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Go time.
I'm sorry, and this is just my opinion, but anyone who still thinks the GSEs are going to be wound down at this point is either delusional or has an agenda. Or both.
Not really surprising to me--a 5% pullback after 2 week uptrend is necessary. The news kept the trend intact imo. *By the way anything I post on here is just my opinion.
The candle sits at $2.80 and the wick stretches to nearly $2.95 but I don't rely on any one area either. I also agree with you on volume and price action. If we see volume pour in like it did yesterday should be interesting day.
Keep in mind that indicators are just guides, not scripture. But that is a bullish signal.
Absolutely agree with that.
There is an inverted hammer candle on $FNMA daily with a massive upper shadow.
IMO, profit taking and short sellers at $3. A 5% pullback after a nearly 2 week uptrend is healthy and normal. Support held/no sell offs.
It wouldnt surprise me if we hear something this week about NWS ending given all the news recently about GSE's need to retain capital.
He's all about "math" and "business" so I'm sure he's read the 10k. LOL. (he didn't read the 10k)
Yes charts are just scribble scrobble. You're 100% right. Throw out all the charts.
Charting is a guide, nothing more. Charting is a guide both on a daily basis and from a historical perspective. And you mean fundamental analysis which, yes, that should be in your toolbox. Also yes, there is no crystal ball. Charts arent crystal balls. I'm done here brother.
You're talking about valuation and I'm talking about charting. However, there is also valuation charting and Peter Lynch is a big proponent, maybe you've heard of him. Investing based on valuations alone, as you contend, without even looking at a chart (at least historically at a bare minimum) is like reading a menu, ordering your food and eating it with a blindfold on. True technical investors are not gamblers. Gamblers are gamblers. And I also hold the belief that true technicians are lacking in other areas. The point I'm making here is investing, trading, whatever your involvement is with the market, YOU HAVE TO UNDERSTAND CHARTS. lol
Heres the thing: Charts ARE math. Technical indicators are mathematical expressions. And, if you don't have at least a basic understanding of charting, you're putting yourself at risk as an investor. Good luck to you as well.
Lol. Amateurs speculate based on other people's holdings. Professionals take everything into account, especially technical considerations. So, to sum up, it was a technical pullback on the commons, imo. Remember there is heavy resistance at $3.05 which it hit today (and hasnt hit since February). Pulling back to $2.80 (again thrice times today/strong support/triple bottom) actually makes sense given the strength of the news today. Frankly, I was expecting more of a pullback in the commons based on the chart. IMO we should see a continuation of the volume going into the open tomorrow and more buying pressure as the Mnuchin news starts circulating. Again, just my opinion.
If you look at the chart for $FNMA there has been a steady uptrend for the past 7 days, with a healthy pullback today to $2.80 support (triple bottom in fact), which is both reasonable and customary given how long its been up recently. Conversely, $FNMAS had a strong pullback last Wednesday which lasted until the end of last week---so it doesn't surprise me that the preferreds are up today. In other words, the fact that preferreds are green today and commons are red has no bearing on the recent news this AM, which of itself sounds to me like we are maybe days away from further development on FNF being allowed to rebuild capital buffers. Especially when larger media outlets start picking up the story tonight/into tomorrow. In my opinion only, not investment advice.
In my opinion, there is a strong possibility commons continue uptrend tomorrow while preferreds stay flat or possibly g/r.