20% Sharp Shooters - Max Day Trade - Short term Chart Triggers

[TDarts]

07:20 Fannie Mae and Freddie Mac: Regulator places FNM and FRE into conservatorship; tgts reduced to $0.50 at FBR

Friedman Billings says given the placement of Fannie Mae and Freddie Mac into conservatorship and the significant dilution to existing common shareholders with the Treasury preferred stock capital injection and issuance of warrants, they reduced their tgt for Fannie Mae and Freddie Mac to $0.50 per share, both represent our estimate for appropriate steep discounts to reported GAAP bookvalue as of June 30, 2008. On September 7, the Federal Housing Finance Administration (FHFA) decided to place Fannie Mae and Freddie Mac into conservatorship. To complement the FHFA's decision, the Treasury has outlined additional steps to provide stability to the financial markets and support the availability of mortgage finance. The companies' common stock will continue to trade during the conservatorship; however the power of the shareholders is suspended until the conservatorship is terminated. Putting the GSEs into conservatorship to bring liquidity back into the mortgage market will be viewed positively by investors in their opinion and should result in a rally in financial stocks.