Finally getting a chance to scan the recent trading action of mortgage-backed securities and with one quick glance at the chart below, the price action sure looks ripe for a run higher.
Check this out.
Now, this chart might not make sense to you but to me this is an ideal setup for higher prices (lower mortgage rates) ahead.
This will likely unfold in tandem with continued pullback in the equity markets. I sure hope so as I have an existing bet on some Put options on the Dow Jones Industrial Average.
Let's see what this next week brings.
I'll be back with analysis within a few days. Cheers!
BG
www.brettgrendahl.com
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