The Dow ended at 11502, apparently on the "good" news of improved durable goods orders. Volume was very low again today. There was a rumor that the Treasury was going to make an announcement concerning Fannie (FNM) and Freddie (FRE), but the Treasury finally denied it. The GSE’s still made gains of 15% and 19%, respectively. I remember when Enron traded this way….towards the end….
I’ll have the wrap-up later this evening, with an XLF chart. If there are any other requests, please email me from the link on the site. Here’s a look at the 5 minute S&P chart from today showing the uptrend.
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More on this topic
(What's this?)
More Debunking of the “Freddie and Fannie Caused the Crisis” Meme
(naked capitalism, 8/5/10)
Representatives Convey and Kaptur Call on Geithner, Fannie, FHFA to Stop Efforts to Pursue Strate...
(naked capitalism, 8/13/10)
A Helpless Housing Market Keeps Fannie and Freddie in Limbo
(Money Morning, 8/17/10)
