Opinion on  Fannie Mae (FNM)     Sector: Financial  >  Industry: Consumer Financial Services
Fannie Mae (NYSE: FNM) is TheSUBWAY Stock Traders Pick of the Day

We are getting into Fannie Mae (NYSE: FNM) this morning.  After what appears to be a recent bottom we are seeing confirmation of upside momentum in Fannie Mae (NYSE: FNM):

Recent bottom in Fannie Mae (NYSE: FNM):

Volume has been building in Fannie Mae (NYSE: FNM), which is showing us strength:

Stochastics for Fannie Mae (NYSE: FNM) are also in excellent position for a continued move to the upside:

Our daily chart is showing upside momentum:

Our 15 minute chart is also showing momentum in Fannie Mae (NYSE: FNM):

We are anticipating a strong move to the upside in Fannie Mae (NYSE: FNM), which we we will see confirmation forming in our Weekly chart, whereas the Stochastics will start to turn upward forming an upward trend:

Our PHILS X2 chart also just turned blue, which signals institutions are buying Fannie Mae (NYSE: FNM):

We are seeing tremendous upside potential in Fannie Mae (NYSE: FNM), it is above resistance of $1.52, with the next resistance at $27.37!  We will be following Fannie Mae (NYSE: FNM) with a tight trailing stop of about .10:

This morning we are getting into Fannie Mae (NYSE: FNM) again.  We are seeing relative strength with FNM up over 10% in a negative tape:

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Our daily chart is not showing a trend developing yet in Fannie Mae (NYSE: FNM), but more of consolidation range so we will step into FNM with a small initial position.  We will look for FNM to break our trendlines to the upside and we will add to our position, keeping our tight stop in, around 5% today:

Last week saw a nice uptrend in Fannie Mae (NYSE: FNM) in our 15 Minute Chart, which has flattened out since Friday.  We are looking for this upward momentum to continue if the two houses pass this 700 Billion Bailout:

Our Weekly chart is not showing an upward trend:

Though our Phils X2 is blue, which signals institutional buying in the stock:

Our Phils X1 is showing Fannie Mae (NYSE: FNM) above support of .42 with the next resistance at $2.27.  Volueme is light compared to the last few days, we suspect traders are waiting to hear what the two house decide about the 700 Billion Dollar Bailout.  It is also under the 50, 100 & 200 day moving averages, so we are not looking for Fannie Mae (NYSE: FNM) to be an investment, but only a trade: