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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."


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

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