Fannie Mae-No Politics (FNMA)

[Zargis]

I was out for a while today, just seemed like a drop but I did notice Freddie had a lot of 'sells' (though surely they were buys) of 100k+ on the bid most of the day even when Fannie was doing nothing.

I agreed with Blanka that there was accumulation, however I had suspected another dip before going back up... it just seemed like time for a small retrace.

We very well could retrace $3.90 again, so far gaps always get filled. We'll see what tomorrow brings. I think we are green for a few days now based on the close.

Be safe,

-Zargis


Trade notes: I got back in a few pennies up, rode from $4.04 on the break out (sold previously at $4.02) so, didn't lose too much on that one... Technically I still gained today since I jumped back in prior to the additional 12-cent run up, but I still consider it a loss.