Traders apparently just woke up to what looked like a knockout last night.  But now they have precipitously "come to" and decided to chew their own arms off and get the heck out. 

At 930AM, the 6.0 MBS dropped over 10tick in less than 4 minutes.  Short term floaters, may want to lock if you got 'em.  Don't panic (yet), we could see a turn around here, or we could be heading right back down to the average high trading levels.  Stay tuned!