Freddie Mac
(FRE) opened at $10.96. So far today the stock has hit a low of $10 and a high of $11.44. FRE is now trading at $10.92, up 1.22 (12.60%). After hitting a one-year high of $67.20 in August, the stock hit a one-year low of $3.89 earlier this month. FRE was covered in a Bloomberg Video Report today. To see the video report go to
www.marketintelligencecenter.com/VideoNews.asp . FRE shares are soaring today after President Bush announced he no longer opposes the Congressional housing bill that includes the option of a cash infusion to shore up FRE and Fannie Mae
(FNM). Technical indicators for FRE are bearish and steady, while S&P gives the stock a bearish 2 Stars (out of 5) Sell rating. For a hedged play on this stock, consider an August bull-put spread below the $7 range. FRE could lose up to 36.0% before this trade loses money. [LHF- Seven Summits Strategic Investments NewsBite]