Anyone have any thoughts on the short and long term movement of FMCC?

http://texags.com/main/forum.reply.asp?topic_id=2312577&forum_id=57

Everything I read on it is that it is a complete pipe dream, that it will not become anything real.

http://www.cnbc.com/id/100754423

http://dealbook.nytimes.com/2013/04/09/in-the-markets-at-least-fannie-and-freddie-still-astound/

http://theweek.com/article/index/242558/freddie-and-fannies-zombie-stocks-why-are-they-coming-alive

I can not find the original article out of the Wall Street Journal about these "Zombie Stocks."

Personally, I have this gambling problem that every now and then I purchase 100 shares of some terrible boarderline bankrupt company just in case it makes a come back. I know very stupid to do, but it is my form of a lottery.

At times it has worked out, and several times I have lost every penny I purchased with. When it was in the dollar something range I did my gambleing thing with both Fannie Mae and Freddie Mac. With the anticipation of letting it sit for the long haul. However now as it has made a run, it should have been more and for the short.

I would bet that I am going to lose on this one though.

[This message has been edited by Noble Men (edited 5/31/2013 9:59a).]

Dont see why the Obama administration would ever release them from conservatorship. Unwinding Fannie and Freddie would be..... well, thats not going to happen either.

I agree with ClayM.

I should have searched for another thread!

I bought it a couple years ago during the infancy of the B&I board, so I am up 150% on a small position. I hope that $20 guy is right.

Again, I don't think it makes sense, but FMCC closes at $3.75 and FNMA closed at $4.08.

Hell I figured it was a pump and dump that would have been dumping by now.

Will watch and see.

Like I originally said, moving half a dollar or more a day and still gaining steam, I'm hoping for at least $20. Possibly wishful thinking, but who knows

What brought you to $20?

Just a hunch. I'm also riding Cabela's to $80+. I'm not saying either will happen overnight, but I think with the housing market getting better and mortgages being paid and foreclosures coming down, Freddie can be a $20 stock within a year

Shareholders have rights to zero profits.

Right, so you are basically wanting a run up on price based upon some other sucker behind you wanting to pay more for it than you did.

As was once put so eloquently by Mike McDermott:

quote:

---

Listen, here's the thing. If you can't spot the sucker in the first half hour at the table, then you ARE the sucker.

---

Go Baby Go!

Free fall.

Damn, that is just brutal.

Fortunes made a lost all in a day. The beauty of capitalism

Today has been effing awesome. If you're short you could make money and if you're long you could make money

Unbelievable swings

Probably cant short FMCC as most houses wont margin it.

Schwab said I needed 100K in my account

Schwab not offering much of short rebate I'm sure.

Unreal

Wow, totally forgot about this stock (FNMA).

Bought a bunch at $0.50, sold at $1, then bought some more when it dropped. Then it crashed and was at $0.10 or less. Should have bought more, but ate the loss for taxes one year.


Now I am back to positive, which I never thought I would see again.

~egon

FMCC all over the map again today. Anyone throwing anything at it?

Yeah, I grabbed small fries size of shares earlier in the week. During the pump up in the start of the week it was fun, now during the dump and walk down later this week, I am glad I was smart enough not to buy more than I did.

was trying to get an order in for 1.30 this morning...but missed it. 3 minutes later it was at 1.60

I tried the same and ended up grabbing some at $1.68 just to feed the gambling troll inside of me.

This is one stupid stock, and I have spent far to much time watching it for as little skin as I have put in, but somehow this has been a fun one to watch. I think reading the yahoo message board for FNMA, and those fools high fiving each other and then falling on the sword with each turn has added to my entertainment value of it.

This thing (Fannie Mae FMNA) is trying to rear its ugly head again. Trading volume in excess of 50 million today and price up nearly ~20%.

[This message has been edited by Noble Men (edited 10/23/2013 11:36a).]

I've traded FNMA quite a bit. Been buying in the low $1.10-1.25 range and selling in the $1.75 range. I sold some last week and missed this latest run up, but I've made quite a bit trading this stock back and forth.

Finally sold it when it hit $3. Made my 50% (after buying it at $2 and watching it go to $0.20 in about a month or so).

~egon

This bloody zombie (FMNA) is back up to $5/share today.