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FannieCoin BitMae
For all the grief BitCoin (and so often gold and silver) get during times of excess volatility, especially by those Keynesian prophets who urge everyone to adopt the one true FIATH and put all their cash in stocks (and more please: just use margin) we hear precious little about the ridiculous volatility farce that nationalized mortgage lender Fannie Mae has become: from opening above $4, trading up to $5.50, and now plunging to under $3.00, the stock is nothing but concentrated heatmap of every E*trade momentum chasing baby and dart-throwing monkey in the world (ignoring the fact that all "swing traders" merely respond to "price action" whatever that means and are thus all making money, no matter what happens). As for the fact that the swing in the stock price in the past hour wiped out nearly $15 billion in market cap, or nearly half of the total, on absolute no news (which is also substantially larger than the entire BitCoin market) well... we'll just leave it at that.
This, in one chart, is what the entire "market" has become: a market in which the only thing that matters is what a Princeton economist will have for dinner.
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Topper Jump that shark
Fanny is VERY dangerous. Kyle Bass pulled out of the preferred because he thought the political risk was not worth the return. At a whim of some DC bureaucrat, everybody can be wiped out in 2 seconds.
Curious...how is that different than the S&P?
Or any other financial acronym?
" the swing in the stock price in the past hour wiped out nearly $15 billion in market cap, or nearly half of the total, on absolutely no news..."
You're assuming hedge fund traders and TBTF bankers haven't been tipped off by some insider information.
Well... technically, it's not "news" until it's "news."
Ha ha, you got me there.
Oh come on...
Europe announced the end of Austerity which for all but a few countries never happened, but was handy to blame all the ills of the screwed up system upon, and has decided to reembark upon a debt fueled growth path.
What the fuck could go wrong?
It's all solved!
And everybody's looking at the Fans the Freds the Goobers and the Gobbldiegooks when the whole thing is falling apart right before our very eyes. They're but symptoms of the times, nothing more. Symptoms (Kinda like Jessica Symptom and Dancing with the Czars?)
Until the financial system is reformed, laws properly applied, money removed from the relationship between Wall Street, the Commercial Banks and the Government, it's just gonna keep going down the shitter.
Ignore the noise. Pray for the Best, Plan for the Worst.
Want a bitcoin USB ASIC Miner?: https://bitcointalk.org/index.php?topic=219422.0
No.
lol...bitcredit cards are next, I can just feel it.
This is like watching a slow motion car crash...with your mortal enemy behind the wheel. It's simultaneously awful and hilarious.
I find it all exhilarating...as I know that we will never get out of this broken pachinko machine market, Banana Tree Republic mess...until such time as all of these banks [ie bagholders of equities] are finally washed out, purged, and broken up into useless [if not harmless] bits and pieces.
Until then...work that lever on the pachinko machine, watch the economy continue to disappear, forget job hunting and sign up for government benefits, and wave wistfully at the ever disappearing American dream.
Thank you, Ben Bernanke, for this wasteland you have made for us.
Down to $3?
Buy the Dip Mentality?
Buy the dip mentality...and if that fails, double down and buy the collapse mentality.
Given it's now @ $2.30...may want to wait out the dip a tab bit longer...especially since $.20 is the bottom on this one.
I would rather have gold more than Bitcoin or FNMA... What happens afterwards if FOFOA is right about $55,000 gold?
"My Glimpse Into the Hereafter"
http://tinyurl.com/obzzy2m
Todays range 2.00-5.44. Volume already triple above average. Yeah, looks like a solid buy here...back to 2.97 now.
Should be green by days end...
sarc tag needed?
f'ing A - $3.90 and rising like the Phoenix. just for giggles I bought a 100 shares at $2.50..God I wish I could believe in the Ponzi...oh the fiat I could make.
Trading stocks (short-term) has never worked for me.
You may not know this, but bearings CAN get squashed...
In 3 months time this "stawk" (wealth vehicle) has travelled from $.27 to $5.44...wow. just wow. Investing in 'Merica is amazing. Ummmm...I think that is 1000% return on your fiat. But when it drops back to $.27 again, that will only be a 99% loss...Thus, I'll still be up 901%...
It's a hideous brutality, but I can't look away.
That Etrade baby reminds me of Ackman
Indeed...we have reached a plateau [J. Cramer actually said this today]...where the only true value is that of the no volume, levitating, algo gone berserk, with the caching at the end of it something someone will roll up into AH quotes...or maybe even tomorrow...if ever.
Broken...its a broken Pachinko machine.
Cdad - it's good to know your enemy but fucking A, the fact you know what Cramer said today has me worried for you. He and the lot at CNBS will drive you mad with mis/dis/piss-information.
No need to worry Ham-bone. Cdad's Proprietary BlowHorn [CNBC] Unwatchable Indicator [PBUI] allows me to disconnect prior to that time when BlowHorn programming begins to cause actual brain damage. As of this morning, the PBUI was reading 90...so caution is warranted.
Cramer is the public transmitter of enemy tactics. And what commander would not want to know not only what his enemy is thinking but where his weaknesses can be found (Cramer).
Sun Tzu Quotes
The opportunity to secure ourselves against defeat lies in our own hands, but the opportunity of defeating the enemy is provided by the enemy himself.
Sun Tzu
He who knows when he can fight and when he cannot, will be victorious.
Sun Tzu
Put on your Rapala glove and catch that knife bitch! Grow a pair Mr.sit in your pajamas and trade all day guy!
Bitcoin has been trading pretty stably in the $100-$130 range for about a month now.
Difficulty has been going up like a mxtherfxcker, however, and one of my 7970 just blew up. Ah well, at least it's covered by warranty.
Are you going ASIC any time soon? I heard BFL will ship soon, heh.
Fxcking LOL!
Avalon are shipping, however. They ask for a ridiculous 75 BTC for a rig, however. One was recently sold on eBay - for $22,000!
I think I'll stick to my triple crossfire 7970 (electricity is free). Are you mining?
No. I did the numbers and it's definitely doable at these prices, even with the awful rate I pay EDF. But to me it's an arms race and I'm not so good at arms races.
When vol comes back is when I start making BTC again. And I'm happy to just wait and work on my bots.
Which bots, wonders inquisitive minds!
Couple different private ones so far. Although I'm considering doing an open source one using QSN data as a way to demonstrate our API.
mine is a reverse overhead deframbulator...with the 422 GTX. Best price on dilithium crystals right now is on eBay...
But the price has always been 75BTC... USD is just worth less, that's all.
No, the first couple of runs cost much, much less, and were priced in USD.
The third batch is priced in BTC.
Well, at least FNMA got over $5 so some folks could short the shit out of it.
They bot it up on low volume and slammed all the bids once the book was deep enough. Did you see what went through the dark pools? Lol.
Have a look at UK 10-yr. It's essentially nailed to 2.0% exactly. Any movement either way is immediately met by an opposing force.
Feh- only dumbasses trade penny stocks.....
Take a look at the 1-minute candlesticks on FNMA!!!!
Panic in the streets if this was shown on the Evening National "News"......then again maybe NOT!:):)
OT, but is it any coincidence that Fed Über-Dove Rosengren is speaking at the same exact time as today's nail-biting 5-year auction?
Still up over 800% YTD
Are there human beings involved in any of this?
I'm here reading this.
Does that count?
Can someone tell Kev' that we are not buying the dip this week until ES 1,630. Tell him to get a move on.
while most americans waste time arguing amongst each other, blaming democrats, republicans, blacks, mexicans, or fucking around on their Ishit, or Facefuck...
some people correctly identify their true mortal enemies..... when they bail in (STEAL) ur worthless debt coupon dollars held in those insolvent US Banks like in Europe maybe then approprite actions will be taken....
"The average Spaniard is suffering, and the situation has gotten to the point where on Sunday, a police officer stabbed a former Bankia employee four times after a heated discussion related to the sale of preferred shares in the failed banking group."
http://www.forbes.com/sites/afontevecchia/2013/05/28/spains-bankia-decimates-savers-as-stock-plummets-police-officer-stabs-banker-who-sold-him-shares/
FNMA is a fun stock. At least it goes up and down--a lot. Lots of fun with FRE during the crash that is still ongoing.
LOL. I know the trademark of zerohedge is an acerbic take on the folly of our financial system, but I can tell there's some fatigue creeping in.
Don't worry, things are going to blow up soon, they just have to.
Didn't they just pay some sort of BS $59 billion dividend or was that only for "preferred" foreign Socialist banks and the UST?
How soon we forget; there were dozens if not scores of stocks trading like this 1999-2000, at high volume and with major swings. The responses here and elsewhere demonstrate how starved we are for volatility; also that many new 'market participants' have never seen true vol. They have also never seen a market sell off.
back to virtually unchanged
geez, i coulda doubled my money on this!
You would have been front run going up and coming down by the HAL-9000 Casino-bots.
Welcome back Tyler(s) this is the style of writing that I grew accustomed too.
Exercise... do your Fanniemeaconomics in the middel of the night. And use Credit From The Box for dinnerkit... Twinkies for breakfast, and for lunch, of course... Keeping an eye on the weather as welll... hm... Must.have.umbrella. Or a hat maybe? https://i.chzbgr.com/maxW500/5226046976/h78C1F3F9/ So... and what's that green line do-in overthere?