Gentlemen, love to chat, but I have to get on the train to get back home. Took 15 trades for the day on FNM, what a wild ride its been. I got in on the spike around 9:30am. Rode it up 20 cents and then wussed out. Waited and waited. I kept shorting and then covering with the trades being minutes apart and making a few percent here, few percent there. I was looking for a pivot or a bounce, but it never came. FannieMae gentlemen is the best trading stock of our time. I cannot recall since the tech bubble of 2000 was there ever such volatility save for maybe a few choice farma stocks. Its troubling to see that nothing is truly safe. Hey you Dan Zanger fans. You could have turned 10 grand into who knows if you just stuck with trading this one stock. I love daytrading. C-ya at happy hour!!!
This was one of the worst calls, and not because the OP got it wrong. It was because of the arrogant and ignorant manner in which the OP dismissed all other arguments. It's one thing to make a really bad call and man up to it. But it's a completely different manner when you try to type your way into a different reality. Port/StockTrad3r, I think you should just stop posting in this thread, if for no other reason then you may start to actually believe what you're typing.
You can see my blog on 8/5/2008 where I said this stock is worthless around 13. See at a couple cents, as I think that is par value for the shares. If not, it might be one cent.
If you want to come here, stand behind me and write down my trades then be my guest. Im not going to waste my time creating logs/journals because I need confirmation from the ET community. Better yet, just focus on the monitors and make a few dollars for yourself. However, now FNM is a whole new reality. Its like trading the ole DALQ. This thing goes up a few pennies or down a few and thats a few percent. The trade is not over gentlemen. I made a few trades this morning and up about 6 percent and the market hasnt been open more then 30 minutes.
To the moderators...you get what you ask for....how the hell you let this diatribe go on for so long is beyond me.
Who's started a thread about FNM "buyback program"? Your trades are busted. Stop lying and get a new alias.
Standing behind you and writing down your trades: looks like a complete wipe out from $20 to $0.75. As a side note, there are ladies in here, too.