- The Big Picture - http://www.ritholtz.com/blog -

Fannie Mae: Ouch!

Posted By Barry Ritholtz On November 20, 2007 @ 10:16 am In Corporate Management,Credit,Derivatives,Earnings,Short Selling,Technical Analysis,Trading | Comments Disabled

On Friday, we noted that Fannie Mae Looks Like Hell [1]. In the weekend linkfest [2], we noted the Fortune article about Fannie Mae, as well as out own "Sell" on the stock.

The emails from numerous readers were fascinating. I learned some things about my ancestry that turned out to be less than complimentary; I got to imagine several hypothetical yoga positions that, unless one is amazingly flexible, appear to be impossible. I was also informed that I had no insight whatsoever into "how the trading of stocks works." Oh, and, it turns out that according to one emailer, I am "f$%^ing clueless." My favorite was the one suggesting I should get cancer and die. 

The closest thing to legitimate criticism came from B, who this morning noted it was "better to be lucky than smart."

Indeed.
>

click for active chart

Fnm [3]

>
For those people who are still interested, despite the myriad of issues with my ancestry, intellect, and "f$%^ing cluelessness," I believe covering half of any short positions today is the prudent approach to such an outsized move — 10 points in 2 days . . .

>


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2007/11/fannie-mae-ouch/

URLs in this post:

[1] Fannie Mae Looks Like Hell: http://bigpicture.typepad.com/comments/2007/11/fannie-mae-look.html

[2] weekend linkfest: http://bigpicture.typepad.com/comments/2007/11/pre-thanksgivin.html

[3] Image: http://finance.google.com/finance?q=FNM

Copyright © 2008 The Big Picture. All rights reserved.