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Seems to have cooled off considerably, 4.17 x 4.18
Heya FFF,
No I did not buy in on Friday. I went with another ticker that has some potential that I am hoping will gain me more purchasing power for Fannie later this week.
It is possible now that the dust is settling F&F will make a strong move towards $5.00. I think there is still a gap at $3.80 so I will be watching for that too.
GLTU
I agree, but no matter how the wording is put together he is on our side when it comes to the sweep amendment. That is 100 fold better than not.
Ha, I thought everyone had ignored my post, I thouht Pat Toomey's responce was worth a little recognition from iHub.
I received a responce from my PA Senator, Pat Toomey on the letter I sent him regarding the GSE's. Here is his responce.
May 1, 2014
Dear James,
Thank you for contacting me about Fannie Mae and Freddie Mac. I appreciate hearing from you.
As you may know, Fannie Mae and Freddie Mac are government-sponsored enterprises (GSEs) that purchase mortgages, pool those mortgages into mortgage-backed securities (MBSs), and then sell them to investors with a guarantee that the investor will be paid on time. With over $5 trillion on their balance sheets, the GSEs play an enormous role in today's housing market.
In 2008 as the financial crisis erupted, the GSEs' ability to meet their obligations came into doubt. On September 7, 2008, the federal government took control of them and extended a direct line of credit from the Department of the Treasury (Treasury). In return for supporting the GSEs, Treasury received senior preferred stock that carried a 10 percent dividend and warrants to purchase 79.9 percent of the common stock of each entity for a nominal price. The remaining 20 percent of the companies remained in the hands of private investors. From 2008 to 2011, Treasury supported the GSEs through the purchase of over $189 billion in senior preferred stock. Since 2012, the GSEs have not required further Treasury support.
On August 17, 2012, Treasury and the Federal Housing Finance Agency (FHFA) dramatically changed the terms of the original GSE support agreement in what has become known as the "Third Amendment." Rather than receiving a 10 percent dividend on its preferred stock, Treasury would receive all GSE profits going forward. By claiming all future profits, Treasury effectively eliminated all remaining shareholder value.
While I believe that taxpayers must be fully repaid and receive a fair return on their investment, the Third Amendment unfortunately may have a chilling effect on future private investment in the housing market. If the government is willing and able to unilaterally change the rules of the game at any time, investors in Pennsylvania and across the country cannot be confident that they will not again find themselves in a situation in which the government wipes out the value of their investment. Lack of private investment could prevent us from successfully reforming the GSEs, protecting taxpayers, and encouraging affordable housing finance for all Americans. I therefore look forward to working with my Senate colleagues on both sides of the aisle on this issue.
Thank you again for your correspondence. Please do not hesitate to contact me in the future if I can be of assistance.
Sincerely,
Pat Toomey
U.S. Senator, Pennsylvania
Ok gonna give this yet another whirl...looking for a 3.75 buy in.
Of course my luck it will only go to 3.80 but gonna give it a whirl anyway, it is after all friday and nothing substantial has occured to drive the price up.
I will reconsider after lunch if I don't get filled, I don't plan to be out over the weekend.
GLTA
Yeah that kinda pissed me off so I sold again.
We never go up through the lunch hour, ever.
They got me this time but not again.
I should have bought at 3.84 today.
What the hell was the sudden move to 3.93 for? Jerks. Cost me $700.00 in losses. I will get it back on another buy in but still, faked me for sure bastards.
I find it peculiar that we moved up through the lunch hour so I bought back in @3.91 just in case there is some sorta run this afternoon.
Yeah so I chickened out today and got out at 3.87.
I don't like that there was next to zero momentum after the vote was stalled and I like it even less the days current events + a push for a vote tomorrow. Nothing positive and lots of negativity to go around.
IMHO it is highly likely we will see a lower pps at open tomorrow and more of the same until after this vote takes place, which is going to pass (or it wouldn't be happening) which in turn means we will see a much lower low tomorrow and a long struggle to return to 4.00 without very positive news from the courts or some shocking revelation that the reform is truly dead. DOA bills aren't DOA until they are and sadly this one is being a bit of a prick as we have all witnessed of late.
And if I am wrong and we go up tomorrow great, I will take the hit and buy in higher. But if I am right then I see another opportunity to add a few hundred shares and possibly up to 1000 depending on how low we go...3.60 or lower would be great, only if it stays down there and "consolidates" for a day or so to give everyone a chance to benefit. These drops and sudden .20 to .30 recoveries are very difficult to profit from.
Anyone else get out today in anticipation of a better buy back?
GLTA
I find it absolutely insane that "bailout" has become a bad word when it come to F&F. Actually that it is even being used to describe F&F is more insane.
Banks and auto industry received bailouts.
F&F were designed to be bolstered by the government in the event of a catastrophe...the system worked just like it was supposed to, and it would never have had to had the government stayed out of housing in the first place rather than force banks to extend loans to mortgage applicants who couldn't afford the loans they received.
This is so insane I swear I think I am in wonderland.
Without the sweep amendment Fannie and Freddie would have significant reserves to buffer any "disaster", or at least they could have been building those reserves.
I truly hope when this is used as an argument during the markup and vote, that someone with balls stands up and points this out. Actually I would rather see a news outlet pick up on that and run with it today.
Wow, thanks. Truth be told though I have had very few friends throughout my life, people don't like straight talk...especially from a friend, which is exactly who I would want it from.
Thanks for giving me a nice start to my day.
Ha! Too funny, when the going gets good look who shows up with his crystal ball. Where the heck were you with all your wisdom when things were in the shitter?
You can send that directly to AAF:
http://americanactionforum.org/about/contact
I sent an email to the American Action Forum, it would be great to see others who are more informed than I am do the same.
Dear AAF;
Your poll is so biased and disingenuous it makes me wonder how you folks sleep at night. Whoever is funding your business must have very deep pockets.
You intentionally started your poll by stating "As you may know...", that is a very duplicitous game when most people will prefer to act informed when that assumption is in their favor.
It is a FACT that the government played the biggest roll in the collapse of the mortgage market by "encouraging" lenders to provide loans to minorities who were less than able to sustain or repay those loans. It was the grossest social experiment in recent American history and it caused many people much heartache and loss.
Why don't you do a poll now and provide accurate information on the 18 or so multi billion dollar lawsuits being lost by the banks that sold Fannie Mae and Freddie Mac bad loans to begin with.
How about you do a poll asking people what they actually know about the history of Fannie Mae and Freddie Mac, and what they actually know about the truth behind what led to the housing bubble financial crisis. How about you see if people know that without Fannie Mae and Freddie Mac the 30 year mortgage would be GONE. How about you do a poll to see how many people know that these organizations do NOT have an explicit government backed guarentee, but they will if Obama and friends get their way. How about you do a poll and see if people actually want to federalize the housing market.
How about you do an honest poll rather than loading the poll with psychological bullshit.
The American Action Forum...should be placed into government receivership and its profits absorbed by the government with no restitution to the employees or stock holders or benefactors of the American Action Forum.
I look forward to the demise of your organization just the same as you are promoting very unfairly the demise of the company in which I am a shareholder.
Regards,
A Fannie Mae Shareholder.
I am a bit miffed that 4.05 was the best we could get and in under an hour we are down .10 from the hod.
After weeks of fretting and contention, finally a very positive sign and the fireworks are over so quickly. Highly disappointing. I seriosuly thought that news was worth .50 cents to a dollar and hold after for at least a few days.
Ok done with the rant, for all we know word still hasn't gotten to the deeper pockets and the late sleepers.
Keep the faith.
You people with this 1111 insanity. It is infectious please stop lol. The other day I was donig something on the web and I swear that number jumped out at me enough times to give me pause.
I was hoping for a significantly larger gap in the .50 cent range all things considered. Gonna stay in a few day and see where we top out at. Today we should see how much this vote mattered, difference is we see it on the good side of the mirror.
Thanks. Feels great to fnially have made a couple good choices that weren't random but based on what I have learned.
I see that gap as a "get out when I am ready" and I already have my reenty point. The gap won't worry me, it is above my avg. so for me it works either way.
GLTY
p.s. getting closer to being able to have fluff shares, and a core, but not quite there yet.
Glad I chose to get back in yesterday. I knew I didn't want to be out, but it was not an easy decision.
There is no one to "believe". It seems you may be banking on what people here say in iHub? I hope you meant you can't believe what politicians say, that I can on board with.
You posted several times about how nervous you are about tomorrow.
When I got nervous I got out. I slept better and found the drive home much more peacefull.
Here is something for you to think about, I said it the other day regarding my own trades. Choose the highest amount per share you would be willing to spend to buy in. For me it is $5.00. I sold and decided if I missed the initial pop I could still have time to get in under $5.00, if the whole thing dives to wherever, I will be out with my money in tact and be able to buy back in for sustantially more shares.
One might incur a high tax, that can be made up when the pps doubles or triples or better in the future. So if you sell keep aside money for the tax hit, and buy back in when things have settled to your comfort level.
I did personally decide to buy back in yesterday, personally I don't see us going below 3.60 ish...we did yesterday for about 2 seconds and suddenly there was 600,000 buys, this happened twice. That is about enough evidence to me of support. There are buyers in that range and they will still be there even if the vote passes today.
Good luck, don't trade because you "trust" anyone on iHub. That is a huge mistake.
Maybe that commercial is our "leak".
Well I decided to buy back in at 3.78. I did try from 3.75 up but wasn't getting filled. For most of the afternoon it appears the buyers hve been gaining control so I am expecting an upswing EOD into the low 3.80's.
If it doesn't happen then hey, I still hv more shares now than I had friday when I sold. THough I really would like to have gotten those shares at 3.60, that would been a lil over 1000 shares to the + side. Another day, at least I am staying ahead of my share game.
With any luck something will leak and we will blow up tomorrow early and put us all out of our misery so to speak.
GLTA.
I am with you, I haven't commited yet, but to be honest woul dlike to have gotten back in at 3.60...I got caught up at work and didn't put in the buy. I be a buyer later today in the 3.66 to 3.74 range. I think we could see another "dip" in the morning if not EOD before the days session opens.
GLTA
Pretty absurd people calling others weaklings and weak hands and all those other negative comments. 24 hours before a do or die vote that we all know could seriously tank the stock I find it pathetic that anyone here would judge someone else or try to use social pressure to convince others to stay in. It isn't your money and it ceratinly isn't a contest. Save ur testosterone for the gym
I applaud any person for getting out or staying in. The decision is not an easy one to make and sorry but not much point in throwing money down the drain just to prove to no one important that you are not a lemming.
Make your own decisions today so that tomorrow you only have yourself to thank or so you can accept the outcome without being angry at someone else. There are enough people in the world angry with someone else.
I agree, didn't happen on Friday but will likely happen on Monday w/o good news.
FFF - sorry for the delay, had no internet when I got home yesterday (no Friday night gaming, I as a bit miffed). Anyway, no I did not get back in and glad for it. IMHO there is zero reason for the pps to go up on Monday and every reason for it to go down. I look at it this way, I am willing to pay up to $5.00 a share to get back in which will leave me with about 1200 shares less than what I got out with at 3.94. That can be made up once the volatility returns. So, will I miss the "run" if the bill does not go to a vote on Tuesday? No. I will have time to get in and still have a comfortable position.
Now, if the pps should drop even further between Monday and Tuesday then I stand to gain more shares and possibly a substantial amount of them. If the vote takes place and passes look out below, I don't see a significant recovery to above 3.50 until release or until the bill is bypassed one month from now, meaning it is not presented for a full vote (sorry my civics vocab is not what it should be for this conversation. So this time I feel more comfortable being out rather than in.
Without significant news nothing will happen of any significance unless "you" are trying to gain a few more shares. Longs who got in in the teens and hold a large position have little reason to flip and even less reason to worry about loss (one of the reasons I find this iHub atmosphere of GLA Longs but not anyone else bothersome, those longs have a very favorable position and are a bit conceited for my own tastes).
Personally, I think anyone putting there money in the stock market is playing against the house, and if you have ever sat at a BJ table you know everyone roots for the players no matter if you have 1 chip or 50,000, no one ever roots for the house, not even the dealer. Presently I think the dealer has the favorable deck but tides turn quickly in any game of chance, just don't be in the bathroom when it happens :) Sorry just had to get that out too, no offense to anyone in particular.
GLTA - Frdm
I got in first time at 1.70...it fell to 1.30 then roze to 6.30 ish. I saw the news that day and noted that nothing was happening on the market, just a flat line. I didn't sell until it hit 4.30 ish. Knocked out 1/3 of my paper gains and earned me a 7,000.00 tax bill for 2014. I figure now any gains is on the minimum gain as opposed to the max so now I am flipping when I can and if I flip on a slight loss I am ok with that for tax purposes as long as I end up with more shares in the end.
GLTA - Have a great weekend.
I know the feeling, In or Out, In or Out both can be nerve wrecking. I am still undecided on getting back in today.
IMHO I don't think beneficial news is comming for us this weekend, these Senators and Congressmen don;t want to lose, thier reputations and possibly their wealth and futures depend on how well they "show" in this fight. It gonna be a bitter cold summer I think.
In the end, they lose, but they are gonna pull the ship under with them if they can.
I think looking bad is applicable to the people deciding if they re giong to try and flip this or hold over the weekend.
I am one of those people and I do not think things are bad over all, just for today and it works for my choice to sell earlier at 3.95.
I have been down this road several times with this stock and each time have been on the opposite side of being able to gain shares. This time I am goin with what I have seen in the past on friday, in the past withno volume, in the past with "bills" on the horizon.
Over all, we are in great shape and yes moving up in the big picture. But don't forget, money can be made in the microscopic pictuer too. Me, I am just hoping to double my shares before the pps goes above 5.00 permanently.
So take the "bad day" and "not looking goods" with a grain of salt, there are several types of buyers sellers and holders on this board. None are wrong, all are taking a risk.
Thanks investordisciple.
I chose to get out today at 3.95. Three times it tried 3.99/4.00 and since has slowly been sliding downwards.
I figure we have a few things working against us, a relatively unsuccessufll run/spike recenlty that made little gains, low volume again, April 29th looming, Friday/weekend, likelyhood this will drop to 3.70 or lower come Tuesday and general anxiety due to the last 3.00 drop.
So, I got out and will see where we end up between now and Tuesday. If we drop today I will get right back in today, if we go up I will sideline until Tuesday. Even if I have to pay over 4.00 to get back in I won;t be too bothered, I can make it up later when the volume and volatility returns.
I would also add that when we went below the 3.90's it took my balance below my "comfort" zone, today I am just above the zone and don't want to be frustrated for the weekend should we fall below it again. Mind you my comfort zone is just as arbitrary as anyones, it is like feeling good at 100.00 but feeling cheated at 99.99. Not sure that makes any sense to anyone else as it isn't technical and it isn't skilled investing.
GLTA - hopefully we stay in this mid 3.90's range until after the vote...not at all likely but would be nice for everyone concerned.
yeah definately hard to decide what to do.
Ha thanks. I have been in since my 4.04 flip and seething the entire time over the slow move down to 3.74.
I considered trying a flip at 4.04 today on the bounce but decided against it. I am just happy to be near my green line again so I will savor the moment and see aboutfliping once we get past this Crapo nonsense. Though, I will admit I am considering getting out before then as I think there will be a drop on friday or monday, then depending on the outcome a recovery of some sort.
GLTA
No Joint Status report - might mean everyone is playing nice together and could be a good signal to investors. <crosses fingers>
New Out usually means an official news release by the company.
Please stop posting New Out crap that is not NEWS.
That is an excellent post and a really interesting pov.
I fear you may be wasting that great pov by only leaving it posted here. That would be an excellent post to send to government representatives, maybe you could start with the Investors Unite and email it to them, they may be able to do much more with it.
I just finished emailing my two PA Senators as well. Senator Toomey and Senator Casey with the following *(repeat):
Dear Senator Toomey/Casey;
While some reform of the GSE's (Fannie Mae and Freddie Mac) may be in order, there is absolutely no need to take the wrecking ball to these 70 year old institutions that functioned in a crisis exactly as they were intended to. Additionally the GSE's should be released from Conservatorship immediately and uplisted to the NYSE where they belong. It is time Senators and Congressmen learn about what they are voting for and stop waiting for the bill to pass to see whats inside. Need I say more? I won't take up your time with mundane facts you surely have read and researched for yourself. Do not follow the herd, vote to restore the GSE's to the investors and work with congress to enact rules and guidelines that will boost the services these two organizations provide to the greatest country in the world. Vote against the Johnson/Crapo bill, tell them Pennsylvanians aren't interested in playing games with the country's housing market they would much rather see people held to account and justice delivered.
Regards XXX
I wrote my Cnogressman today via his web email.
Dear Congressman Thompson;
While some reform of the GSE's (Fannie Mae and Freddie Mac) may be in order, there is absolutely no need to take the wrecking ball to these 70 year old institutions that functioned in a crisis exactly as they were intended to. Additionally the GSE's should be released from Conservatorship immediately and uplisted to the NYSE where they belong. It is time Senators and Congressmen learn about what they are voting for and stop waiting for the bill to pass to see whats inside. Need I say more? I won't take up your time with mundane facts you surely have read and researched for yourself. Do not follow the herd, vote to restore the GSE's to the investors and work with congress to enact rules and guidelines that will boost the services these two organizations provide to the greatest country in the world. Vote against the Johnson/Crapo bill, tell them Pennsylvanians aren't interested in playing games with the country's housing market they would much rather see people held to account and justice delivered.
Regards,
xxx
One difference that might matter....FNMA and FMCC are not start ups, they are well establised businesses with very ong histories. So once the word gets out that they will be released, uplisted and not wiped out...well not so sure I see a dump first, unless their is serious insider trading.