Fannie Mae-No Politics (FNMA)

[chenzo11]

Your mistake was not the buy at $1.71, there was some support there. I might have made the same trade. The mistake you made was not selling once it broke. We had a small bounce between 1:30 and 2:30 and you should have gotten out at $1.67.

Keep your losses small and live to fight another day (or trade). Even if you sell at 1.67, there is now resistance at 1.72. Odds are it bangs into (now) resistance and pulls back, you can buy back in then.

Not criticizing, just trying to help. As I said, I would have made the buy at $1.71

Chenzo