Trades

Bought 13 MO at $77.35 today. It's now yielding as much as the 10-yr. Institutional money will pour in because it's safe.

Sold 86 CFC at $11.59. It's bounced 40% on Paulson's mortgage rate freeze. The only thing that will fix is the stock market for a couple of weeks. Then everything will just get worse. The foreclosure rate has just hit a 20+ year high. Probably the worst rate since the great depression. Nobody knows because the numbers don't go back that far.