It is doubtful that we'll start to see a turn around from this bear move last week. Major Reports due out this week are Existing Home Sales (Wed), New Home Sales (Thurs), and Consumer Sentiment (Fri).
The housing market is unlikely to pick-up before the spring, and consumers are likely to be sheepish with gas prices rising and the equity markets tanking.
But who called it? I did. I got a hearty congrats Friday when my boss said, "even a blind squirrell finds a acorn once in a while." - Still on the SHORT side. - Buying breaks in the bonds sounds like a good trade to me. - JK
Support and Resistance Numbers for Monday, Oct 22, 2007:
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