For the 11th straight day Mortgage Bonds have touched the 200-day Moving Average. After a higher open, prices have bounced around and are now trading just above this important level.
On the news front, Overall Consumer Price Index fell a record -1.0%, thanks to an 8.6% decline in energy prices. Housing Starts also fell 4.5% in October. And yesterday, Mortgage Bonds bounced higher after news that giant hedge fund Paulson & Co. has started buying beaten-up Mortgage Bonds in its Advantage Plus fund.
The 200-day Moving Average is an amazing level to watch. Mortgage Bonds dipped below this level earlier today and now have settled right above this important floor. I recommend carefully floating for now, as we watch to see if Mortgage Bonds can build on the recent positive momentum....More
Showing posts with label consumer price index. Show all posts
Showing posts with label consumer price index. Show all posts
Wednesday, November 19, 2008
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