Fannie Mae-No Politics (FNMA)

[kthomp19]

I am. I bought some FNMA commons. JPS is up to about 10-13 cents on the dollar. Still good monies ahead to be gained. But, I chose to buy the FNMA commons because they are not apart of the Class Action....go figure

Can't blame you here. I'm not bullish on the commons' long-term prospects but FNMAS:FNMA closed at 4.68:1 today, which is near the top of its usual channel of 3:1 to 5:1.

Rotating some prefs to commons looks like a good short-term trade. I might even rotate some myself if I get up on the right side of bed on Monday, with the idea to rotate back if FNMAS:FNMA goes back to 3.5:1.