Fannie Mae-No Politics (FNMA)

[chenzo11]

The positive Sierra World article this morning was my first indicator. From there the PPS failed to go positive in the AM. I am a very cautious investor, sold at $2.38, took a small profit.

I have to admit, I did not see such a selloff coming, but that's why you take profits. Got alittle lucky today.

The action after the selloff was impressive though. We had a strong comeback with roughly 30 straight minutes of buying. I was surprised to see it close over $2.19. That tells me it was not a negative news leak. In that case, people get on the phones and ask around to see whats going on, then more waves of selling come as more people learn the news.

My conclusion is that it was a bear raid constructed around the Fed news. We even had a Sierra pump piece this morning which Im sure lured more buyers in this AM.

I am out for now. Will be buying if they continue the raid in the AM. Lots of people checked their position after work and may set stop loss orders. I still believe all the positives still remain intact.

GLTA

Chenzo