Replies to post #89555 on Fannie Mae-No Politics (FNMA)

[~ NT ~]

A few days back, when it couldn't break the 1.78 resistance for the 2nd time was a good time to sell. A technical retrace was imminent. Nobody knew how far, but about a 15 - 20% pull back can be expected (considering it was a 70% bounce off the Corker drop). That's almost where it is at now. Actually slightly below it. The media effect (as I mentioned before to you) is not predominant yet.

[Jayman1980]

Good post. I wonder sometimes if the institutional buys on the run up were just a flip for them. It would be a great idea to make some quick coin to buy these knowing the public is going to be aware of the institutional ownership and retail will drive it up more after learning of it. I wonder this because of the significant drop in price this week after probably the best news in years for shareholders. It could almost seem that hedgies are dumping to retail in the wake of this news, knowing they may be cutting some kind of back door deal in which the Treasury would pay preffereds a lump sum dividend to settle, effectively kicking commons in the balls. It just seems like we should see some consolidation at least, but this thing is tanking. This does not seem to gave any real solid support.