On your way to a ten-bagger - Congratulations!
Not necessarily. "Tis many a slip, twixt cup and lip."
Here's what's happening: Ralph Nader, of all people, says the US should cut the dividend rate on their preferred and let Fannie and Freddie earn their way out of the hole as they are transitioning to cash flow and earnings positive except for the exorbitant rate they have to pay on the government owned preferreds. The rate Fannie and Freddie pay is double the dividend rate the US required AIG, the big banks, et al. to pay.
Financial Times reports that Freddie is lobbying the administration to cut their dividend, and that the administration is sympathetic to that idea. The administration is said to have decided to allow Fannie and Freddie to charge higher, appropriate rates for their guarantees and securitizations. The administration's nominee to head their authority has withdrawn his name, apparently abandoning the plan to draw Fannie and Freddie into letting deadbeats off the hook, as HUD and FHA are doing.
Meanwhile, the short sellers, anticipating a possible buying frenzy when the Treasury's plan(s) is presented to congress, are scrambling to cover, a more difficult task with the often illiquid preferreds than with the common.
Times are 'a changing!