Federal Home Loan Mortgage (FRE) NewsBite - FRE Covered In Lee Allen Report Today

Thursday, August 28, 2008 10:08 AM EDT

Federal Home Loan Mortgage (FRE) was covered in a Lee Allen Report today and the stock is now at $5.06, up $0.31 (6.53%) on volume of 34,482,573 shares traded. To see the report http://www.iotogo.com/la82808 . This stock has been under recent pressure as investors wait on Washington to decide the company's fate. Over the last 52 weeks the stock has ranged from a low of $2.26 on 8/21/08 to a high of $65.88 on 10/4/07. Federal Home Loan Mortgage stock has been showing support around $4.04 and resistance in the $5.16 range. Technical indicators for the stock are neutral and S&P gives FRE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on FRE the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 4 range. [LBR-Seven Summits Strategic Investments NewsBite]

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