Fannie Mae-No Politics (FNMA)

[~ NT ~]

I have been flipping this everyday since it was below 1.2 (2 weeks back) and this is what I feel. The more you wait, the more you'll get left behind.

We could have seen levels of 1.40 - 1.60 if she pulled back from 2.00.

Now that she crossed 3.00 and showed strong support at 2.78 - 2.80 multiple times (even at the end of the week when everybody sells), Fannie might never see levels below 2.80 again.

With every single day (as the PPS goes up) more and more BIGGER investors and buying. She traded over 400 million dollars on a Friday gaining over 40% . . some serious momentum here. Normal chart rules don't apply anymore. Has been overbought . . will be overbought.

Gap UP Tuesday and run towards 4.00. Little pullback from there (say around 3.50 which might be a good entry point) then she breaks 5.00 before any kind of consolidation. And by the way, its DIFFICULT to get fills when she runs . . 10 cents above ask and you'll be lucky if you get in.

Going against the market is never a good idea. The way Fannie has traded in the last couple of weeks . . big things coming. And always remember, its not iHub money here.

FNMA