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Effective March 16, 2020, the Federal Open Market Committee (FOMC) directed the Open Market Trading Desk (the Desk) to increase over coming months the System Open Market Account (SOMA) holdings of Treasury securities and agency mortgage-backed securities (MBS) by at least $500 billion and at least $200 billion, respectively.
The FOMC instructed the Desk to conduct these purchases at a pace appropriate to support the smooth functioning of markets for Treasury securities and agency MBS. The FOMC also directed the Desk to continue rolling over at auction all principal payments from Treasury securities holdings and to reinvest all principal payments from agency debt and agency MBS holdings in agency MBS.
https://www.kitco.com/news/2020-03-15/New-York-Fed-full-statement-Treasuries-mortgage-backed-securities.html
So honestly, who do you think should be trotted out to calm trading fears? Honest question.
I just saw on cnbc that children who contract covid19 show fewer symptoms and milder symptoms. This makes them harder to detect.
That is the way to put the point if you are trying to get the attention of investors.
BUY BUY BUY
GO FnF!
I guess Jesus doesn't love FnF!
That's o.k. I do.
Go FnF!
here is the Mnuchin/Cramer link
Mnuchin doing a good job talking to Cramer this morning
dow futures now +1,100
As Steve Mcrosky would say: " I picked the wrong day to quit sniffing glue!"
Come back FnF!
Tom Hanks and Wilson have the coronavirus. NBA suspends the season. Dow futures down 1231.
We are fine.
Those $1.00 shares are less of a dream this morning.
WILSON!
Only the courageous and/or foolish here. Time will tell which we are.
Go FnF!
You have my sincere gratitude. So does everybody else that is buying up these cheap shares. We touched $2.01 and less than 6 mil. shares traded. We could not have bought them without your indisputable influence. Thank you!
Go FnF!
Only us fool hardy or very brave left down here in the deep.
Go FnF!
Every day, almost 3,700 people are killed globally in road traffic crashes involving cars, buses, motorcycles, bicycles, trucks, or pedestrians. More than half of those killed are pedestrians, motorcyclists, and cyclists. We better stop building roads!
My order for 4000 more shares filled at $2.02. All of the reasons that I first bought FnF years ago are still valid. Nothing has changed. If I am wrong and this is the beginning of the apocalypse money or stocks do not matter. I think that this sell off may be the largest knee jerk pure panic sell off in history. We will see.
Go FnF!
My buy limit order for 4000 more shares is in at $2.02. We should stay above that now.
Go FnF!
Good news everybody. This crisis is being compared to the financial crisis of 2008.
The good news is the government can not blame the coronavirus on FnF. They will not place FnF into conservatorship.
OOPS!
GO FnF!
Fannie Mae transfers $8.7bn of mortgage risk to re/insurers
10th March 2020
The Federal National Mortgage Association (Fannie Mae) has completed its first multi-tranche Multifamily Credit Insurance Risk Transfer (MCIRT) transaction of 2020, covering a pool of $8.7 billion of multifamily loans. The deal marks the eight Multifamily CIRT transaction undertaken by Fannie Mae as part of its efforts to increase the role ... Read the full article
https://www.reinsurancene.ws/reinsurance-news/
GO EASY ON G-FEEs — With talk of more fiscal stimulus measures in the works, the Mortgage Bankers Association, the American Bankers Association and the National Association of Realtors led an industry letter to Congress Friday warning against hiking Fannie Mae and Freddie Mac’s guarantee fees as a “piggy bank” to offset new government spending. Letter here.
https://www.politico.com/newsletters/morning-money
Tomorrow could be the day to pick up $2.02 shares.
(The 52 week low) Hopefully recovery soon after.
Go FnF!
Well I um. Jeez, I sure don't want to spoil the fun. It definitely is the bottom for today.
Go FnF!
Well we sure did not follow the market up. My bet is that we will follow it down next time. I bet I get my 52 week low purchase of $2.02. After that we ride up to the 52 week high of $4.23 and beyond.
Of course I will be happy with court news that sends us to a new 52 week high tomorrow.
Go FnF!
Hey now, don't hate the players. The game is rigged. Hate on the S.E.C.
The only way to win is to hold until our sterlinged reputation judicial branch rules. I mean announces. I mean hold until the settlements are complete so that the rulings are never made public.
Shit...
United States
Coronavirus Cases:
729
Deaths:
27
Recovered:
15
https://www.worldometers.info/coronavirus/country/us/
Live updates: Coronavirus death toll passes 4,000 worldwide
https://amp.cnn.com/cnn/world/live-news/coronavirus-outbreak-03-10-20-intl-hnk/index.html
EU Parliament cuts length of plenary and scraps votes due to coronavirus
Plenary session had already been moved from Strasbourg to Brussels
https://www.politico.eu/article/coronavirus-eu-parliament-cuts-length-of-plenary-and-scraps-votes/amp/
This supports my opinion that there will be more down side. I had not considered Trump making premature positive claims. I will wait for more bad news. If we go up from here I have plenty of shares. If we drop to $2.02ish I will scoop up more. Which country will quarantine itself next?
Catholic Church in Rome cancels all Masses, announces day of fasting and prayer
https://www.foxnews.com/world/coronavirus-update-rome-mass-catholic-fasting-prayer-day.amp
Ok I signed and contributed $30 because all donations over $25 are doubled. Pretty soon that will be 15 fnma shares. What was I thinking? Oh well it is a good cause to help battered shareholders.
Go FnF!
Incredible buying opportunity.
Go FnF!
I love the possibility of buying $2.00 shares. I don't need more but how can I resist?
Go FnF!
DOW JONES INDUSTRIAL AVERAGE (^DJI)
25,964.01
739.31
2.77%
Mar 3, 2020 1:47 PM EST
Prev Close26,703.32
Open26,762.47
Day Low/High25,945.74 / 27,084.59
52 Wk Low/High24,680.57 / 29,568.57
Volume344.82M
Dow Jones Industrial Average
.DJI:Dow Jones Global Indexes
Real Time Quote | Exchange | USD
Last | 11:43:05 AM EST
26,333.27
-370.05 (-1.39%)
Check out SCOTUSblog (@SCOTUSblog): https://twitter.com/SCOTUSblog?s=09
He probably unloaded all of his prefs today after he got a deal on commons last Friday. We will see if he starts talking the commons up now.
Fo FnF!
Wow dow up more than 1200
We are doing well. Did somebody cure the coronavirus?
Go FnF!
So.... I scraped together another hand full of cash. I was going to buy more today but I will wait to see what Monday brings. I should have grabbed some this morning around $2.50 but I was not watching. Maybe we are not finished with this orchestrated sell off. There could be more fear mongering over the weekend. Monday it is. I never planned on having so much fannie. Maybe one day big will be beautiful.
Go FnF!
Get more below $3
This is an old routine for FnF. Each time is an opportunity to buy more while waiting on the courts or settlement. We will regain the share price and now I have 3000 more shares. I don't need more shares but each time we have this kind of drop I just can not help myself. I have to buy more.
Go FnF!
I am very happy with this morning's purchase of Wonka tickets!
Go FnF!