Volume Spike Investor

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE:: FRE) are seeing more downside volume than one could imagine.  We have discussed ramifications of a merger or failure of either one.  Traders are betting against these in a big way and we have seen nearly triple the volume in Freddie Mac and nearly double the volume at Fannie Mae stock.

At 10:38 AM EST we are seeing Fannie shares down a16% at $12.85 on more than 33 million shares (21million average) and Freddie shares are down 27% at $7.43 on 55+ million shares (14 million average).  Both have put in 52-week lows.  The beatings continue.

JON OGG

July 10, 2008