Volume Spike Investor

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are back in the gaining camp and are some of the NYSE most active stocks in the early trading.  At 8:41 AM EST we have Fannie Mae shares trading up 3.5% at $1.74 on 2.2 million shares and Freddie Mac shares up over 4% at $2.13 on 800,000 shares.  These are far short of total volume explosions, but these are back to the highest prices seen so far in September.

Resistance for Fannie… prior highs were $1.85, $1.93 and $2.04 on a CLOSING basis, and $1.97 to $2.13 on an intra-day basis.

Resistance for Freddie… prior highs were $2.24, $2.29 and $2.40 on a CLOSING basis, and $2.34 to $2.50 on an intra-day high basis.

JON C. OGG