Posted To: MBS Commentary
Yesterday's morning notes laid out an ominous technical comparison to last January and we promptly proceeded to have the best rally of the year. There are a few points of order though. First, the default theme of this and any sustained rally is that the trend is our friend until it is not our friend any more. Again, it will take 2-3 BIG days of selling to threaten to derail this rally. It could begin today, or it could begin a month from now. On any given major sell-off day, it could already be halfway over. As for now, it's still friendly. Second, the technical comparison to last January is a big picture consideration, and unfortunately, it still can't be ruled out. I don't mean to harp on this like some sort of analyst that's overly invested in a particular idea. My goal...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/20pIqXR
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