To me it means scaling down their role with the government and sending them private with new rules and regulations.

http://money.cnn.com/2013/08/07/real_estate/obama-housing-zillow/index.html?iid=HP_LN

Taking questions submitted online in an event live-streamed in cooperation with real estate site Zillow (Z), Obama reiterated in broad terms his support for scaling down government-backed housing finance firms Fannie Mae and Freddie Mac, a key theme of his speech in Phoenix on Tuesday.

"We're actually confident that the private market can step in, do a good job, and the government can be a backstop so that we still have affordability and 30-year mortgages," he said.

Obama said the Consumer Financial Protection Bureau will release new guidelines "as soon as the fall" in an attempt to simplify the mortgage-application process.

While he touted home ownership as a key aspect of the "American Dream," Obama also expressed support for an expansion of affordable rental housing, praising moves by institutional investors to buy and rent out residential properties. These investors, he added, can help stabilize home values in neighborhoods that have been blighted by foreclosures.

Obama touted immigration reform as another way to strengthen the housing market.

"We know that if we get immigration reform done, suddenly you've got all kinds of families coming out the shadows, paying taxes, paying penalties," he said. "They're also going to be really likely to buy homes, often times in some of the neighborhoods where you had the most foreclosures."

Throughout the discussion, Obama emphasized the importance of the housing market to the broader economy.

"This is where most Americans have their wealth," he said. "If we get that right, it makes a big difference everywhere else" To top of page

NICE... Are you holding through the after hours?

EW!

Oh wow I just pulled it up on L2. Never seen that before lol. It's almost guaranteed profit, no?

How sub can something go? .0001?

Earnings will be out tomorrow. watch... Last time freddie released early fannie released the next day

It was the same BS floating around then that is now. I mean now the president was talking about it. But back then the CEO of FNMA was interviewed and he even said being shut down was a possibility. It's the same BS coming from a different person's mouth. Perhaps we are seeing the same manipulation. I mean just looking at the charts that I have been comparing deeply, they look like they are following the same patterns. At least let's hope so. The run really started May 14, 3 trading days after earnings. It took 2 trading days after earnings to recover from the drop ON earnings day.

Just cause the media was twisting his words around. i saw "shut down" in quite a few different titles.

I know I have faith in FNMA. I am still holding. I've played the last 2 runs so I know how this works. People just expect it to go on the day of earnings and it has not done that in the past. People need to do some chart DD

I actually expected it to be a bloodbath today. So I'm thrilled it is where it is.

all impatient people:

When earnings was released in May, it actually dropped 15-20% that day. I thought it was game over at that point. I was like if it drops on earnings, goodbye! The May run actually didn't start until the week after earnings was released. When it dropped on earnings it rebounded back to around the .90 range it had been at for a while. Even for days after earnings. Then one day... Boom.. This run may not even start until next week. days AFTER earnings. like last time..

When earnings was released in May, it actually dropped 15-20% that day. I thought it was game over at that point. I was like if it drops on earnings, goodbye! The May run actually didn't start until the week after earnings was released. When it dropped on earnings it rebounded back to around the .90 range it had been at for a while. Even for days after earnings. Then one day... Boom..

When earnings was released in May, it actually dropped 15-20% that day. I thought it was game over at that point. I was like if it drops on earnings, goodbye! The May run actually didn't start until the week after earnings was released. When it dropped on earnings it rebounded back to around the .90 range it had been at for a while. Even for days after earnings. Then one day... Boom..

Can't take you anywhere! :)

Patience young grasshopper. I'm watching this like a hawk. The last run in May didn't start until a week after earnings. The day earnings came out it actually dropped 20%. This is our lotto here. I feel it. These charts just look too good (the last 2 runs and this one)..

It's back inside the BB's on the chart and it is also below all of the MA's. It could see a bounce somewhere here soon. If not right now.. I'm watching.. On the 15 minute chart its out of the lower BB.

If it didn't take a plunge today it's not going to. I played the last 2 FNMA runs and this one is setting up EXACTLY like those. If you aren't in now I would at least watch it, that's for sure. I've been holding this for a couple weeks now. Not to mention if you look at the chart, everything looks great. Nice and tight BB's that are about to expand.

Guys keep an eye on FNMA. Holding strong even after Obamas speech, FMCC released 5 bil income today and FNMA will come either tomorrow or Friday. It looks like this is setting up for a third run after all. KEEP IT ON WATCH LIST. I'm still holding 1.50s. I even held overnight. Figured I'd roll the dice. Ended up not being so bad. Do some DD and lock in a position now. I really don't think these 1.50s are going to be around very long.

Another bonus is "Obama: Phase out fannie and freddie" was on CNN's homepage and now you can't find it anywhere on the homepage and I can't find it on any other big name news reporter's site either. Guess no body cares about what he said after all lol.

I thought today was gonna be MUCH worse. I thought we'd see a dip into the 1.20s. I was a little nervous for my shares that I held onto. Fortunately its looking pretty good. FMCC fins today I would imagine FNMA will release tomorrow. Was FMCC supposed to release today? I dont understand why they just dont release on the same day anyway.

Anytime he says a word that starts with FA or FR I cringe for whats coming.

Obama?

I guess you have a point. Well said my friend.. Although i didn't hold through the dip to $1. I cut those losses quick and bought back at $1.14. Been playing boings ever since.

I agree. But after that massive gap down today I don't think i can hold again. If I wake up tomorrow and see it down another .30 I'm going to be extremely unhappy. I hate starting the day like that.

Ya I saw that. Different sites are saying different things. Guess I wont be holding over night if his speech is after close. f that..

This one says 3:05 EST
http://www.shallownation.com/2013/08/04/president-obama-phoenix-arizona-speech-video-august-6-2013-desert-vista-high-school/

3:05 EST.. Basically during power hour

It's at 3:05 EST

Ya... Basically he's gonna be talking during power hour..

It's actually at 3:05 EST

Please... Slap yourself so you wake up.

lol. I did buy some more even though I was mildly reluctant.

It will. This is gonna be a roller coaster day so buckle your seat belt and hold on to your panties!

Trust me... I agree.. Which is why I held. This morning I was reminded why that rule is in place. Learn a little every day..

Yes sir. I myself also violated one of my cardinal trading rules.. Never hold over night. Once I saw that news last night I knew today was gonna be ugly. But it's rebounding nicely.

That is the first time I've held strong through a shake like that. I'm normally out pretty quick..

I'm just gonna go grab a stack of clean underwear and keep them here at my desk. Maybe I should send my assistant to get me some depends

OMG. Fannie is going to be a rollercoaster today. I'm gonna need a room with padded walls by the end of the day.

Well I guess I need to go change my underwear now..