We Didn't Short Today. What You Should Do.
We didn't short any commons today and in the last 6 months we have only shorted a few times by taking alternate positions between FNMA and FMCC when bad news dropped and we knew there would be covering before end of day.
For today we took a painful haircut on our position with the gap down and afternoon fade. Not fun.
We did begin exiting JPS and will exit it by next week. We're 100% done with JPS and are locking in profit from low pps accumulation in 2018.
I was clear that today would be a strange day. It could have been a lot worse but the common prices held at historical support levels. Some of you have to recognize how good that is.
The stock didn't bottom out. At one point there were 12 million limit orders holding the bid at $2.50 for FNMA. That was an impressive thing to see.
If you really want to make a difference you should do the following:
Contact FHFA, Treasury, WH, and your elected officials in Congress and explain how harmed you have been by this conservatorship. Explain how it has negatively impacted you and will drive your future voting. You need to see the shareholders taken care of.
Contact as many journalists as you can (FOX, CNN, NBC, ABC, CNBC, WSJ, AP, Reuters, WSJ, Bloomberg, White House press pool, etc.) and ask that they submit the following questions next time they are in front of Trump, Calabria, Mnuchin, or Kudlow.
1) Don't you care about the shareholders?
2) When exactly will you end the NWS?
3) What will you do if en banc doesn't rule in government favor?
4) What is your capital rule?
5) When will you relist the stock?
6) What will you do with the SPSPA?
7) What will you do with the warrants for common?
8) What will you do to protect the rights of the 100,000+ legacy shareholders so they are restored and no longer harmed?
When good factual news about this stock appears, repost that on twitter, reddit, stocktwits, and any other message board to increase social awareness and sentiment. Tell all your family and friends on Facebook about this corrupt situation. Spread awareness as far as you can.
Do this instead of speculating on a message board and you will have far greater impact.
Today shook out the short term investors on common. If this goes to $2.40 for FNMA and $2.20 for FMCC I will begin to be worried. If they remain in a $2.30 to $2.50 range for the next 30 days, that is not bad. We want to see continued bounces off prior support with steps into higher levels.
En Banc will change everything.
