in his hands. (or "her" hands, we are equal opportunity MBS analysts).

If only you could be with us on the MBSLive session where we are watching these events unfold in real time! It's FAR better than any of those hospital dramas. The invite announcement is elusive as we get overloaded quickly (it's almost like there's a high demand for accurate data, go figure...).

But, to reward you for reading a very long, and very groan-inducing (because of all the puns) post, here is an invite announcement. We'll have to take it down when we get over-booked again, but rest assured, we will get to you. For now, just click here, an email window will pop up. The subject will automatically populate and all you need to do is click "send." However, if you want to type a comment, feel free.

Ok, our daytime TV movie is going to commercial break. We'll be back on the air if good 'ol Mr. MBS looks like he is reaper-bound, we'll let you know. We wouldn't expect a full recovery on this episode.. Just hope for survival.