Im going long on FannieMae FNM

"White House: Tsy's Paulson To Make Statement On GSEs

Last update: 7/11/2008 10:02:30 AM

WASHINGTON (Dow Jones)--The White House said U.S. Treasury Secretary Henry Paulson will make a statement on government-sponsored enterprises Friday morning. It declined to answer questions on a potential bailout of Fannie Mae (FNM) and Freddie Mac (FRE) but repeated its call for Congress to send President George W. Bush housing legislation he can sign. "
 
interactivebrokers has problems with the FNM quotes on my screen...
bids and asks prices seem to be delayed sometimes, resulting in quotes like 7.22/7.02 right now with last 7.02...

as a result my stops wern't sent to the market when price went through (7.74 minutes ago), and i had to manually exit the trade at 7.49....

grrrr...
 
FNM is well capitalized. I do some short term day-trading everyday, but I do scoop up some shares in another account for long-term holding. Im certain this selling is just a panic based on rumors caused by that analyst last week.

I got some more today in the 6s and will continue to scoop up more as it goes down ala Bill Miller. ahahahahahaha.

I have a loss in the meantime, but my timeframe is much longer then some of you who daytrade. In fact, my loss on these shares is probably less then some of you who daytrade. Interesting....
 
Quote from Port1385:

FNM is well capitalized. I do some short term day-trading everyday, but I do scoop up some shares in another account for long-term holding. Im certain this selling is just a panic based on rumors caused by that analyst last week.

I got some more today in the 6s and will continue to scoop up more as it goes down ala Bill Miller. ahahahahahaha.

I have a loss in the meantime, but my timeframe is much longer then some of you who daytrade. In fact, my loss on these shares is probably less then some of you who daytrade. Interesting....
More...

hey port how does your equity curve look over the past few years?

does it resemble this?

man_falling_off_ciff.gif
 
Quote from zzt:

true, but this isn't panic selling. SPX implied vol and realised vol are nowhere near march levels.
This is pretty orderly considering the FNM & FRE picture.
More...

Agree. 2004 lows here we come.
 
Quote from Port1385:

FNM is well capitalized. I do some short term day-trading everyday, but I do scoop up some shares in another account for long-term holding. Im certain this selling is just a panic based on rumors caused by that analyst last week.

I got some more today in the 6s and will continue to scoop up more as it goes down ala Bill Miller. ahahahahahaha.

I have a loss in the meantime, but my timeframe is much longer then some of you who daytrade. In fact, my loss on these shares is probably less then some of you who daytrade. Interesting....
More...

"Interesting" alright ....another Walter Mitty....your story doesn't pass the mustard test.
 
"11:25 (Dow Jones) S&P's equity research arm cuts recommendation on Fannie's (FNM) stock to strong sell from hold; cuts Freddie Mac (FRE) to strong sell from sell. Firm says "we believe the viability of the common shareholders' interest may be in jeopardy." While S&P expects FNM and FRE "to continue to play an important role in the housing market, we are deeply concerned by uncertainties surrounding" the mortgage finance titans' capital, which is in negative territory on a fair-value basis when assets are marked to market. "
 
Quote from Port1385:
FNM is well capitalized. I do some short term day-trading everyday, but I do scoop up some shares in another account for long-term holding. Im certain this selling is just a panic based on rumors caused by that analyst last week.
I got some more today in the 6s and will continue to scoop up more as it goes down ala Bill Miller. ahahahahahaha.
I have a loss in the meantime, but my timeframe is much longer then some of you who daytrade. In fact, my loss on these shares is probably less then some of you who daytrade. Interesting....
More...

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I bought in at 7.41 FNM today a few hundred shares....nothing much if it goes to zero but i sure hope it doesn't, i've locked in 4K this week trading the FNM/FRE spread...great intraday scalping opportunity!
 
Quote from Port1385:

FNM is well capitalized. I do some short term day-trading everyday, but I do scoop up some shares in another account for long-term holding. Im certain this selling is just a panic based on rumors caused by that analyst last week.

I got some more today in the 6s and will continue to scoop up more as it goes down ala Bill Miller. ahahahahahaha.

I have a loss in the meantime, but my timeframe is much longer then some of you who daytrade. In fact, my loss on these shares is probably less then some of you who daytrade. Interesting....
More...

Rumors? I have to agree, the last time government was truthfull has been a while, I am sure they meant nothing when they commented on their situation.
 
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