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1.94/1.95
LOL 1.63! eom
Gapper @ 1/63? eom
Opening flat again? 1.52/1.54
Long. eom
Fiscal Debate Weighs on Fragile Economic Recovery
Oct 17, 2013 10:35:00 (ET)
WASHINGTON, Oct. 17, 2013 /PRNewswire via COMTEX/ -- Incoming economic data show that growth slowed in the third quarter, although recent fiscal risks threaten a previously expected pickup in growth in the current quarter, according to Fannie Mae's Economic & Strategic Research Group. Consumers remain key to the outlook, but factors such as the recent federal government shutdown and the furlough of 500,000 workers, as well as the debt ceiling debate, which was resolved temporarily on October 16, appear to be weighing on consumer confidence and tempering real consumer spending. As a result of the fiscal events and the slowing momentum in economic activity from the second quarter to the third quarter, full-year growth is expected to come in at 1.9 percent, a slight downgrade from 2.0 percent in the prior forecast.
"Our October economic and housing forecast is largely unchanged from the previous forecast as we anticipated the modest levels of consumer spending seen toward the end of the third quarter. However, fiscal uncertainties associated with the federal government shutdown, the protracted negotiations to raise the debt ceiling, and the timing of the Federal Reserve's tapering of its asset purchase program, pose significant downside risks to economic activity in the current quarter," said Fannie Mae Chief Economist Doug Duncan. "In particular, the contentious Congressional negotiations that led ultimately to Congress raising the debt ceiling may have a lingering effect on consumer attitudes and spending, as was seen following the 2011 negotiations."
"On the bright side, these fiscal policy issues appear to have had only minimal effect on the housing market to date, which continues to improve overall," said Duncan. "Notably, the rapid appreciation of home prices during the past year has contributed significantly to household net worth gains and may help to cushion some of the fallout from the fiscal policy debate. Also, the Fed's continuation of securities purchases will likely keep mortgage rates low, enabling more homeowners to take advantage of refinance opportunities."
The problem is that this stock will stay flat until our dear government decides on exactly what to do with FnF and how to handle that move. ...And we all know how fast they act! LOL
If people don't have patience, they should flip it for the pennies. Otherwise, smart money says stay long.
Long. 5K @1.10 ave. Waiting for big play.
DrMerlot1- Will the 2-3.00 cover the dental bill???
This was a classic P n D. Need to be long and strong to make the finish!
I have a "filling" too. This stock is starting to give me toothe aches! LOL
1.57/1.58 is going up??
Open at 1.51???
RE:"Everyone who could sell and wasn't already at a huge loss sold." is an absolutely untrue statement. I could have sold, and at a very nice profit. However, many, like myself, have not sold.
It appears FnF will become two "holding companies", in which each will own 50% of the newly formed LLC. I think this can only happen if the gov releases C-ship of FnF. The LLC will have no ticker symbol. So, in essence, Fnf will act as one entity, through the new LLC.
Wish they had a "Like" button on here for some of these posts.
And, you know this how?
It appears the small selloff that I predicted this AM is coming to and end. Hopefully, we close around 1.49 today. Have a great weekend everyone!!
Looking at a small selloff today. ...Hopefully small.
Hey! I'll take 3-4% everyday till it takes off.
And the all finance....
(Reuters) - The U.S. economy appears to be faring better in the third quarter than analysts had feared with automakers reporting surprisingly strong August sales on Wednesday, helping to buoy expectations of a pullback in monetary stimulus ahead.
In another report, the Federal Reserve said strong demand for autos helped keep the economy on a "modest to moderate" growth path in recent weeks, an assessment that leaves the door open for a reduction in the central bank's bond purchases.
Auto sales rose 17 percent last month to a seasonally adjusted annual rate of 16.1 million units. That was the fastest pace since October 2007 and beat the 15.8 million-unit rate analysts surveyed by Reuters had expected.
It was also the latest sign that economic activity is picking up after hitting a speed bump in July and supported stocks and bond yields, although the dollar fell from a six-week high against a basket of currencies as investors looked forward to a key jobs report on Friday.
Auto sales are a key leading indicator of consumer spending, which accounts for about 70 percent of U.S. economic activity.
"We continue to head in the right direction," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania. "With vehicle sales above 16 million (and) a slow but steadily improving job market, the Fed is going to feel comfortable tapering in September."
The central bank has been buying $85 billion in bonds each month to keep borrowing costs low. It is widely expected to reduce that amount when officials meet later this month and a strong gain in hiring for August would cement those bets.
A raft of weak data for July, including figures on consumer spending, industrial output, durable goods orders and homebuilding, had prompted economists to downgrade their third quarter growth estimates to as low as a 1.5 percent annual pace.
But the strong vehicle sales suggested those forecasts could undershoot.
"It may be a sign that the consumer will add more to growth this quarter than we initially thought," said Sweet. The economy grew 2.5 percent in the second quarter.
The auto sector's good fortunes were captured in the Fed's Beige Book report, which found strong demand for motor vehicles lifted spending in most parts of the country in early July through late August.
The report, prepared for the Fed's September 17-18 meeting and based on information collected from its business contacts nationwide, said several of the central bank's 12 districts reported strong demand for auto-related products.
WBXU Breaking News after hours
BarNone Announces Strategic Partnership with ePath Media <http://trk.cpro20.com/Tracking/t.c?5xest-a2zie-r2pix65&_v=2>
LOS ANGELES, CA, Sep 24, 2013 (eTeligis.com via COMTEX) BarNone Media, Inc., a subsidiary of Webxu, Inc. (OTCPink: WBXU) and a premier brand in the automotive industry that provides auto leads to nationwide auto dealers, today announced a strategic partnership with ePath Media.
ePath Media provides high quality consumer traffic to the Auto and Finance industries. ePath Media has worked with thousands of consumers of all credit ratings who look to purchase vehicles and secure auto financing. With over 39 years combined experience, ePath Media's Managing Directors are reputable industry veterans with direct knowledge of automotive sales, dealer training, auto financing, vehicle manufacturing and advertising. ePath Media is uniquely positioned to generate tens of thousands of consumers who are shopping for an automobile.
Matt Hill, Chairman and CEO of BarNone commented, "We are extremely pleased to partner with ePath Media. Our market is growing fast and this partnership increases our exposure for our products to service the growing consumer needs. ePath Media has extensive advertising experience in the Automotive world and it is our intention to capitalize on the opportunity to scale with it. ePath Media has a veteran management team and a long history of providing high quality consumer traffic in our industry. We anticipate that their quality traffic will provide us with substantial revenue and added value to our nationwide dealership customers."
Bill Baskin, CEO of ePathMedia said, "We are excited to enter into this partnership with BarNone. We understand the auto dealership environment and their relationships with auto buying consumers. We intend to help consumers experience a friendly car buying experience and to generate quality sales for BarNone's nationwide dealership customers. We believe that combining our high quality consumer traffic with BarNone's dealerships will produce substantial revenue in the near term."
Tick, tick, tick, tick......
ETrade allows short sales, too.
The only ones making money on this one rught now are the Market Makers! Blech!!!
The only ones making money on this right now are the Market Makers! Blech!!!
FEDERAL NATL MTG ASSN COMBUYSELLFNMA:NSDQExtended HoursLast Price
1.71Today's Change
+0.17(+11.04%)Volume
200Bid (Size)
1.64x500Ask (Size)
2.30x500Real Time EH Quote. Last Trade as of 08:51:56 AM ET 08/08/13
Look for an opening @ 1.60.
Boomer... True, true, true.
RSI...
Wilder posited[1] that when price moves up very rapidly, at some point it is considered overbought. Likewise, when price falls very rapidly, at some point it is considered oversold. In either case, Wilder deemed a reaction or reversal imminent.
The level of the RSI is a measure of the stock's recent trading strength. The slope of the RSI is directly proportional to the velocity of a change in the trend. The distance traveled by the RSI is proportional to the magnitude of the move.
Wilder believed that tops and bottoms are indicated when RSI goes above 70 or drops below 30. Traditionally, RSI readings greater than the 70 level are considered to be in overbought territory, and RSI readings lower than the 30 level are considered to be in oversold territory. In between the 30 and 70 level is considered neutral, with the 50 level a sign of no trend.
It's a crap shoot at this point. But, I have made a lot of money playing craps!! LOL
Good luck you all. I am outa here for a 10 day vacation. Hopefully, when I get back, FNMA will be @ 2.00+. If it is still < 1.50 I will search greener pastures. Aloha!!!
Mikar- Only for now.
I think they (the Shorts) are running out of time for "playing" this one. Once decisions are made by the Feds/Courts, game over. FNMA should rise back to previous levels.
The Shorts are trying to suppress this stock. They are starting to feel the burn and see a SCORCHING future for them LOL
Breezy23- It already has.
Bid 1.60 Ask 1.60 Last 1.59 ~2M traded this AM.
Hope not to see the "funny trading" today as there was yesterday. Let the market roll on!!!!!
One thing about FNMA, it is interesting!! LOL
Why not. Catch the gap tomorrow.