24 Apr Short term locking bias
Stocks pushed higher initially, but have since pulled back to flat. Durable Goods for March disappointed investors, as did the earnings reports of a few big companies. The markets experienced a new threat yesterday, as the Associated Press’ Twitter account was hacked. Stocks dropped 150 points within 2 minutes, as false news of an attack on the White House spooked investors. The markets recovered quickly upon clarification. mortgage bonds remain in a tight range at the top of their trading channel. We will maintain a short term locking bias.