bloody tuesday...damnit!

[skibrian]

http://finance.yahoo.com/quotes/FMCC,FNMA,FMCKJ,FMCKI,FMCCM,FMCCK,FMCCT,FMCCI,FMCKK,FMCCG,FMCCH,FMCCL,FMCCN,FMCCO,FMCCP,FMCCJ,FREGP,FMCKP,FMCCS,FMCKO,FMCKM,FMCKN,FMCKL,FNMAP,FNMAO,FNMFO,FNMAM,FNMAG,FNMAN,FNMAL,FNMAK,FNMAH,FNMAI,FNMAJ,FNMAS,FNMAT,FNMFM,FNMFN/view/view_4

[joseph s]

Eh. Higher prices just make us feel better

[ron...@comcast.net]

Excellent Joseph

[seysmont]

BOHICA.

[littlede...@gmail.com]

It's give back day. Generally, we should net about zero between yesterday and today on Ps.

[skibrian]

my FMCCK is the only green on the board LOL

My CCT and CCM are red though...

[skibrian]

keep going boys....no heavy volume...just drip drip drip drip drip

[skibrian]

my post here this morning was a bit joking.

in all seriousness, a 7% drop on a 1,000 shares is nothing to panic about!  sucks to see read, but this is certainly not a whale dumping anything.  low volume, to fill an order, causes larger price swings in an illiquid market.  only common stock FMCC is trading around normal volume, everything else I track is below their 10 day and 3 month average, by far

[ron...@comcast.net]

I've been wanting to ask, aren't there algorithms that prevent wild swings and market manipulation on extremely low volume?

[skibrian]

not in the OTC.  It's not a "wild" swing per say...the seller of a thousand shares can see the ask, and if it is 50 cents lower than the last posted price, of say $10, well, he can wait till the ask come up, or he can sell at $9.5, a 5% drop.  His choice in a free market.  There's no algorithm or halting like the NYSE in the wild wild west we are in.

[littlede...@gmail.com]

if a stock drops 10% over a certain amount of time within a trading day.....the issue stops trading.......

[skibrian]

oh, and guess what, my FMCCT shares are still the only ones up!  4 whole cents on 1,400 shares!

[seysmont]

I find it odd that his Fox interview implied something completely different than what was stated later that same day. Insurers flee Obamacare, even though the subsidies are supposedly staying intact with the money from the sweep uninterrupted. Insurers should have been confident with what Mnuchin said. That money goes to them. They gotta know where the money comes from. So them getting nervous is not something you would expect, right? This is some sort of a con. They are trying to calm somebody down with those statements. It's literally what Paulson did in reverse. Paulson was calming the market down right into the seizure. This has the same feel to it, and insurers who are direct beneficiaries of that money panic.

[skibrian]

and my CCT gets thrashed.

all red now

[skibrian]

2,500 whole shares

PANIC PANIC PANIC!!!!!!!!!!!!!!!!!

[Crownjewels]

I think it's a little bigger than all of that, guys (and girls).

Nooch may have lost any edge he had in timing and implementing a recap and release or the equivalent.

He's run into the inevitable mindless opposition ("GSE Shit Wall") that long time observers saw and see and I expect his new deputy or assistant Craig Phillips was shocked by it and has turned dovish.

Again, all speculation on my part since I have no Treasury ino, just instincts.

[seysmont]

You would see massive volume then. And the common would not be the first to react. And it wouldn't be a 180 from Monday morning Fox interview to UST statements. It doesn't make sense. Alex Jones claims somebody threatened him over the phone to drop the GSE's story. It all makes no sense.

[SimSla]

This may be the reason for the bloodbath. Apparently Trump can not give up the cash cow also:

Joseph Lawler‏Verified account @josephlawler

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Trump budget proposes saving $1.1 billion over 10 years by eliminating Fannie/Freddie contributions to housing trust funds

[seysmont]

How is this bad? 

[skibrian]

who the hell knows.

the whales aren't selling...volume is modest compared to our worst days on real news.  but, I've also seen drip drip drip before the real blood bath in the past...that has me worried.  then something happens and they roar back.

Well, my FMCCM is up half a percent!  it's not ALL bad! 

[SimSla]

Well if GSEs money reduces budget deficit this means the sweep goes on.

[seysmont]

This is like charity giving. It has nothing to do with the budget. The GSE's are in conservatorship, and shouldn't give that money to the housing funds. I fail to see anything bad about it. I've read the $200B in future revenues from the GSEs are conditional on housing reform. That's good. Also nowhere does it say he will salt the earth where GSEs once stood. That's also good. Those housing funds is silly when they don't pay any divvies and threaten to wipe out shareholders. You don't give to charities by borrowing on your credit card, and the GSE's shouldn't.

[SimSla]

We need a legal victory. Otherwise they will not give up the money. At this point they do not care about the law since the courts are telling them they can do whatever they want. This puts doubt as to how truthful Watt was in his testimony before the Senate. One way he can spin this is  to stop the sweep for a quarter or two and then resume sending the money to the Treasury.

[SimSla]

Seys it has a lot to do with the budget. Currently the  GSEs send money to the Trust before the Sweep.If they stop the money will be swept at the end of each quarter. What the budget proposal says is we will reduce budget deficit by sweeping the Trust contrubutions.

[SimSla]

[seysmont]

What does it have to do with housing trusts? This is the line that is at risk according to the new budget. I don't see how noting that those contributions are not to be counted on as bad.

[SimSla]

Some light in the tunnel

[ron...@comcast.net]

1. Reform is inevitable
2. Can't snuff out gses in the process of reform given their profitability, laws suits and now media attention
3. Lastly, there's self serving motivation...housing would suffer apart from gses and admin needs to turn around economy of which housing is key

[SimSla]

Let's hope. 146 billion is a lot of money so nothing is off the table.