late day sputtering equities rally exerting minor selling pressure on entire FI sector. MBS taking it a little worse than tsy's.

Technically speaking, we're testing the low range of a triange that emerged earlier in the day. We'll try to bring you a graph, but your best bet for visuals at this point is MBSLive. (see below post)

So far MBS are resistant enough to an outright sell-off, and considering the weakness from earlier in the day, you PROBABLY won't see a reprice soon.

But once you get over that hill, the decision of whether or not to lock short term deals faces you. If you're in that floaty boat still, we wish you had seen the first lock alert of the day which was slightly more suggestive than our normal urging. Tough call as to where we'll be tomorrow. Spreads are wide and that might not be a good thing if stocks decide to rally back up to mid 9000's space. Then again, if the aforementioned occurs due to a re-emergence of risk appetite, we could pick up the bid right along side.

Oops... Did we just type all that?

Stocks just tanked big time. One might suppose that validates this post title seeing as how MBS ticked back up on the dow sell-off. Well, we hope you enjoyed the reading. you're back to safe again. We promise we have the master-blogger chained to a desk, motivated by whips and verbal beratings. We have him up to 100 words per minute, but the human hand can only do so much against this "Age of the Judo Choppiness."

Fight off that Seppuku urge until we can get up with you. If we don't, no news is good news.