If that's your response then you are missing the point. First, I am long Fannie and believe the Gov't has illegally taken over a public company. Putting that aside, historically people have moved with resources. The last time the US saw this was the dust bowl of the 1930's. My point is this, if people can no longer get enough water to get by, they will leave. If enough people are leaving, homes lose value. As the homes lose value, people are underwater(great term for this issue). When people are underwater, they walk away and allow foreclosure. This is, in essence, what happened in 2007. There are towns that have been trucking in water for more than a year as all their wells are dry. It is getting worse. Any clearer now?
Do people walk away from homes? Is Fannie blamed for those losses? Without significant water I believe CA will start the next housing crisis. Lets settle this case before something like this happens and Fannie is blamed.
Demand was greater than supply.
Who cares? Up is always good. It's pennies. It's just movement.
"Lost" IRS files
Just saw this post now - DHS suspends rollout of Obama immigration actions after court order
Everything he has tried to do is being acted on legally because it was done WRONG. Sort of bodes well for us when the dominoes start falling and precedent is shown that everything was done wrong. Sure will make it easier to prove wrongdoing and encourage the gov't to start to try and settle cases so they are fighting fewer legal battles.
Sentiment: Strong Buy
Wow. Such an insightful post for such a new profile - Member since: Feb 17, 2015. lol.
Master? Where would we find the master? Last I heard you were saying we were going to $1.60..."Watch and learn." You may be a "Masterbater" but no "Master Trader!"
I am long and bought during last years $6 spike(yeah, sucks for me) so I have seen lots happen here in a year. I have been wondering why this sudden move on no news as well - well, not substantial "settlement is pending" type of news, etc. That said, from the volume Friday and today, we can deduce this is not driven by retail. That's about the only thing substantial I can take away. If anyone has anything else "substantial with links" I would love to see it.