01.12.16-Day 2 of the true first week of the New Year.
Thought yesterday would give us an indication of how things were going to go. Nope, more see-sawing in the markets. We started the morning up nearly 200 pts and now struggling to hold any gains at all. Oil is still in a nose dive. Normally when there is a large dip in the markets, it is a signal to buy more stocks. But it seems to be a split decision on if we have really seen this trends bottom. We have slight stock gains this morning but are seeing a nice recovery after yesterdays late day decline in Mortgage Backed Securities and Treasuries. Leaning towards some lunch time repricing to the better. Tomorrow's news will be the markets reaction to Obama's last State of the Union speech should be interesting.
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