Daily Rate Advice

After a three-day slide, Mortgage Bonds are attempting to stabilize and are clinging to key technical support levels near the lower end of their current trading range.

Stocks are flat to slightly lower as investors are still casting doubts on the Eurozone debt situation and after computer maker Dell Inc. reported lower than expected quarterly earnings.

I am recommending a Cautiously Floating bias as long as Mortgage Bonds can remain above the aforementioned support levels. If those levels are breached, I will quickly switch to a Locking stance.

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