Fannie Mae Preferred S (FNMAS)

[JosephS]

Common stock of FNMA today. I took my first substantial position in FNMA common today. I bought @ 3.33 for 90% of it and 10% @ 3.26. 95% of my FNF holdings are still the preferreds BUT..... I still think the warrants are getting cancelled and wanted an opportunity to participate. Relatively small investment for a possible huge gain. If the warrants get cancelled, it could see 60-80 in short order. (conservatively)

I don't plan on selling the position until this is resolved. I noticed people dogging the common today. I never bought the common @ 1.00 0r .29 when it was there forever!!!

Also keep in mind.... The MACD was super low today. About the worst I have ever seen it. I think this is way overdone on the downside.

All my conjecture and opinion. Not a recco in any way.