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Ouch! Ask stacking is huge @ $2.44.
Bearish momentum picking up. Buying opportunities coming soon.
I didn't trust that pre-market gap created on low volume. I knew the bears were going to crush it. They are stacking back up at $2.48 and reclaiming their turf.
If $2.46 don't hold, down goes Frazier.
I agree. That is why I am all cash right now, watching how it moves and monitoring news alerts. Until additional confirmation comes out to inspire confidence for bulls to buy, it's going to fall under the weight of the bears, who have shown up to kick ass.
Ask being thin is deceptive. As market makers are cleared out at one level, they will jump down to the next level if they have customers wanting to sell or cover at the next level.
They only show up once on Level 2. Notice you don't see NITE at $2.49 and then further down at $2.53 at the same time. Same thing for the Bid.
They can only show once for the best price they are representing at that given moment. Once they finish their business at that level, they move to the next best level based on their customers' orders.
Good lawd. Bears are hungry today. They are not playing around.
Watt gave ammunition to all pro-release folk. At the same time, he transferred some pressure off of himself to the Treasury and Congress.
I say "some" because Senator Johnson put a little fish hook in Watt by stating for him to engage the Treasury directly IF Congress cannot work it out. So Watt may not be reeled in right now but he has a hook in him for later capture, if need be.
We can't take the Bears too lightly. They are well aware that nothing "confirmed" is floating around. The Bears fought off the Bulls well yesterday.
Today, they may gain some of their ground back if no follow up comes through.
If someone from Treasury say something to the effect of "we are reviewing FnF for release from conservatorship", $15 could very well be achieved in a day. It would require major coverage from the shorts but at that point, the Bulls would have gained rock solid confirmation of release and they would crush the Bears bad.
Fannie is not your ordinary play. It has massive potential for long term success but in the short term, she is very news driven. A healthy level of skepticism is needed here.
Start using those stop losses, my man. They do wonders to help with the emotional roller coaster stocks can take you on if you let them. I know most people want to sell out at the top and make all the gains they can but that is not realistic. Better to have some stops (to manage your risk when a trade goes against you) and limit orders (to lock in profits as the stock climbs) in place.
I am actually in the middle of ClayTrader's Risk vs Reward course right now that goes over how to limit risk using stop losses and other things. Some of the strategies I am learning helped me bank nearly $1700 today out of Fannie by using stop losses, scaling out at profitable levels and more.
Trading doesn't have to put your heart in your stomach. There are strategies to help you manage your losses and keep them small and help you make money when the opportunity shows up. Don't let Fannie or any stock twist you up. It's not worth your health in the long run.
Nice! I will check those out.
BAA is a little too low priced for me. I like to play tickers $1 and above.
I am all cash right now so it's on my radar.
Good find, man. This board is on the case!
That's one helluva wall at $2.46. Geez!
Grabbed a nice $1700 profit out of Fannie today. Sitting all cash now waiting a little closer to December to scale in and pick up on dips. We need follow-up news on the release from conservatorship as these bears are not playing around with their fortress at $2.47.
Sitting on the side cheering the longs who are still in it. $FNMA
You may want to check out ClayTrader. His board on iHub is ClayTrader.com and the website is the same.
Lots of training resources available. I have learned a lot through his training program ClayTrader University.
$2.47 breached.
Agreed. This is a tough one.
These bears are tough as nails. They are defending that $2.47 area like a beast. Yowsers. We may need to hit it a few more times before it breaks.
Bears have their claws out at $2.46 waiting for us at $2.47.
$2.47 is going to break. Bulls keep bumping their head but we will break through it today.
$FNMAS - over 2.9M in volume - 1M block went through around 10:05.
Lol! Clay does slightly resemble the guy from the American Pie movies.
Clea Benson, one of the writers on this story, asked Freddie Mac's CEO during their most recent conference call about Freddie getting released from conservatorship.
Lol! Before we get to The Wynn, we need to get to the next support level and fend off the Bears.
This may sound far fetch, Risky, but it may be a security risk if information about government "thievery" regarding FnF come out. There can be militias in this country just waiting for the right time to "take their country back" and would probably bare arms and encourage other to work to overthrow the government.
If the government can release FnF and save face although they may have deceptively obtained FnF, it may be better than letting all of their misdeeds flow out and people rise up to overthrow the government using means that may harm many innocent lives.
Just my two cents before capital gains taxes.
Man, those senators put their shoes so far up Geitner's crack, he has pieces of shoe sole in his stomach.
No wonder a lot of men in government have grey hair prematurely. The level of grilling there was intense.
Good politicians play chess, not checkers. Sacrifice cash cow GSEs, make Daddy Wall Street happy again and have money pouring into your party's account come election time.
This is a money game more than anything else, unfortunately.
All of a sudden, the TV show "Scandal" on ABC seems like it can be based on quite a bit of reality in crazy land government.
Lol. Yup. I woke up around that time and haven't been back to sleep yet.
Lol. Is that a reference to the dream I posted about having earlier this AM?
Man, it felt so real. I was looking at level 2 in my dream and the stock was just moving up the chart fast.
Premonition? Who knows but today's developments let me know I need to stay put.
Must Read: The third paragraph's beginning, I did not catch earlier today:
http://www.banking.senate.gov/public/index.cfm?FuseAction=Newsroom.PressReleases&ContentRecord_id=d523b5b6-0efe-7979-dff3-6e03cfd71dfa
We could easily see $4 or more if shorts need 4 days to cover.
Watts knows the deal, man. He is aware of what is in place. He was struggling a bit not to reveal too much. You can see it in his face.
Things are happening but he has to hold his tongue until the right time. FnF are being worked out of conservatorship. He just can't confirm it right now. Take the mention of big changes in December and the first Q of 2015 as a strong clue that resolution in progress. He can't say no more.
Right on time, Clay! I was going to hit your board asking you for a chart but as always, you are on the case.
By the way, the RvR course gets better with every lesson. Thanks, man.
#CT University Class of 2015.
Lol!!!!
The pressure of Wall Street (government's daddy) is picking up. FnF will be released. Don't worry. With political contributions needed, either party is just spitting talking points regarding the wind down.
Watts looks like he was trying to find every word to say except wind down. He doesn't want to piss off Daddy Wall Street because both parties are going to need donors.
That's the game. Big $$$ run the country.
Nice! Putting a price alert on this one. If it smacks below $1 again, I am going all in. Security Registration usually produce a decline. I will be waiting this one out and eyeing and entry.