Market Likes Freddie/Fannie News

09/08/2008 12:00 am EST


Thomas Aspray

, Professional Trader & Analyst

The weekend plan for Freddie (FRE) and Fannie (FNM) gave the Asian and European markets a boost. S&P futures have gapped to the upside forecasting a very strong opening. Next resistance at 1300 and then in the 1325 area. Support at 1335-45. FRE and FNM are down 50% in early European trading.

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