Morning Sell Off After Record Highs Broken

Yesterday we broke through records highs. It makes sense then that we would see a sell off where investors take a little profit. The five day graph to the left gives us a good idea of where we are and where we have come.

Although this sell off will result in reprices for the worse, you can clearly see we are within our current range of trading. In fact the retraction has brought us back under the current resistance levels. All things considered, this is business as usual.

We'll be tracking to see if this turns into something bigger, but all research currently indicates there is support for the current levels the mortgage backed securities market is trading at.

In closing let me remind everyone that tomorrow we will have a new flier published for your open houses, make sure to stop by.