Tuesday 7/8/09 ... Still doing well...

By: Matthew Graham • Tue, Jul 8 2008, 10:26 AM

Despite stocks rising over 60 pts on the DOW, MBS are still at the highs of the day. Spread between 5 yr's and MBS are currently 6 ticks in MBS favor which is also good.

Currently the 5 year is up 4/32nds on the day and MBS are up 10/32nds. The Dow, recently touched 60pts and has since dropped to 53.

At these levels, MBS appears solid. Keep an eye out for a more sizable stock rally.