Sideways Today

It may be a little early to call the day in trading, but all indicators suggest that today is going to be a sideways day that will be relatively anti-climatic. Despite the treasury yield falling to what may be the lowest in history (something I am researching), our market is flat showing only a two point gain.

Considering the stock market is all over the place, the DOW starting down 100 now up around 25, it seems long term investors interested in the mortgage backed securities market are sidelined today waiting to see what if the current levels are sustainable moving into the weekend. True the trading desks are closed on the weekend, but that does not mean the headlines stop rolling.

There is talk that the European union is close to a final resolution for Greece... should Europe stabilize over the weekend it will be interesting to see if that compromises our markets. Point in fact the dollar has done very well against other currencies over the last week or so. Should Europe stabilize we may see a surge in the Euro against the dollar which would hurt the market. The treasury yields would likely begin to rise which would bring down our market forcing interest rates up....


Right now the formula is one day at a time with no days wasted. We're are ready to discuss options with those who are still wondering if now really is the opportunity they have been waiting for.