Between the DMV and the dentist I managed to squeeze in some trades today and it went fairly well for a messy tape. Fannie and Freddie came out with what I thought was fairly positive news about resetting mortgages but the market sold the news after an initial bump. The market has been bludgeoned with bad news of late and I was very surprised that when a decent piece of news came the market sold off hard. Certainly not bullish action. The shine seems to be off the apple with the one day wonder that was the China bailout and bearish sentiment seems to again be gripping the market.
I will try and be back with some charts shortly, I feel like I have been running behind since 6 this morning. Just one of those days,