FNMA 4.5% bond is DOWN on the day...Trading at 101.75 with the end of the session.

FNMA 4.5% bond closed out the day after massive selling took place.  Some of it was due to profit taking likely as the bond has been oversold for the last several days. 

China: over the last few days there were rumors that China would be choosing to perhaps curb its investments in European financial instruments.  This fed the fear machine and investors reacted.  Today it was released that they do not intend to stop being a long-term investor in Europe.

Dow was UP 284 points on a renewed sense of confidence in the markets along with some of the bargain hunting going on out there.

Oil was UP to 74.55/barrel as well today so there was evidently some money moving into that marketplace.  The dollar is actually falling as other currency is picking up some momentum.

What's up with the Oil Spill?  This is such a crazy thing happening down there and it seems unthinkable that we haven't been able to cap it.  If I were a conspiracy theorist I would be pretty suspicious with this one.  I don't imagine they will allow any more drilling in that area, it has created a false sense of scarcity and the solutions that seem to make sense are not being explored.  It really feels like an event that was contrived.  I am going to look into it further as my ignorance is likely showing up pretty well here.  

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Chad Schauers
Montana Mortgage Lender, Bozeman, Montana
Personal Cell: 406 799 8613
Personal Email: metchad@gmail.com