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31 cents to go!
They must pay the Pied Piper at some point. Bunch of rats...
Especially with things as out of whack as they are now. Nobody knows where or how to value anything. Companies that are beating expectations lose 10%. The market is confused, IMO...
Good luck with all of your predictions too! I really don't care who is wrong or right today. It is all a bunch of insignificant hot air, IMO.
I think FNM will close green today. Even if I am wrong, there is no way I am selling today. We had 17 straight red days before this run up. Much more gas in Fannies tank.
I think we will finish strong today. Even if we don't, the dollar volume at these levels is very good for the future of this stock. Follow the money, it is here. Institutions supposedly own 99% of this pig. Where are all the shares coming from? 20% loss after a 3 bag gain is to be expected.JMO.
Lets not forget the gap between 1 buck and 10 bucks!
'Larry Larrison'...cool name...
2 hours of trading, over 100 million shares traded...hmmmm...
This doesn't leave alot of shares trading. Especially given the amount of shorts still out there.
...% Shares Owned = 99% ...
The criminal argument goes both ways. If they forgot to print it, then don't print it, the bears could cry foul. MM's are off the hook, they would say they are just doing their jobs. IMO
Yup, 1.16
Lots of eyes on this now, I wonder if they will try their price drop shenanigans today...
Thanks, and may my birthday be the start of the fulfillment of all your dreams,lol...
I am happier and more effective not putting any short term price expectations on this play. There is way too much potential, IMO.
Alright, I see your perspective. I am sure you can see mine, you are obviously a smart guy if you are long FNM. Let's just go back to having fun. It is my birthday. Seriously. I apologize. And it is my birthday. Weeeee?
Well I apolgized nonetheless even if you think it was half-hearted. I don't spend my time DD'ing posters, if I can help it. As far as your position, I will take your word for it. Your timing was just interesting to me, especially since it is a two day old article.GLTY!
I apologize for being aggresive towards you. I still question your timing. GLTY(unless you are short)
I see it. Somebody should tell the SEC, IMO. Still pretty shady of them(RTT). Your timing is pretty interesting. Guess it was an amazing coincidence that you noticed an hour before the weekend.
He's frantically creating a webpage show he can show us a link, lol...
Shady, shady, shady...tsk,tsk...
You switched words around,IMO. How about a link, so we can verify if that was how the newswire was written? Notice how closely this article is worded just like yours. The intention is to get the price up over a dollar. R/S is an option. Pretty slick.
Fannie Mae to bring up share price to remain listed on NYSE
11/26 03:13 PM
SAN FRANCISCO (MarketWatch) -- Fannie Mae (FNM:$1.0199,$0.3099,43.65%) said Wednesday that it intends to bring the share price of its common stock above $1 in a bid to remain listed on the New York Stock Exchange. As a part of this effort, Fannie Mae (FNM:$1.0199,$0.3099,43.65%) is working with its conservator, the Federal Housing Finance Agency, to determine what action to take. "If necessary to bring its share price and its average share price for 30 consecutive trading days above $1.00, and subject to the approval of the U.S. Department of Treasury, Fannie Mae (FNM:$1.0199,$0.3099,43.65%) has advised the NYSE that it may undertake a reverse stock split in order to cure the deficiency by the May 11, 2009 date," said Fannie Mae (FNM:$1.0199,$0.3099,43.65%) in a statement. If the company fails to meet the deadline, the NYSE will initiate suspension and delisting procedures. Fannie Mae (FNM:$1.0199,$0.3099,43.65%) most recently traded at 73 cents a share.
Thanks, happy T-Day to you and any other FNM longs. Shorts can eat crow...
Lots of volume, held good...
Fannie Mae Steady Near Day Highs Ahead of Closing Bell
11/26 03:50 PM
03:50 PM Eastern Standard Time, 11/26/2008 (MidnightTrader) -- Fannie Mae (FNM:$0.71,00$0.24,0051.06%) is straddling the 0.72 level as the closing bell approaches, holding just below its day high of 0.77. The stock has seen a heady run higher today on the heels of more optimism over financial shares as well as the company's announcement Tuesday night of the appointment of a new CFO.
Price: 0.71, Change: +0.24, Percent Change: +52.7
http://www.midnighttrader.com
That would bring us much higher, IMO. That would mean the bears lost complete control...
They have until May 31, I think looking at the big picture, this is just a glitch. Lots of ways to make a stock go up, especially if you have the money. I wonder if they have any access to money...
We are at almost 100M, looks good to me...
I think we have a half day friday.
Balance is good. We bought because we believe the price will be much higher. This wont be a problem when that happens.
I think it gives them a reason to address the common shares, especially it's price. 3 months ago, nobody cared, and there wasn't a reason for them to do anything about it. R/S is a last resort, IMO. They will try other means until then, it wont take much.
Fannie Mae-FNM expects to meet continued listing standards
11/26 02:59 PM
On November 26, 2008, Fannie Mae (FNM:$0.75,00$0.28,0059.57%) advised the NYSE of its intent to cure this deficiency by May 11, 2009. Although Fannie Mae (FNM:$0.75,00$0.28,0059.57%) is currently working with its conservator, the Federal Housing Finance Agency, to determine the specific action or actions that Fannie Mae (FNM:$0.75,00$0.28,0059.57%) will take to cure the deficiency, Fannie Mae (FNM:$0.75,00$0.28,0059.57%) has advised the NYSE, that, if necessary to bring its share price and its average share price for 30 consecutive trading days above $1.00, and subject to the approval of the U.S. Department of Treasury, Fannie Mae (FNM:$0.75,00$0.28,0059.57%) may undertake a reverse stock split in order to cure the deficiency prior to the May 11, 2009 date. Fannie Mae (FNM:$0.75,00$0.28,0059.57%) expects to determine the actual number of shares that will produce one share of common stock as a result of any reverse stock split based on both the market price of Fannie Mae?s common stock prior to announcement of the split and additional input from FHFA and Treasury.
Time to short the shorts...
Treasurys Rally, Long-End Races Higher On Mtge-Related Buying
11/26 01:40 PM
NEW YORK (Dow Jones)--Longer-maturity Treasurys outperformed again Wednesday on hedging-related buying that came in thin, bouncy trading ahead of the Thanksgiving holiday.
The bond market closes early at 2 p.m. EST (1900 GMT) on Wednesday and is shuttered on Thursday for Thanksgiving.
Buying Wednesday sparked the 10-year yield to hit a historic low of 2.98% and the price of the long bond to rise at one point by more than two points. Yields move inversely to price.
The rally added to big long-end gains Tuesday spurred by the government's pledge to dedicate up to $800 billion to support consumer lending and mortgage- backed markets.
Meantime Wednesday, the slew of economic reports squeezed in before the market's early close were almost all downbeat, helping the bond market to rally. Durable goods orders plunged by more than double the forecast, personal spending fell, new home sales slipped and consumer confidence weakened again.
Shorter-term Treasurys were lifted as well, though less so than their longer- term peers. The two-year yield dipped as low as 1.07% but was up just 3/32 at 1.11% in afternoon trade.
Wednesday's rally was a "combination of convexity hedging, the recession sinking in, and the continued view of Treasurys as the safe haven," said Jerry Webman, chief economist and director of fixed income at OppenheimerFunds in New York.
Treasurys' benchmark yield curve, the gap between the two- and 10-year yields, also continued to flatten as longer-term Treasurys remained more in favor. The curve was at plus 190 basis points in recent trading compared with plus 194 on Tuesday.
Tuesday, the Fed announcement of its new programs to help the mortgage market and consumers set off strong demand for agency bonds and agency mortgage-backed securities, causing MBS dealers to remove hedges against interest rate swings by buying long-term U.S. government debt. News of the new rescue programs also drove mortgage servicers and portfolio managers to buy longer-dated Treasurys in order to hedge against the risk of falling interest rates after the rally in the MBS market.
Those hedging needs continued into Wednesday's session.
The latest government rescue effort, the Term Asset-Backed Lending Facility, or TALF, will start next week, with the Fed buying $100 billion of mortgage finance company debt. It has also pledged to buy up to $500 billion of securities guaranteed by Fannie Mae (FNM:$0.7337,$0.2637,56.11%) , Freddie Mac (FRE:$0.7932,$0.2632,49.66%) and Ginnie Mae, to help support the mortgage- and student loans markets. The Treasury will also help backstop up to $200 billion of lending to investors in high-grade debt such as student loans, credit-card and auto loans, and small business loans.
The programs are key as they mark a turning point in policy makers' approach - moving from simply providing liquidity to outright buying of debt. For the Treasury market, the programs are a crucial new force that will drive prices.
The programs create "a structural demand that changes the fixed-income market, " said George Goncalves, chief Treasury, TIPS and agency strategist at Morgan Stanley (MS:$14.21,00$-0.06,00-0.42%) in New York.
In the near-term, longer-term Treasurys and the belly of the curve should outperform as hedging-related buying continues to make its mark, Goncalves said, at least until quarter-end.
Longer-term though, going into 2009, Treasurys could be headed for darker days if Fed programs show signs of working and interest in riskier assets improves.
Meanwhile Wednesday, there were more improvements in money markets following the Fed and Treasury announcement, even though Treasury bills were surging once again, with the three-month bond equivalent yield pushing back toward zero late afternoon.
Still though, interbank lending rates continued to improve. The key three- month U.S. dollar London interbank offered rate fell to 2.18125% from Tuesday's 2.19625%, while the one-month drops to 1.43125% from 1.43625%.
-By Deborah Lynn Blumberg, Dow Jones Newswires; 201-938-2018; deborah.blumberg@dowjones.com
(Min Zeng and Emily Barrett contributed to this report.)
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http:// www.djnewsplus.com/al?rnd=CvsyNdtZ0JgBkppd%2FRLX6w%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
11-26-081340ET
Copyright (c) 2008 Dow Jones & Company, Inc.
It is kind of a shock to your mental image, though. At least it was for me. She became reassuring to me eventually. I dont mind her. Great entertainment.
Brute is a she...
They were trades that they(MM's) "didn't have the time" to print while FNM dipped earlier in the day. If they didn't do it they would have gotten in trouble. So, they had to do it. The important question, IMO is, "Did it benefit the MM's to do it?". He who laughs last laughs loudest.
Detailed Quote for Fannie Mae (FNM)
$ 0.47 0.13 (+38.24%) Volume: 93.91 m 4:04 PM EST Nov 25, 2008
After Hours: $ 0.60 0.13 (+27.66%) Volume: 13.25 m 7:05 PM EST Nov 25, 2008
.47 close,LOL...