After bouncing off this AM's lows of 100-13 for the second time today, prices have formed a perfect triangle into the close--characteristic of so many past discussions of "leaky" Friday Afternoon's. At this point, it's not likely to get any additional movement on the day as it's kind of hard for the one trader left in front of a screen to trade with himself. So between now and the close, any burning questions about the short, medium, and long term future can all be addressed with last night's closing commentary, today's lunch commentary, and most importantly, the closing commentary from a few days back. After posting a chart of the current action below, we'll get back in touch to close out the week shortly, but be warned, if you threw the three posts above in a blender and poured a third of the concoction into your favorite frosted tumbler, it would likely be a fair approximation of what we'll post in the close. Maybe that, in and of itself, is significant.
MBS Market Alerts
