Replies to post #20089 on Fannie Mae-No Politics (FNMA)

[Eisbrecher34]

I agree with everything you just posted except maybe that shorts are screwed. Shorts working with MMs tend to be pretty good at making a good exit.

My issue is the thought that this ticker is going to be trading at multiple dollars in the next couple weeks. I just can't fathom it after watching the action in the last couple weeks. This ticker has been a swing trader's dream and for good reason: it keeps rolling like a roller coaster. I just don't see the support on the L2s to warrant this thing taking off like a rocket. As soon as it is up it goes back down.

I will say though, with so much action lately I guarantee that the support level is a lot stronger than where it originally was a couple weeks ago. I doubt this thing will drop below .70, but at the same time I think we're going to test this range again before we test a couple dollars.

I think if something concrete comes out about the future of this company though, when that is coupled with the earnings that it is making this thing is going to soar. I just don't see the rocket taking off based on earnings; we need some evidence that we will see dividends coming our way in the future, even if its 5-6 years down the road.

$$FNMA$$