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FannieCoin BitMae

Tyler Durden's picture




 

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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Wed, 05/29/2013 - 11:37 | 3607569 The Axe
The Axe's picture

Topper       Jump that shark

Wed, 05/29/2013 - 11:46 | 3607604 slaughterer
slaughterer's picture

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.  

Wed, 05/29/2013 - 11:48 | 3607616 Cdad
Cdad's picture

Curious...how is that different than the S&P?

Wed, 05/29/2013 - 11:51 | 3607627 NotApplicable
NotApplicable's picture

Or any other financial acronym?

Wed, 05/29/2013 - 12:16 | 3607700 Kiss My Iceland...
Kiss My Icelandic Ass's picture

 

 

" 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.

Wed, 05/29/2013 - 12:18 | 3607709 NotApplicable
NotApplicable's picture

Well... technically, it's not "news" until it's "news."

Wed, 05/29/2013 - 11:52 | 3607633 slaughterer
slaughterer's picture

Ha ha, you got me there.  

Wed, 05/29/2013 - 11:56 | 3607645 knukles
knukles's picture

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.

Wed, 05/29/2013 - 16:24 | 3608446 PSEUDOLOGOI
PSEUDOLOGOI's picture

Want a bitcoin USB ASIC Miner?: https://bitcointalk.org/index.php?topic=219422.0 

Wed, 05/29/2013 - 17:26 | 3608598 JuliaS
JuliaS's picture

No.

Wed, 05/29/2013 - 18:51 | 3608744 nmewn
nmewn's picture

lol...bitcredit cards are next, I can just feel it.

Wed, 05/29/2013 - 11:37 | 3607573 alien-IQ
alien-IQ's picture

This is like watching a slow motion car crash...with your mortal enemy behind the wheel. It's simultaneously awful and hilarious.

Wed, 05/29/2013 - 11:46 | 3607608 Cdad
Cdad's picture

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.

Wed, 05/29/2013 - 11:49 | 3607623 Bay of Pigs
Bay of Pigs's picture

Down to $3?

Buy the Dip Mentality?

Wed, 05/29/2013 - 11:51 | 3607632 Cdad
Cdad's picture

Buy the dip mentality...and if that fails, double down and buy the collapse mentality.  

Wed, 05/29/2013 - 11:53 | 3607636 Ham-bone
Ham-bone's picture

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.

Wed, 05/29/2013 - 12:04 | 3607675 DoChenRollingBearing
DoChenRollingBearing's picture

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

Wed, 05/29/2013 - 12:14 | 3607696 Bay of Pigs
Bay of Pigs's picture

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?

Wed, 05/29/2013 - 12:20 | 3607712 Ham-bone
Ham-bone's picture

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.

Wed, 05/29/2013 - 12:31 | 3607749 DoChenRollingBearing
DoChenRollingBearing's picture

Trading stocks (short-term) has never worked for me.

You may not know this, but bearings CAN get squashed...

Wed, 05/29/2013 - 12:48 | 3607760 Ham-bone
Ham-bone's picture

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%...

Wed, 05/29/2013 - 12:17 | 3607703 NoTTD
NoTTD's picture

It's a hideous brutality, but I can't look away.

Wed, 05/29/2013 - 11:37 | 3607574 azzhatter
azzhatter's picture

That Etrade baby reminds me of Ackman

Wed, 05/29/2013 - 11:38 | 3607577 Cdad
Cdad's picture

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.

Wed, 05/29/2013 - 12:10 | 3607691 Ham-bone
Ham-bone's picture

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.

Wed, 05/29/2013 - 12:27 | 3607736 Cdad
Cdad's picture

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.  

Wed, 05/29/2013 - 12:37 | 3607766 JR
JR's picture

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

Wed, 05/29/2013 - 11:43 | 3607590 Dr. Engali
Dr. Engali's picture

Put on your Rapala glove and catch that knife bitch! Grow a pair Mr.sit in your pajamas and trade all day guy!

Wed, 05/29/2013 - 11:42 | 3607591 EscapeKey
EscapeKey's picture

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.

Wed, 05/29/2013 - 11:46 | 3607606 malikai
malikai's picture

Are you going ASIC any time soon? I heard BFL will ship soon, heh.

Wed, 05/29/2013 - 11:49 | 3607620 EscapeKey
EscapeKey's picture

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?

Wed, 05/29/2013 - 11:59 | 3607647 malikai
malikai's picture

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.

Wed, 05/29/2013 - 12:10 | 3607689 EscapeKey
EscapeKey's picture

Which bots, wonders inquisitive minds!

Wed, 05/29/2013 - 12:40 | 3607775 malikai
malikai's picture

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.

Wed, 05/29/2013 - 14:18 | 3608068 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

mine is a reverse overhead deframbulator...with the 422 GTX. Best price on dilithium crystals right now is on eBay...

Wed, 05/29/2013 - 12:21 | 3607718 laomei
laomei's picture

But the price has always been 75BTC... USD is just worth less, that's all.

Wed, 05/29/2013 - 12:31 | 3607748 EscapeKey
EscapeKey's picture

No, the first couple of runs cost much, much less, and were priced in USD.

The third batch is priced in BTC.

Wed, 05/29/2013 - 11:43 | 3607594 Motorhead
Motorhead's picture

Well, at least FNMA got over $5 so some folks could short the shit out of it.

Wed, 05/29/2013 - 11:44 | 3607595 ZeroPower
ZeroPower's picture

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.

Wed, 05/29/2013 - 11:45 | 3607600 EscapeKey
EscapeKey's picture

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.

Wed, 05/29/2013 - 11:46 | 3607605 jcaz
jcaz's picture

Feh- only dumbasses trade penny stocks.....

Wed, 05/29/2013 - 11:47 | 3607612 ChaosEquilibrium
ChaosEquilibrium's picture

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!:):)

Wed, 05/29/2013 - 11:51 | 3607629 slaughterer
slaughterer's picture

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?    

Wed, 05/29/2013 - 11:51 | 3607631 firstdivision
firstdivision's picture

Still up over 800% YTD

Wed, 05/29/2013 - 11:53 | 3607638 ebworthen
ebworthen's picture

Are there human beings involved in any of this?

Wed, 05/29/2013 - 11:59 | 3607656 knukles
knukles's picture

I'm here reading this.
Does that count?

Wed, 05/29/2013 - 11:54 | 3607642 slaughterer
slaughterer's picture

Can someone tell Kev' that we are not buying the dip this week until ES 1,630.  Tell him to get a move on.  

Wed, 05/29/2013 - 11:57 | 3607650 Kaiser Sousa
Kaiser Sousa's picture

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/

Wed, 05/29/2013 - 11:57 | 3607652 q99x2
q99x2's picture

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.

Wed, 05/29/2013 - 12:03 | 3607666 dolph9
dolph9's picture

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.

Wed, 05/29/2013 - 12:09 | 3607685 SmittyinLA
SmittyinLA's picture

Didn't they just pay some sort of BS $59 billion dividend or was that only for "preferred" foreign Socialist banks and the UST?

Wed, 05/29/2013 - 12:13 | 3607695 Hongcha
Hongcha's picture

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.

Wed, 05/29/2013 - 12:38 | 3607767 Frank N. Beans
Frank N. Beans's picture

back to virtually unchanged

geez, i coulda doubled my money on this!  

Wed, 05/29/2013 - 15:20 | 3608289 Nue
Nue's picture

You would have been front run going up and coming down by the HAL-9000 Casino-bots.

Wed, 05/29/2013 - 16:26 | 3608454 El Diablo Rojo
El Diablo Rojo's picture

Welcome back Tyler(s) this is the style of writing that I grew accustomed too.

Wed, 05/29/2013 - 16:40 | 3608493 100pcDredge
100pcDredge's picture

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?

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