01.07.16- Wild and crazy ride and only 3 1/2 days in.
China hit the circuit breaker again and closed for the day, 29 minutes after opening bell. Oil is still dropping and unemployment report showed a small drop, still believe this will be revised next week much higher with the flooding in the middle of the country. All market are way off but the US markets are slowly recovering. This little melt down was as high as 350 points off before the opening bell, all on only 12 million trades in early trading. Buyer are starting to come out in stocks doubling trade volume in the last 1.5 hours this is chasing them away early from Treasuries and Mortgage Backed securities. We had a nice little rally early but it is fizzling out and heading to slightly negative. We will see if yesterday started a pattern when money didn't show up in Mortgage Backed until very late in the day with substantial movement to positive territory. Hang in there, next week everyone will be back at work and we will hopefully see some stable market patterns start.
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