Freddie Mac-No Politics (FMCC)

[mr_bitterness]

FRE = Nice ride so far! The last few days have been like the part where the pinky goes from triple-oh-zeros to double-oh-zeros. And now FRE feels like the pinky you've found is more than your average pink, complete with an amazing story, real live books, and they just made a huge contract with a big player so pennies are coming soon.

Only since it's FRE and not some pink, and the contract is an historic "agreement" with the G, it just broke from the double zeros into the dollars.

RSI has some resistance to get through (which could create buying opps.) if it is going to get there, but I am very curious as to how it will handle $2.50. Not far from there to 3.60, and not far from there to 4.65 - 5.10 when you think about it.

RSI14 is moving towards an area that has been resistance for months.
RSI2 = 99.8725 on alphatrade and 98.7 on stockcharts. That is right between reversing hard and another day or two of fast moves up. Will it stay pinned and pull RSI14 up past resistance, or drop and add to resistance on the RSI14? Once both RSIs are above 70, look out above.

FRE, like any pink, is waiting on news; the positive result of the hearings. And like many pinks in the same position on the charts, the news may be delayed, resulting in even more trading days, and more risk, until it hits.

At the same time, once it closes above $1.00 for a few days it will come up on more radar screens and probably move even higher. The only danger is the MM short, which, if used to truly allow them to provide liquidity, shouldn't be a problem for a couple weeks.

There's one more thing going for FRE. The government of the United States of America needs Freddie to succeed for the good of the people.