Actually if this keeps up, the big boys will be backing the truck up and buying another load. That's why they are rich and smart and you are dumb and useless. They buy low and sell high while you're the sucker they are buying from and selling to.
The more selling keeps up the more the big boys will keep buying. Fear along with the lack of any real news is causing the dumps. Stop losses set at 25 or 30%, then they all jump back in when it hits $4 again. Lost money to the stop loss and will try again. Just wait !
This is a long haul stock. I bought in 2009 at 0.81 and I am holding. The big boys lawyers can bankrupt the government in court if they want. No fear, long haul.
Cracker - the bill is Dead mate - they will Never close FNMA and make the banks hold the paper... There is only good news ahead and this sell off is way overdone - I for one bought more like Ackerman an the smart $ is - if anyone on this board thinks that the Obama Admisnitration has the votes in the full House and Senate to close FNMA then they have lost their minds... The Republicans will Never let is happen. Lets roll!
'The republicans will never let it happen'? What are you smoking? It was the dems who largely didn't support the Johnson Crappo bill while the reps were largely in favor. FnF are GSE's (Gov. Sponsored Entities), no doubt the most socialized comapnies in the USA and also the most profitable. The conservatives would like nothing more than to do away with them and give all the business to their bankers buddies but I have no fear, their fate will be decided way before they have a say in it.
Here's a quote from the POS 'Me Party' candidate....
"The recent financial crisis, where did it start? In the housing market. We all know basically, probably the primary cause is located in Fannie and Freddie," he said. "American Enterprise Institute estimates 70% of all subprime loans went through Fannie and Freddie. Instead of who? Instead of through your banker. So we're putting bankers out of business. Bankers aren't doing banking. In the past, bankers actually had to check your credit if you wanted a mortgage. Today, they don't and Fannie and Freddie, they just say 'here, here's a mortgage.'"
- Dave Brat quote from Nat'l Mortgage News, June 22, 2014
I'm long in FNMA, bought all my shares back at $.2677 because I beleive that the middle class has the right to experience the American dream, Conservatives and Republican campaign is based on blaming the middle class. I'm holding strong till the end. We both have the same opinion about FnF's future, but we couldn't differ more on how we'll get there. GLTU
none of the bills, or anyone for that matter, are suggesting the banks hold the paper. What is being proposed is for the private sector to produce mortgage backed securities and get them insured. When you sell MBS' it is called getting it off your balance sheet, not holding it.
Many longs on this board misunderstand the most basic of all things when trying to get your head around the issue.
FnF produce MBS' for the private sector to invest into. Do you get it? Banks sell their mortgages to FnF then subsequently buy the asset back to hold on their balance sheet in the form of a MBS.