PLAY > New Plays	Thursday, December 28, 2000

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FRE - Freddie Mac $68.94 +1.94 (+4.50)

Freddie Mac (Federal Home Loan Mortgage Corp.) buys mortgages from lenders, packages these mortgages into securities and then sells them to investors. The company also guarantees performance on these securities. We are picking this play up as a momentum play as it approaches its recently established new 52-week high at $70.13. On December 18, FRE achieved that level and promptly retreated to the $64.00 range. After building up some steam the stock now look a poised to make another run at taking our the 52-week high. The stock has been making consistent gains since late summer and with earnings coming up in January we are looking for momentum to drive the stock higher. If you are considering opening a new position in FRE, you might consider entry points off support found at recent consolidation of $67.25. Below that the 10-dma at $66.37 should offer support as well. Resistance, as mentioned, is at $70.13. Look for this level to be conquered on good volume over the average of 3.5 million shares. It might be wise to coordinate a new play on FRE with positive movement in the Dow Jones Industrial Average (INDU) and the NYSE Financial Index (NF). We will place our protective stop just below support at $64.50.

Picked on December 28th @ $68.94 Change since picked 0.00 Stop Loss at $64.50
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