Twitter Ticker ($FNM)

• Charles Amadeus
• August 25th, 2009

Federal National Mortgage, better known as Fannie Mae, is buzzing on StockTwits as it closes up +40% on Monday. Things are looking up for the once troubled housing lender as it forms a triple top breakout, and trades in an uptrend above a rising upper Bollinger.

A break below 1.45 will initiate a secondary downtrend, but consider it a buying opportunity so long as FNM holds above .84. Housing and mortgage related companies continue to do well as more participants perceive a growing economy.

Housing stocks like Hovnanian ($HOV) and Beazer ($BZH) are acting strong, as are retailers like J. Crew ($JCG), Joseph A Banks ($JOSB) and Lululemon ($LULU). This trend favors further market gains as consumers are spending money on houses, clothing etc. Check this screen for more ideas on how to profit from the ongoing rally.