Market Analysis

The market took a turn for the worse this afternoon as the stock market was able to stop it's losses on news that GM's sales decline was not as bad as analysts had expected and on the morning's stronger than expected Institute of Supply Mgmt manufacturing index.  Also, with oil prices topping $140 per barrell and the dollar continuing its decline investors who had moved their money into bonds became skittish and began sellilng their positions.  Below is a 15 minute chart from Larry Baer's Market Alert site that captures the activity from today in the Fannie Mae 5.5% 30 year mortgage-backed security.