I just found a thread on this, I guess I will have to set a rectangle behind the text in order to make this possible. So I will get the background color of the chart and create a rectangle and then set the rectangle color to the background color of the chart. That should do it.

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I know you can set the background for a chart, still trying to find the exact code, but I am sure it is there, however, what I am really interested in is the ability to change the background on a text label so that the text does not bleed or get buried by other noise data on the chart. I have searched the site and even searched through the code base. Found some great graphic tricks used but not what I was looking for.