Fannie Mae-No Politics (FNMA)

[javachip]

Just a reminder that Tomorrow (Wednesday) the Capital Markets and GSE Subcommittee is meeting. This is Jeb Hensarling territory (PATH act). This could be a negative news day if something comes out of this. http://financialservices.house.gov/

The wall at $1.64 looks strong. Also, manipulation looks like it's creeping back in after it took a back seat the past few days. We're seeing the walls put up & taken down to control the PPS.

If the pumpers pick this up here and it breaks the $1.64 barrier it looks like there could be a run to $1.70 or even $1.89. I don't think there's strong enough support to get us there on this run though. The morning surge seems to have tapered off a little, but you never know.