Anyone else bought FNMA or FMCC ?

[Mo Munny Mo Problems]

I bought some shares @ 70 cents a few months back, didnt think much about it at the time. Actually my first medium sized purchase ever.

 

a small amount at $2.00. (They were going up up up.. and soon after skyrocketed to $5+. I sold )

 

then again @ $1.45 I bought a pretty good chunk, since I figured thats about as low as it was gonna go for the day(Friday)

 

 

Im waiting for Monday, I pray it opens higher and I can make a quick buck.

 

 

 

 

 

I just wanted to see what yall think?

 

Being that they are a Government Sponsored Enterprise, and that the "agreement" that was made with the government & Fannie Mae/Freddie Mac doesnt not provide a way to actually pay back the $1XX million bail out that they received....so they are supposed to send all of their profit minus a $10 Billion piece to give them cushion........forever?

 

 

How can this be fair? Since I dont remeber getting to vote on this decision to make this agreement with the governement.....

 

Arent there supposed to be some sort of shareholder meeting and we vote on things like that>?

 

 

 

Theres supposedly 12 qualifiers that have to happen before the government can step in like that, and Fannie/Freddie didnt have all 12. Thats what I read anyways.

 

Theres a law suit filed by a few major shareholders againts the government. I wonder what wil be the outcome?

 

We know the preferred shares are supposed to be worth something, but the common stock is being said, by some, to be worthless because of the fact that the government gets all the profits "forever" according to the agreement.

 

To date, they have paid back nearly ALL of the billions they borrowed. like 80%

 

The next quarter they are gonig to post some BIG numbers. They will have paid back all of the bailout money, and then some. I wonder how everyone is going to react to this?

 

How is it fair to let companies like AIG pay back the bail out, and single out Fannie and Freddie and just decide that "oh no,we are going to keep this one"?

 

lol

 

 

 

 

this was released after the market close on Fridday:

 

http://www.hispanicbusiness.com/2013/6/14/fannie_mae_raises_2013_origination_outlook.htm

Edited June 16, 2013 by Mo Munny Mo Problems

[ctb89]

Played a couple bounces after the washout.

 

Stalking SLM for long term short.

[Mo Munny Mo Problems]

http://www.bloomberg.com/news/2013-05-24/fannie-mae-winning-at-the-alamo-prompts-lender-angst.html

[Mo Munny Mo Problems]

Played a couple bounces after the washout. Stalking SLM for long term short.

 

Im just getting started. Ive played virtual stock exchange for yearsss and turned $10,000 into millions dozens of times....

 

Time to play for real I guess lol.

 

I HOPE HOPE HOPE it opens ^ up tomorrow. Im gonig to have to stay up all night cuz I dont want to sleep through the morning dump lol

 

 

As far as SLM. Im going to read on that. Its been too long since Ive thought of/come across a good idea for a long term short.

 

I f$&^$ hate Sallie Mae anyway lol. They made my life hell for years. Heck, Im STILL paying loans taken out in 2003 haha. I didnt even know or had never even heard of "interest" when I signed those papers lol.

 

There should be like a law where you have to take a class in order to sign a document on a loan over a certain amount. Seriously.

[Mo Munny Mo Problems]

Played a couple bounces after the washout. Stalking SLM for long term short.

haha "stalking"

[ctb89]

Have sold some call spreads on it before just small risk stuff. But if the student loan situation continues, they will have to recapitalize at some point and the equity will get wiped out.

 

Currently hedged long term equities at 1665 S&P and have some August Aussie $ calls riding that bounce.

[Mo Munny Mo Problems]

I was pleasantly surprised to hear my alarm go off this morning and I rushed to check the ticker......

 

 

Its sooo hard to sell lol. Oh well Ill catch the next dip

[ctb89]

Nice. The problem is right now the penny stocks guys are all over it. Since it's delisted right now to OTCBB which isn't an exchange, getting filled (both buying and selling) can be difficult when liquidity comes in. Jeffries (JEFF) is the main market maker IIRC and they wi manipulate the hell out of it.

[Mo Munny Mo Problems]

Sold the last batch of 1072 shares for $1.80

 

Im really glad with the outcome.

 

I have been and will continue to be looking for my next victim lol

 

SLM could indeed go for a dive. Looking at the last few days, its been on a decine. All you need is some bad press and you can probably make a dollar per share lol.

 

What do you use to trade? I have USAA. QUICK execution, and always(so far) at better prices than the limit I set..not just at the limit, but usually a few cents extra, so thats been nice.

 

USAA has some kind of limit on this particular stock, so I could only buy/sell 2000 or so shares per day. I had to buy mine over a period of a week, then sell over the last 2 days. Kinda lame :/

 

Does everyone do this? I have been told it is only because it is an OTC stock. If it was n the S&P or Nasdaq, she said there would be no limit.

 

Kinda sucked becuase when it hit $1.44 I bought the max, and watched it rebound to $1.72 within 24 hours and WISHED I could have bought the 6000 shares I WANTED to buy.

 

I didnt think much of it, because I figured I shouldnt be risking that much anyways... I COULD afford to lose 100% of it...but it would be a pain paying it all the while thinking it was all for nothing. 3000 shares was a good spot, since I figured worst case it drops to zero and Im out $5k. 10 would just kill me lol

[Mo Munny Mo Problems]

We should start a stock thread! There are some GREAT minds here on CB from all walks of life. I bet theres some good info just waiting to be divulged . :

[Mo Munny Mo Problems]

Have sold some call spreads on it before just small risk stuff. But if the student loan situation continues, they will have to recapitalize at some point and the equity will get wiped out. Currently hedged long term equities at 1665 S&P and have some August Aussie $ calls riding that bounce.

 

http://www.usatoday.com/story/news/nation/2013/06/18/student-loans-interest-rate-congress/2434217/

 

The question is, what is the rise in student loan interest going to do to the SLM stock?

 

Are they going to make more money, or are the higher rates gong to cause a large decline in income somehow? and why?

 

Interesting question.

 

Im not sure if I would want to go long or short in this case.

[ctb89]

I use Fido or IB.

 

As for SLM, the debt is unsustainable. More debt = accelerating defaults.

[Mo Munny Mo Problems]

FYI Sprints probably gonna merge with Suntrust/Starburst

 

"Mo Munny,

 

,On behalf of USAA, we're notifying you about an annual meeting and proxy solicitation for a security you hold. You can click on the link below to view shareholder material and enter your voting instructions. If you choose to vote, you can do so online until 11:59 p.m. (ET) the day before the meeting.

SPRINT NEXTEL CORPORATION Special Meeting of Stockholders

Meeting Date: June 25, 2013
For Holders As Of: April 18, 2013
CUSIP Number: 852061100
Account Number: ####0430
Control Number: 028663702742

You may enter your voting instructions and view the shareholder material at the following Web site:

http://www.proxyvote.com/0028663702742

You'll also find relevant documentation at the following Internet site(s):

Proxy Statement
http://investors.sprint.com/GenPage.aspx?IID=4057219&GKP=206085
Supplement
http://www.sprint.com/proxystatementsupplement

Distributed by Broadridge Financial Solutions, Inc. on behalf of USAA.

Thank you,
USAA"

They havent had much media coverage about it. Most of its about the Dish Network takeover bid & Clearwater (CLWR)

 

Seems to me that its a strong possibility the voters say yes and they get bought. I wonder whatll happen to the stock price in that case?

 

 

 

Also, what you do you think of inverse ETFs? (DOG, PSQ, etc)

 

Ive been toying with them the last couple days and had success buying on an uptrend and selling quick after for a few quarters. Good for a few hundred bucks each time if youve got the 25K+

 

Like if theres some economic doom and gloom announcement about the economy and the market after the bell, next morning BAM these pop up 1-3% lol

 

http://www.tradermike.net/inverse-short-etfs-bearish-etf-funds/

[ctb89]

My AUD/USD calls were gutted but my hedges are paying off big time.

[Mo Munny Mo Problems]

i got a 7.85% return today. I had been up al night waiting for th eopening bell ...I did that 7%+ and passed out around 11AM lol

 

im hoping my inverse financial etfs skyrocket

 

After close they announced discussion of raising the minimum capital for investment banks to retain. Talks of 6% were floating around.

[ctb89]

i got a 7.85% return today. I had been up al night waiting for th eopening bell ...I did that 7%+ and passed out around 11AM lol

 

im hoping my inverse financial etfs skyrocket

 

After close they announced discussion of raising the minimum capital for investment banks to retain. Talks of 6% were floating around.

No 6% would never happen. The ex-chairman of the FDIC (IIRC) called for 6% which is a joke.

 

Yeah inverse ETFs are ok for short term but they have terribly high costs. I got net short @ 1665.

[Guest mixedup]

Hello ... Just a quick question have any of you bought anymore of the FMCC . It looks like it is about 1$ a share. I am just looking for some penny stock. Not a guru or anything . Just looking for some thoughts/ advice/ opinions .Thank you .