Barney Frank's appearance on CNBC popped the market up to its VWAP Line, but the market then retreated again to the day's low. I suspect that the overseas markets will be weak as well.
The irony is that the trading activities of investment banks is not the cause of our financial problems. The problem started with the politicians pressuring banks to approve risky mortgages for political reasons. That problem has not gone away.
Charles
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