I had picked $5.95 because I think there's support there. The floor tends to be inbetween $5.95 and $6.05. Given the hype around this meeting, I thought we'd see the lower portion of the range. And I did say we'd recover to $6.30 within a day... I thought there would be a big initial drop.
Floors since breaking $6.00:
Well, it looks like I was wrong. No 52-week high and no $5.95.
People are waiting to hear from the FED (which will be at 2:00PM EST today). Goods news and we beat the 52-week high of $6.60. Bad news and people sell until we hit $5.95-ish. If we hit $5.95, we'll be recovered to $6.30 by the end of Thursday. Might be a good chance to accumulate.
I wish the stock would go back up to the $37.50 range but I sure do enjoy these dividends!
A settlement with Countrywide would also be a big deal. For some reason I keep thinking that will happen in August but I don't know why I think that. But like Pepsi said, profit
The last stock you want to be compared to is FNMA because those common shares will be wiped out. FNMA is a fool's buy because you're just banking on people's irrational hopes.
You shouldn't be looking at how many shares to cover, you should be looking at the short interest. With an average daily volume of 6,130,638 as of 5/31/13, the days-to-cover is 5.87. That's above the average Dow stock but not crazy. I've read a days-to-cover over 8 is when you should start to take notice.
How was that a type? the 1 and the 3 aren't next to each other AND $5.835 has an extra digit. You're full of it, just like when you were talking about a triple top breakout last week.
I emailed him. I believe their report is illegal but I do not know for sure. I asked for clarification.
You're not wrong but you will never see a penny of that if you own common stock because the common stock will be wiped out when FNMA is dissolved. That's the problem here.
I don't own any of this stock but I agree with you. $0.01 or $0.02 profit. However, I'm not sure enough to buy in. But I think turning a profit gets you to a high of $2.90-ish... people love it when you turn profitable for the first time.
This stock has been all over the place. Any idea why?
Unless Obama talks about stem cells or Romney has macular degeneration, NOBODY CARES WHAT YOU THINK!
This stock costs 8 cents per share. Go back to AAPL or GOOG or even CSCO and leave us alone
NIW: $2.2 billion vs 2.8
New Notices: 11,098 vs 8,521
Paids: 3,248 vs 3,046
Ending Delinquent Inventory: 137,847 loans vs 119,091