Replies to post #137437 on Fannie Mae-No Politics (FNMA)

[MynameisBuck]

I chased it last time & had orders filled from 2.50 - 3.80 & than it dropped like a bad soufflé

[crowbar24382]

40 % down Might be a good time to reenter ?

[chenzo11]

I also got out yesterday at $2.13....Saw the way we were finishing and got back in at the close ($2.20)

There are a couple ways you could play this....

You could buy a 1/2 stake at the open and if it runs, then at least you got something. I am a very cautious investor, especially with a stock that is up over 100% in five weeks. Therefore, I would expect a pullback, and possibly fill the gap that we open today.

At that point you could buy the other 1/2 of your position. A lot depends on your trading restrictions. If you have restrictions, it makes things more difficult because if it goes against you, you can only sit and watch.

This is a tough place to be in, there are no concrete answers. You could go all in at the open and have it reverse in 30 minutes; you could also wait for a pullback that never comes.

I am giving you advice on what I have done in the past.

GLTY

Chenzo