Fannie Mae-No Politics (FNMA)

[chenzo11]

I am going to say we broke the 50MA. Shorts pushed this down to 1.62 because they know that at that PPS, the 50MA is broken.

It now gives them momentum tomorrow morning to push it further down. That is what I feel will happen tomorrow. I am guessing to $1.50. Traders who bought in at the 1.65 area will have a 10% loss at 1.50 and can be shaken out. Those looking to re enter will see this as a good entry point.

I agree, this is one of those "round number" rest stops. I will be looking to enter here also, and hope for a bounce back.

I don't wait for confirmation, I feel you can miss too much if you do this. The trend is up....I want to be in as much as possible. If it goes against me, I am just a mouse click away from being out.

Chenzo