Replies to post #110772 on Fannie Mae-No Politics (FNMA)

[dougthehead]

I agree that there is nothing good technically about the candle produced today, but there is a pattern in the daily for these drops. Hopefully for all holding it keeps true.

[TheHoff87]

Just my luck, saw the good earnings and bought in. Now im stuck holding a bag. Why do you think this is tanking so badly?

$FNMA

[chenzo11]

There is nothing bullish about this candlestick formed today.

No there is not. I got out late Monday when it appeared that we would not hold the $1.50PPS. I know $1.50 is not support of any kind, except psychologically, but I don't like it when a stock fails to hold round numbers ($1.00, $1.50, $2.00).

Support is now at $1.00ish. The problem I see, is that I don't think many will have the stones to hold over this weekend. The shorts are piling on and maybe they know something. Thus creating a huge selloff late Friday afternoon.

Not sure, I'll have to see how this plays out, but I may be tempted to take a 1/2 share stake at $1.03 and let it ride over the weekend....Not sure of that though, will wait and see.

GLTA
Chenzo

[Fross]

Got to think ahead. This is why I called yesterday a time to buy. I understand resistance lines and yes you are right we had resistance lines below us. You did not factor in all equations.