Registered User
Joined: 11/18/2008
Posts: 37
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As you probably know FNM has been contacted by the NYSE in regards to not meeing the listing standards. I expect FNM to respond with a plan to regain complaince, and probable some manipulation to skip being delisted.
I think there is some potential here if you can accumulate at the current levels (.48 - .68).
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Registered User
Joined: 11/18/2008
Posts: 37
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Feds are coming to the rescue -how do you like them apples??? Ah!
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Registered User
Joined: 11/18/2008
Posts: 37
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38% up during regular session AND closed another 34% in after market sessin. Nice.
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Registered User
Joined: 2/5/2006
Posts: 1,148
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and what exactly is your target for fnm?
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Registered User
Joined: 11/18/2008
Posts: 37
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Funny I just sold the 10,000 shrs I had accumulated at about .51. Sold at market at about .723.
I needed $ for Turkey dinner. But it could had been any other target. Not bad for a week trade.
Just don't like to hold overnight for the most part.
It is just trading at .71.
Take care.
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Registered User
Joined: 11/18/2008
Posts: 37
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Today it close at 1.27 - that is ???? about 400% up from the low of .31 just a few days ago.
Still waiting??
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Registered User
Joined: 11/29/2008
Posts: 1
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I had the fun of buying 23400 shares at .97 early in the day while I was waiting/hoping for GGP to announce some resolution to their debt that was due Friday. The chart remained flat and was meeting resistance between .97-.98 so I sold out at .975. Only to get a news alert that mentioned FNM and checked to my dismay it was running up fast... Oh, well. I stll made over 3k Friday morning, but that would have been another 10k day had I held it a little longer... I am looking for a pullback in solars and drybulk shipping, mainly SOLR and OCNF as I have made around 70% on both in the past week...
Next week I'm hoping for the pullback with all the selling-into-strenght the last four sessions.
Happy Trading...
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Registered User
Joined: 10/7/2004
Posts: 2,126
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This is holding well - better than I though. But then, you know those big boys come make dreams come true.
Interest rates have been lowered again for the 30 yr fix mortgages. That is a plus.
I also believe you are going to be able to accumulate at substantial lower prices to hold or for a quick profits in the near future.
The reverse split seems inevitable.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Lower prices seems to be in the works. By the way you Dragon people out there - does the chart below look like a sad dragon or what? Will the dragon or should say dinasour smile?
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Registered User
Joined: 6/6/2005
Posts: 1,157
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No way -- that is a dragon BigBlock! Wow. I'm happy to see that you are aware of them and that they have burned their way into your concious. (pun intended) Can you imagine, the great BigBlock at his comp thinking, hmmmm, that looks like a dragon. A sad little dragon, but a dragon nonetheless.
It's kind of touching in a way.
But yeah, this one looks like it's broken down. Not even the right market for dragon hunting anyway. But we do remember that the dragon is layout, right? Seeing as you don't have the dragon layout on your screen this would just be a broken down pennant/triangle.
But still, it does make me eager to break out the sword and shield. If only the dragon hunters first rule wasn't patience I'd be out there in a jiffy!
David John Hall
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Registered User
Joined: 9/25/2007
Posts: 1,506
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QUOTE (BigBlock) This is holding well - better than I though. But then, you know those big boys come make dreams come true.
Interest rates have been lowered again for the 30 yr fix mortgages. That is a plus.
I also believe you are going to be able to accumulate at substantial lower prices to hold or for a quick profits in the near future.
The reverse split seems inevitable.
But ... it seems that reverse splits rarely work longer term ...
They may provide a short term boost ... but the price generally wanes back down ... reducing the total capitalization ....
Very simply ... FNM has been reduced to an "option" ... without expiration ... and will likely remain that for some time ... and I don't know if a reverse split will do anything to alter the value of that option ...
Hard to tell on rates looking forward ...
To explain ... Right now there is a huge flight to safety ... namely T-bills ... causing the yield to go flat or even negative ... i.e. the Fed has got plenty of money at their disposal ....
But ... that's not going to continue into perpetuity ...
The incoming administration is going to float another TRILLION in debt ... that means that another TRILLION in T-bills has to be sold ...
Seems to me that they are making a BIG bet that this T-bill demand will be sustained ... when I doubt VERY SERIOUSLY that it will ...
I suspect that some time in the first half of next year ... we will see a Fed auction with not nearly enough bids to cover the auction ...
That is when things will start to get interesting ...
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Registered User
Joined: 10/7/2004
Posts: 2,126
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I like how this is evolving again. IF the price goes below .60, then the initial recommendation is in effect again.
Get ready to make some real $ here again. Cheers to Bernanke.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Nice call Bigblock. thanks.
this looks a bit like AIG which I have been watching for a while now.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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by the way, for those that can't sit and watch this but don't want to miss the big move, a fairly safe way to enter is to check EOD data, set a conditional buy order for just above the HOD, adjust it each day as the HOD's move successively lower. Set a LR30 on price. As long as price is getting some support you're fairly safe.
Again, Bigblock, thanks for calling this to our attention.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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I have seen signs of accumulation in both AIG & FNM. They are both forming nice triangle patterns right now. FNM is carrying a lot of debt and although not all are on board with my vision of accumulation I see these both doing good things as well...
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Registered User
Joined: 10/7/2004
Posts: 2,181
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The time may have come. Consider getting on board; probably just a few days.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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The trendline across the Sept and Nov highs has been broken nicely today.
This trendline also acts as the support for the price action prior to the gap down in early Sept.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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QUOTE (BigBlock)
I like how this is evolving again. IF the price goes below .60, then the initial recommendation is in effect again.
Get ready to make some real $ here again. Cheers to Bernanke.
FNM has traded as low as .45 last Thu. I am confident you were accumulating - weren't you?
closed at .63 on Friday - that is over 23%.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Bought large volume at 0.53 Friday morning. Thanks again Bigblock.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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QUOTE (Apsll) I have seen signs of accumulation in both AIG & FNM. They are both forming nice triangle patterns right now. FNM is carrying a lot of debt and although not all are on board with my vision of accumulation I see these both doing good things as well...
Tobydad you might want to keep an eye on AIG, I like that bullish candle. Kudos on FNM
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Registered User
Joined: 2/17/2008
Posts: 132
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are those of you still holding this planning to keep it overnight? i hear that earnings release is taking place at 6pm.
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