TGIF mi amors!

As I promised you all last night I will be doing a quick technical update on Fannie Mae (US OTC: FNMA) this morning which I alerted on Wednesday at a PPS of .28.

Ever since FNMA announced that they have posted a profit for the last quarter everyone has been going mad over this lender of money.

FNMA has taken a lot of heat over the years for bad lending practices and the bashers stated that they single handedly crashed the housing market. No, let’s not take into account personal responsibility and living within your means….IT’S DA EVIL BANKS FAULT! RAWR! <——sarcasm in case you couldn’t tell.

Now that Fannie has posted a profit for a change, people are screaming about economic recovery and how everything is right with the world.

Listen peeps, I know you are raking it in with some nice trades lately, but let’s say you are making $50,000 a year, you cannot afford a $500,000 house. Period.

Okay enough of my rambling and let’s get on with the techs for Fannie Mae, but first another reminder to:

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Don’t forget to join the thousands of other roaches on Twitter for intraday plays, and for heads up tweets when things get  HOT at the StockRoach!

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Alright boy and girls, gather round and let’s pull up FNMA’s chart: http://scharts.co/INFlEn

As you can see we have 2 very nice support levels on this baby, one coming in at .30 and a lower level support right at the pivot of .28. Resistance lies ahead at .32, this is a double top resistance so it’s a bit of a hard nut to crack, but look for a little buying volume to hit this baby and it could potentially soar to new heights and maybe even taking on the 52 week high of .41.

There’s your Friday technical update for Fannie Mae, and stay tuned next week as papa and I bring you some of the hottest picks on the pennies, hey…I might even have a blue or 2 for you as well. So stay hungry my roaches.

Senorita “Everybody’s working for the weekend.” Roachita

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Good evening mi amors!

I sent out a twitter alert on Green Bridge Industries (Pink: GRBG) yesterday telling you all that I was eyeing it at .0005 for a break to .001. Well GRBG pulled back pretty nicely during the early part of trading today and it was an all you could buy flurry of shares at .0005-.0006.

After churning and burning the early sellers, GRBG started running like a scalded dog to hit an intraday high of .0011, so for those roaches that are following us on Twitter, ENJOY YOUR GAINS!

You see, sometimes your Senorita doesn’t have the time to write a long blog just to tell you that a stock is on the move, so it really does pay to follow us on Twitter I can’t stress that enough!

I will be back tomorrow morning to give you all a technical update on the hottest penny stock that has everyone jumping for joy, Fannie Mae (US OTC: FNMA) which was alerted yesterday on the blog at a PPS of .028. Did you miss the news that they actually posted a profit?

Check back tomorrow morning to get the support and resistance levels for FNMA.

In the meantime:

SIGN UP TODAY and start proudly calling yourself a Stockroach! Does everyone here remember the StockRoach motto? We do all the work, and YOU rake in the PROFITS! Click “Right Here” and then don’t forget you have to confirm the “activation” link in your email or you will just be wasting your time waiting for the next winner while the rest of us cash in.  Once you confirm your FREE subscription you can also download your very own FREE copy of our e-Book, “A bottom feeder’s guide to surviving penny stocks.”

Don’t forget to join the thousands of other roaches on Twitter for intraday plays, and for heads up tweets when things get  HOT at the StockRoach!

The StockRoach Twitter feed: http://twitter.com/#!/TheStockRoach

Papa Roach has been sending out alerts via e-mail before they hit the main page so if you are not signed up for our newsletter, the roaches that are signed up have an advantage!

Senorita “Cha-ching” Roachita!

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Government-backed mortgage finance firm Fannie Mae managed to turn a profit in the first quarter, one that was large enough to cover the dividends it must pay to the government in return for being kept afloat with taxpayer dollars.

Fannie, along with sister firm Freddie Mac, was put into conservatorship by the federal government at the height of the financial crisis in 2008, and has been steadily infused with cash since. The first quarter represents a milestone of sorts though, with the mortgage firm recording net income of $2.7 billion. That marks a sharp turnaround from a $2.4 billion loss last quarter and a $6.5 billion loss in the first quarter of 2011.

Most importantly, comprehensive net income of $3.1 billion means Fannie can cover its first-quarter dividend of $2.8 billion, and for the first time in recent memory the firm did not request an additional draw from the Treasury. After the fourth quarter, Fannie requested another $4.6 billion to fill its net worth deficit. Freddie Mac actually recorded positive net income in the fourth quarter, but still needed $146 million to erase its year-end deficit.

Fannie’s total loss reserves declined to $74.6 billion as of March 31, from $76.9 billion at the end of 2011. Those reserves are largely earmarked to cover the legacy book of business made of up bubble-era mortgages that drove Fannie and Freddie into their weakened state.

Despite their condition, the two government-sponsored enterprises have been the last bastion of hope for the mortgage market in recent years. “In tandem, we continue to be the primary source of funding in the mortgage market and our new book of business is growing, profitable, and built on strong lending standards,” said departing CEO Michael Williams.

Shares of Fannie and Freddie, once coveted for their seemingly-bulletproof dividends and the implied government guarantee standing behind the firms, now change hands over-the-counter for about a quarter apiece.

Other plays on the mortgage market are far more interesting though, including mortgage REITs like Annaly Capital Management and American Capital Agency Corp. Like more traditional real estate investment trusts, the mREITs receive favorable tax treatment in return for paying out the vast majority of their income to shareholders, but they generate that income by investing in mortgage-backed securities.

Barclays Capital analyst Mark DeVries noted in a recent interview that the mREITs, which offer rich dividend yields currently in the mid-teens, can remain attractive as long as their funding costs are low, a condition that seems likely to remain in place for some time given the Federal Reserve’s ongoing zero interest-rate policy.

Source: http://www.forbes.com/sites/steveschaefer/2012/05/09/bailout-milestone-fannie-mae-says-it-doesnt-need-more-treasury-cash-this-quarter/?partner=yahootix

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Fannie Mae Releases August 2011 Monthly Summary

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Companies:
FANNIE MAE

Related Quotes
Symbol Price Change
FNMA.OB 0.24 0.00
Chart for FANNIE MAE
Press Release Source: Fannie Mae On Friday September 30, 2011, 9:08 am

WASHINGTON, Sept. 30, 2011 /PRNewswire/ — Fannie Mae’s (OTC Bulletin Board:FNMA.ob – News) August 2011 Monthly Summary is now available at www.fanniemae.com/ir/monthly. The monthly summary report contains information about Fannie Mae’s monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, serious delinquency rates, and loan modifications.

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America’s secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

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Pending home sales fall 1.2 percent in August: NAR
reuters

Companies:
SPDR S&P Homebuilders

Related Quotes
Symbol Price Change
XHB 13.70 +0.12
Chart for SPDR Series Trust SPDR Homebuil
On Thursday September 29, 2011, 11:18 am

WASHINGTON (Reuters) – Pending sales of existing U.S. homes fell less than expected in August despite rock-bottom mortgage rates, underscoring the difficulties policymakers face in helping the struggling housing sector.

The National Association of Realtors said on Thursday that its pending home sales index, based on contracts signed in August, was down 1.2 percent to 88.6, its lowest since April.

Analysts polled by Reuters ahead of the report were expecting sales to decline 1.8 percent.

Hurricane Irene, which battered the Northeast at the end of the month, was likely a factor in the decline. Sales in the Northeast fell 5.8 percent.

But the NAR’s chief economist Lawrence Yun said tight credit was also holding back the overall housing market.

Banks clamped down on credit when the financial crisis struck in 2007 and credit conditions remain restrictive for many households.

“The housing market is basically stuck at a low level. I don’t see any evidence that sales will fall much further, but there is no rebound yet either,” said Jim O’Sullivan, chief economist at MF Global in New York.

The U.S. Federal Reserve slashed interest rates during the crisis and has continued to break out new tools to try to get banks to lend more to help the economy recover from recession.

Last week it unveiled measures to boost lending to home-buyers but analysts caution that the level of mortgage rates is not the main hurdle to buying.

The Fed’s low interest rate policies have helped push 30-year mortgage rates to their lowest since at least 1971, when mortgage finance provider Freddie Mac started tracking them. This week they hit a record low 4.01 percent.

Many economists are skeptical attempts to lower rates will help much because millions of Americas owe more on their mortgages than their homes are worth, which can effectively chain them to their properties while also preventing them from refinancing to lower their monthly costs.

The White House is also trying to work out a plan to help the depressed sector. The administration is working with the Federal Housing Finance Agency, a regulator, to try to expand a program that helps distressed borrowers with government-backed loans.

Some other government props for the sector, however, are set to fall away. At the end of this month, the size of the loans federal housing agencies can back will fall and next year government-controlled mortgage finance companies Fannie Mae (OTC BB:FNMA.OB – News) and Freddie Mac (OTC BB:FMCC.OB – News) will begin to raise fees on the loans they purchase.

Here’s a late night special from your boy El Cucaracho, because we know roaches never sleep when there’s money to be made!

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