Good news. I think . . . .

MBS prices held in a range today. September Existing Home Sales jumped 9% from August, far exceeding the consensus, to the highest level since July 2007. Inventories of unsold existing homes dropped sharply to a 7.8-month supply from a 9.3-month supply in August. This marked the lowest inventory levels in two and one-half years. According to the NAR, 45% of home sales in 2009 were by first-time homebuyers. For the week, MBS prices fell about -4/32.

This week will be packed with important economic data. The most highly anticipated will be Thursday's release of third quarter Gross Domestic Product (GDP), the broadest measure of economic activity. Durable Orders, another major indicator of economic activity, will come out on Tuesday. The New Home Sales report is scheduled for Wednesday. Chicago PMI, Personal Income, and Core PCE inflation will be released on Friday. Consumer Confidence and Consumer Sentiment will round out the busy week. In addition, the Treasury will auction a record $116 billion in 2-yr, 5-yr, and 7-yr securities on Tuesday, Wednesday, and Thursday.

Thanks to Landover's Jim Tolas for this information

Lighten up!

Our friend Kathy Caraher passed these on. I don't know the source, but these work for me!

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.



BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use.