[movermike] movermike: FRE and FNM Hit Hard

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Posted by movermike:
FRE and FNM Hit Hard
http://www.movermike.com/posts/1195586957.shtml


   They took Freddie Mac (FRE) out and shot him! ([1]see chart) and
   Fannie Mae (FNM) doesn't look much better ([2]see chart)

   FRE is down at this time 30.67% and FNM is down 25%. What happened?
   According to the [3]WSJ,

     Freddie Mac reported a loss of $2 billion for the third quarter and
     said it is "seriously considering" a 50% cut in its fourth-quarter
     dividend. It, also, expects similar results for the current
     quarter, which would further erode its capital.

   [4]Freddie Mac (FRE) [5]Fannie Mae (FNM) [6]Mover Mike

References

   1. http://stockcharts.com/charts/gallery.html?fre
   2. http://stockcharts.com/charts/gallery.html?fnm
   3. http://online.wsj.com/article/SB119556248413999149.html?mod=hps_us_whats_news
   4. http://technorati.com/tag/Freddie+Mac+(FRE)
   5. http://technorati.com/tag/Fannie+Mae+(FNM)
   6. http://technorati.com/tag/Mover+Mike