Wendesday 10/15 ... Paulson Bails, Bernanke Speaks, MBS up 15 ticks, Time For.....

6.0's are now 100-02, 15 ticks up on the day, nearly a point trough to peak. We're coming off the lowest point of the year this AM. Previous low in July was 99-10. We hit 99-06 this AM.

Relief pitcher on the way as TARP funds will soon enable market participants to find an MBS bid.

The magic 8 ball has been shaken, and at least for the next few hours (HA!), all signs point to float.

Water wings on...

Back in the pool...

Sell the high, buy the low, trade the curve.... FLOAT CLUB's in session.

(shhhh... don't tell anyone....)