Replies to post #88168 on Fannie Mae-No Politics (FNMA)

[rjanderson383]

I know some basics, but thank you. Most of what happens tomorrow will largely be determined by news.

I've noticed that sometimes on a downtrend(which we've begun) stupid articles come out and cause panic selling resulting in even lower stock price.

My assumption is a gap down to 1.50, I think that will break and then 1.40 will be the new support area.

Now if horrible news comes out... maybe lower,

Positive news will maybe stabilize the price.

My guess is it's most likely going to see at least 1.45 tomorrow.

I'm waiting on the sides... I may or may not get in tomorrow, if not, Friday. :) I think Friday is safer. Last time this broke 1.40, it was ugly.

[rjanderson383]

If you are on sidelines, just wait:

Support

1.50 1.40 1.30 1.28(or lower Bollinger band) 1.12(100 Day MA)

The lowest 2 supports might change a bit as of tomorrow so just check it on stockcharts.com

On this downtrend just watch these. But keep in mind a support might hold for an hour and then break. So don't do anything too hastily. You may have noticed today that it took a few tries for things to collapse. There is a negative sentiment to the market right now. The 1.02's are too recent to forget.

Couple other notes...
MACD crossover was rejected (bearish)
Parabolic Sar.... should cross on the next uptrend after reversal, as well as a MACD crossover (this is why I will most likely wait until Friday)

RSI / some other indicators aren't giving any strong signals IMO.