Fannie Mae (FNMA)

[Tincupx]

We wait and see what happens with major support and a clearly visible downtrend line that has been acting as a ceiling forever now. There is no room for price movement where we are, maybe a few cents up or a few down. Obviously which ever way it breaks will be a big move. Maybe something like last October when she fell down to what I believe was nearly .75 pre market before ending the day around 1.50? Not 100% on those numbers but it was significant. Or maybe we have a massive squeeze upward. I don't really see continued consolidation. If the trend line isn't broken we will hit 1.50 again. I own preferreds and a few thousand commons for fun day trading when there is volatility. If I had to place an uncomfortable wager on which direction it goes... I would bet upward. There is too much money invested here and I would follow that lead more than any piece of info you can find out there.