Fannie Mae-No Politics (FNMA)

[chenzo11]

we are still at 'lower high's, lower lows'. Not a good chart... from a chartists point of view. (1, 2, 3 mth)
Please, lets be more informative/optimistic, less wishful/exuberant.

You are right, we are making lower highs and lower lows. At this time it is hard to tell if it is shorts driving down the price, or the market knows more then we do and is selling (It is a very real possibility).

Chartwise, There is not much support here. And the chart is rolling over. I don't use the 100 day MA, so $1.00 is my next support level.

That being said I took stabs at $1.50, and $1.44 (wanted aliitle lower but missed). I feel there is positive news in the near future that will trump the chart, so I don't want to be out too long. Just taking stabs at pseudo support levels and see what happens. I'm a mouse click away from being in or out and have access to the market all day.

The buying/or short covering late Friday may be a clue that it was shorting that drove the price down for four days. There is a tug-o-war going on, as we can expect healthy earnings early August but there is the question of whether or not the common shares will survive. That is our risk and that is why the common shares for a company earning $9bil+ are trading at $1.47.

GLTA
Chenzo