My Daily Blog is at: http://investorandtrader.blogspot.com/
Bank of America (BAC) is forced to reconstruct mortgage loans that will, in the short term, end up costing them $8 Billion.
They also announce a dividend cut from $0.64 to $0.32
At the same time, the DOW Jones Transportation Index has fallen off a cliff
What is the significance?
NOTE: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research and risk tolerance. Included Music is by Paul Young. A personal friend and is not a part of any music license, recording label, etc