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Buzz & Banter



Just a heads up: A move to 66 breaks a triple bottom (in point & figure terms that is bad) on Fannie Mae (FNM:NYSE). This stock has already failed a shakeout pattern and is dripping lower this morning.

On a longer-term basis, 66 is just a blip on the screen as the key support area to focus on won't come into play until the 60 area.

If you can, pull up a two-point chart of Fannie that goes back to 2000 and you'll see what I mean. When Tony says topping is a process, this is exactly what he means. Sometimes the process takes longer than we expect.

Also, does anyone know if it's OK to eat a pound of pistachio nuts in a little less than an hour?

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Position in FNM

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