Fannie Mae-No Politics (FNMA)

[big-yank]

FNMAS up $.48 to $4.23/share, today. 13% gainer. Preferreds are the place to be. Just a sign of what is to come. En banc hearing on Piszel can recast takings vis-a-vis Fannie & Freddie from where it sat yesterday. This is a key case regarding restoration (including divvies)... in essence, debunking the non-cume preferred garbage and potentially putting preferreds back in the money for the duration of conservatorship.

The big guys clearly get it. Volume was well above normal daily average for FNMAS. Nice boost for Perry if he wants to dispose of holdings and nice pick up for whomever bought, today. More to come tomorrow? You betcha. The $5 threshold approaches as the divergence commences. I predicted it 4 months ago. Just took time to materialize, like everything else with this snail-paced play.

But carry on, anyway! I AM NOT SELLING! Only gains to come as the wind down clock ticks off the hours to zero hour, as pressure builds on EVERYBODY. That's when the settlement meets the road.

Cheers.

JMHO.