Fannie Mae (FNMA)

[Jayman1980]

Buy, Buy, Buy!

Pretty boring today til I got home and started analyzing the daily chart. I annotated it to send to a few buds out there. I have always said, about the time when it seems hope is lost, as we have seen lately with all the crying and whining, lol, is when we have found a bottom. I started to feel a bit of it too, and I like to trade opposite to my emotions, hence my attempts to explain that to others that seem to be panicking and posting over and over whining the other day. A link to my chart below explains how all the stars aligned today, and the news is pretty nice too. I think that the Fannie chart, and maybe Freddie, which I don't trade, are very indicative when they line up like this, of future news. I liked the above average volume. It seems our manipulators are running out of runway. See the buy volume drop completely off at the MA (50) today? Most buying, as indicated by NavyCommander earlier, was on the buy side. I didn't need to see that on a graph or chart, I watched L2 like a hawk this morning and it was very evident. Lots of fake ask blocks going up to scare buyers and initiate sellers to grab a .02 spread. I quit watching once I figure out "they" were not ready to let it go yet. Anyway, check out my chart, it should explain all. To be honest, and I hate to say this for I may potentially be heckled about it later, this may be the start of another monster run. Not the little 10-20% pops we have been accustomed to lately. Hope it works out.

http://stockcharts.com/c-sc/sc?s=FNMA&p=D&b=5&g=0&i=p05094492476&a=347894666&r=1409197820879

My strategy is to take the GTC I had at 3.76 and cut it in half. I am going to use that first 50% to buy market order at the open. I will watch volume, because it is THE key here, and if it can sustain above average volume past the first 30 minutes, I will then find an entry for the other 50% I have waiting at my 3.76 GTC. I am absolutely not worried about the downside anymore, even if this fails tomorrow, I will be happy.

What is your strategy?