Fannie Mae-No Politics (FNMA)

[Zargis]

Updated 60-minute trend line information.

note: this is my last post of the day, as, I have not bothered to pay for premium.

Follow the upper orange downtrend line and that is the point where it will have to break out at each hour in order to move up quickly.

The RED circle shows where our previous daily low of $3.38 became a point of support. However, it should be noted this is a WEAK support.

(support ranges are weaker or stronger dependant on the size of the candle / wick and the volume. The bigger both are, the stronger each is)

It appears we may be having a small daily reversal after hitting that low. Regardless, as long as we do not go below $3.35, we still have a 'chance' to move up more.

If $3.35 breaks, look for $3.25 next to re-test.

Also, frdmlover - don't stay out too long if you want to just buy back in. These lows likely will not last for too many more days / weeks. We will end up hitting a low, maybe at worse $3.00 again (but probably higher like $3.15-$3.25 area - i.e. bounce off the 100-SMA) then it will have a large green spike and at best you might break even getting back in.

I make my most gains by selling and buying back within 5-60 minutes, otherwise I wait too long and lose opportunity. You can see a general direction, and, with charting and technical analysis you can always make an educated assumption on expected price movements. However, I find that there is nothing certain except in the movement itself - and - that's 5-10 minutes at best in many cases.

Just advice, don't trade on just my thoughts alone. Speaking of logic only.




Good 'luck', be safe, be well.

-Z


p.s. I have not yet bought back in with my remaining half of shares, but will do so by end of day unless we have a MAJOR dump near end of day. (relative to today's volume - so 1.5-3 million.)



FYI LUMPINA: on stop losses, yes you need to be careful with that stuff. And your iphone app doesn't let you trade?

In any case, if you set a stop loss... don't set it that low. Then all you do is break even or lose money. Pointless. - my opinion.