@muscleman
I haven't seen any evidence that everyone thinks TA is voodoo. I think many don't understand what you do is all. What I have seen is that some people are curious about it, myself included. And I generally enjoy your posts.
Why don't you ever explain what you're doing, or provide a link to some illustrative instructional info?
Everybody relax... The big picture: back in the days of the Berko run from end of 2012 through Lamberth 2014 the 5 monthly ma contained all retracements. A history of 23 months. Today's 5 MMA for fnmas stands at $11.43, for fmckj at $11.31 and for fnmat at $10.74. We are well within normal retracement territory and likely July will test these levels. Preferreds just ran too fast, too strong. Nothing has changed.
No intention for insult, but if this is the kind of technical analysis you do, no wonder why you guys all think TA is just non-sense and voodoo. 
I think all investors (especially in GSEs) are trying to predict future events under conditions of uncertainty. I typically use my research and life experience to make this analysis...very subjective. I suppose reading charts is more objective, until you hear all of the subjective discussion about what is the right why to do TA. I have seen TA that makes very precise assertions about future action and this is the part that seems delving into black magic. but if it keeps you sane and even makes some money for you I'm all for it...for you
If you check all my prior posts, it tells you all.
But I can give you a summary here. I don't buy/sell a stock because a magic fast moving average crosses a slower moving average. That's complete non-sense.
What I do is to read the news and the FA, see who are bashing and pumping the stocks, and how the stock reacts.
I had high confidence when white house published the paper in March because no way white house would be involved in pumping the stock. Then a few days later, there was a big bash by Gaparino, and I was watching that closely. At the end of the day, the stock completely recovered, and later that week, I noticed that the volume happened to be the lowest that week on the Gapirino bashing day. So I was even more bullish on the stock.
Later it had a reasonable run, and I was still quite bullish, until the whack job Bill Maloni started spreading rumors that the Collins ruling was coming on Friday afternoon. That obviously didn't materialize, even on Monday. So that's a clear sign of warning. I waited for a few more days, and turned very bearish. I later decided to get out completely a few days after the Bloomberg sucker article with all kinds of false narratives came in. I thought that article was another bashing attempt like Gaspirino, which means stock should promptly recover and go to high grounds, but that didn't happen, so something else was going on. I sold out. Then Calabria changed his tune from "IPO in the 1st Quarter next year" to "Hopefully sometime next year". So that's a clear sign of negativity.
I still think a lot of discussions here make sense, so I am still closely watching this, hold a lot of cash, and be ready to get in again.
