This is the intraday chart that I cited in this morning's Early Look. For your viewing displeasure, we shine a flash light on the portion of the Bank of America (BAC) chart's volume and price action that should sadden any American investor to the core. After the close, BAC unloaded 1.25B shares of stock in order to raise $13.25 billion dollars.
The said leaders of this country are overseeing the compromise of the American Financial System's credibility, real time.
Your political smirk insinuates that post your made-up rules to a made-up test, that all is well in the land of nod. The US Dollar being marked-to-market on its lows today should provided you a stiff reminder that being the Secretary of the US Treasury has other responsibilities other than just pandering to your boys club of conflicted bankers.
While I have been bullish on America and her stock market for the last 3 months, I have started selling aggressively today. This BAC chart is one of the main reasons why.
Shame on the rats who trade on inside information. They are un-American.
Keith R. McCullough
Chief Executive Officer