MBS ALERT: "Cool Dude" Apparently Slain...

First of all, make sure you've read the last post.

Since then, we came down to the "cool dude" line at 11:30 and had a nice bounce.  In the last 5 minutes though we punctured the line by about 2 ticks which MAY OR MAY NOT be considered a trip of that trigger depending on how rigid your allowances for variance are.  We've talked in the past about technical analysts looking for certain measures of violation before considering a price level truly violated.  2 ticks here is right on the edge.  Flows are choppy and we've already broken back above the line, but I did say that if we broke below, you'd hear it here first, and so you are.  If we break below again, we know where to find you.