The Glass Elevator Analogy; Oysters, Stone Crabs, Steak, Lobster, King Crab Legs, & Awesome Carrot Cake
My Schedule…and A Little Extra: Fried Oysters and peppers, amazing stone crabs, Caesar salad, perfectly prepared lobster, filet mignon, and Alaskan king crab legs, crab fried rice, parmesan mashed potatoes, brussels sprouts, some kind of hot chocolate raspberry cake with sauce, and finally the best carrot cake I’ve ever had. Oh, and 2004 Turley wine, a Vesper martini, and complimentary port to end the night. That’s how we celebrated one of my two best friend’s birthday last night at Trulucks Seafood Restaurant in San Diego. Then we crawled to the car and came home. My other best friend flew in from Minneapolis to share the event and weekend. On Sunday, we’re having another party with homemade Mexican cuisine from our mutual friend Rob who is an amazing unprofessional chef. Good times y’all. Celebrate them baby!
My Schedule: I have an appointment today at noon and will be done at 4:45p today for neighborhood happy hour.
My Market Watch: The Glass Elevator Analogy. There was a mid-day rate change yesterday afternoon dropping pricing about 0.125 across the board, and that’s how pricing opened up this morning. There are no economic reports out today or Monday so traders will look to technical signals to guess whether bond prices will go up or down. That means traders look to a history of how the 30-year Fannie Mae bond has traded over the last 10 days, month, quarter, etc. These indicators are called moving averages and they give traders a basis for guessing whether the price of bonds will go up or down. Accordingly they buy and sell to try and earn a profit. For example, if they see the bond is trading higher, like it is this morning, then they look for moving average ceilings. As the bond price goes up a trader will expect it to hit the moving average ceiling and then start to come back down again. If it goes through the ceiling, then they look for the next ceiling. I wrote a post on this back in August called The Glass Elevator Analogy – I like to think it’s a good visual on how to look at the ups and downs of mortgage backed securities. Let me know your thoughts…. My Disclaimer
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My Important Reminders:
- APPOINTMENTS. I am setting up appointments for the next several weeks…please let me know if you’re interested in an office visit. I will be sharing my insight on how to get new business in 2013 and what to prepare for as the year progresses….
- STILL WANTED. We are looking for Senior Underwriters, Loan Coordinators, Junior UWs, Doc Specialists and Funders. Referrals are greatly appreciated. Remote positions are available.