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Registered User
Joined: 10/7/2004
Posts: 2,126
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As I adviced a few weeks ago, acumulation under .45 was a bargain.
I have been riding this for what I think has been longer than I remember (1 1/2 week??), but hey with just $3500 in the bag - what was the worry. I enjoyed every minute of the trip, althought I must say it got boring sometimes.
Once again FNM is making the move - Hell even dragons are showing on the intraday charts.
I hope you were paying attention - today FNM was 30% up.
Check out the DRAGON (or flag - whatever you like) on the intraday - watch out for the fire!!
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Bigblock;
Thanks for pointing this one out a month or so ago. Once I find one that fits my profile, I just keep checking on them and waiting for them to fire up (while I do my other trading).
Here's what I said on another thread on Mar 13:
Anyway, FNM, buy at 0.43 to 0.45 for a quick return. I think it has some serious potential.
Thanks again BB
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Registered User
Joined: 9/9/2008
Posts: 8
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With the Federal Reserve committing this afternoon to buy up another 1.15 Trillion in mostly mortgage and agency debt it must be like Christmas in March over at Freddie and Fannie.
Throw in another 300 billion to buy up some treasuries and it adds a whole new meaning to the phrase "hot off the presses". Why didn't they think about this quantitative easing stuff sooner...... it is brilliant.
That outta teach gold a lesson...... 
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Registered User
Joined: 10/7/2004
Posts: 2,181
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QUOTE (snowplowguy) With the Federal Reserve committing this afternoon to buy up another 1.15 Trillion in mostly mortgage and agency debt it must be like Christmas in March over at Freddie and Fannie.
Throw in another 300 billion to buy up some treasuries and it adds a whole new meaning to the phrase "hot off the presses". Why didn't they think about this quantitative easing stuff sooner...... it is brilliant.
That outta teach gold a lesson......
Well, I don't know, I've said before that these strategies have investors so worried about the value of the dollar (and with good reason), safe havens may fly. I have positions in GOLD and FCX and they are both flying today.
On another note, please, everyone trade carefully; this insanity is only going to add to the insanity. So, eventually, we'll be worse off than we are now...I just don't know how long "eventually" is.
Final thought, re: trading FNM: I bought a large position at 0.42, just sold at 0.91. I suggest watching for pullback to around 0.70 first, if it drops through that I'd expect it to hit around the low 0.50's. If you get 3 consecutive days with successively lower highs of the day, start entering a conditional buy order one penny over each closing high of the day. You may get in at the lowest safe point.
Next leg up could be the ride up to $2 or $3. Sadly, this company doesn't deserve it but they're pulling out all the stops to re-ignite confidence. I have to be such a vulture but we might as well go along for the ride.
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Registered User
Joined: 9/25/2007
Posts: 1,506
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QUOTE (tobydad) ... this insanity is only going to add to the insanity. So, eventually, we'll be worse off than we are now...
Yep ...
QUOTE (tobydad)
I hate to be such a vulture but we might as well go along for the ride.
Well ... the government has never minded picking the meat from my bones ...
I'm just helping them along with the "redistribution of wealth" ...
Maybe just not in the way that they had planned ...
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Registered User
Joined: 10/7/2004
Posts: 2,126
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I am hoping you all riped the benefits off this trade. FNM more than doubled withing days of my post.
There was fire for sure - this is the second time this year I have timed this trade for you.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Hey BigBlock, we made a great team this time. You made us all aware of FNM and I told everybody the exact day to get in (my post on the 13th) and when to get out (my post on the 19th) and how to watch for a pullback (it closed at 0.70 on the 20th).
We should go into business together...or open a website or something.
Nice job, partner.
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Registered User
Joined: 1/30/2009
Posts: 267
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Take a look at the options open interest at the $2.50 and $3.00 strikes, especially for the Jan 10. Can anybody shed some light on this? There is a very good (possible) long term trade here with a 24:1 risk reward.
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Registered User
Joined: 1/11/2009
Posts: 36
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From checking Fannie Mae now trading at 70 cents it's using the 200/50/20 Day Moving Average a support level...........Any opinions on this................
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Registered User
Joined: 10/7/2004
Posts: 2,181
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If FNM drops below 0.65 I would expect it to retreat to the LBB20 before consolidating and taking off again.
If it climbs above 0.75, it may be time to get back on board.
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Registered User
Joined: 5/1/2007
Posts: 158
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Well, FNM is still outperforming the other banking stocks. Related question: I've been following EQR for some months - I usually get a buy signal before it goes up 10% or more. This time it's up 30% without a preceeding buy signal. Are the REIT movements going to continue, or do you think they are near done?
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Registered User
Joined: 2/21/2007
Posts: 797
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[QUOTE=tllucero. Are the REIT movements going to continue, or do you think they are near done?
I'm glad that REIT's were brought up. I read somewhere to stay away from trading them. Is this a true statement? Is there anything different about them than any other stocks?
Thanks for the help.
Can you all believe all the professional posts lately? This is great!!!
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