Anyone watching the stock ticker?

[Atman]

Down 197 points as I type this.

.

[Ian David]

1. Is it something YOU did? n/t

[WCGreen]

2. It was worse just a few minutes ago...

[stirlingsliver]

3. Bush Will Lose Even More Support!

Bush's buddies on Wall Street are starting to desert him.

Bush is toast.

[Robbien]

8. what nonsense

hyperbole

[cherokeeprogressive]

4. Been due for a correction for a while now. Don't panic. eom

[Raven]

5. Middle income Americans are the real losers.

Peoples' retirement accounts.

[Blackhatjack]

6. I wonder if this is related to story I heard about money moving out of US stocks....

.... and the stated intentions of Middle Eastern countries 'unpegging' their currencies from the dollar(Saudi Arabia, UAE, Kuwait, etc.).

[ThomWV]

10. In many cases its sort of a meaningless distinction "US Stocks" these days

What with more and more of the companies that are traded being international in their scope and of course ownership of a company can often best be defined by who owns them, and these days the owner of a share of Exxon might just as well be a shopkeeper in Belgium as a banker in New York or a farmer in Alberta.

[Blackhatjack]

14. Well let me be more specific then...

Some analysts were saying that longtime investors in stocks were 'taking the money off the table' once they got the market at an all time high, and that many top corporate officials holding stock options were cashing out while the price was at the all time high.

THere does not seem to be any catalytic reason for the run up of the stock market recently, but if you were looking to get out or cash in your options it would have been the perfect time to do that.

[truebrit71]

24. Absolutely. Now would be a very good time.

.

[DemReadingDU]

26. It wouldn't surprise me that those running up the market

that they are taking the profits and stashing them in a secret Swiss bank account. After the market slides to the bottom, we in middle America, will have lost the value in our IRAs and pensions.

:(

[ThomWV]

7. Down 204 at the moment!

[MonkeyFunk]

9. down 242 now

[Warpy]

11. First time everything I own is down

Sic transit glorious money.

So far, it's just a hiccup. You can't have a day's worth of really, really bad news and not expect panic selling. It's like a ritual.

If it falls over 2000, my interest will be more piqued.

[fed-up]

12. today-New-Home Sales Take Steep Slide-yesterday-Home Sales (existing) Stay Sluggish

http://www.thestreet.com/s/new-home-sales-take-steep-slide/newsanalysis/homebuildersconstruction/10370362.html?puc=_googlen?cm_ven=GOOGLEN&cm_cat=FREE&cm_ite=NA
New-Home Sales Take Steep Slide


By Nicholas Yulico
TheStreet.com Staff Reporter
7/26/2007 10:32 AM EDT
Click here for more stories by Nicholas Yulico

Updated from 10:20 a.m. EDT


New-home sales tumbled nearly 7% from May to June, and inventories remained at heightened levels -- a fresh sign that the housing market is showing no signs of improvement.

Sales totaled an annual rate of 834,000 homes in June, the Census Bureau said Thursday. That was down from May's rate of 893,000 units -- which itself was downwardly revised from the previously estimated 915,000 units.

The sales level in June was down 22% from a year earlier.

The results were worse than expected, as economists predicted an annual level of 900,000, according to Reuters.


...snip




and yesterday's report on existing home sales

http://www.thestreet.com/s/home-sales-stay-sluggish/newsanalysis/homebuildersconstruction/10370088.html

Home Sales Stay Sluggish


By Nicholas Yulico
TheStreet.com Staff Reporter
7/25/2007 3:59 PM EDT
Click here for more stories by Nicholas Yulico

Updated from 11:08 a.m. EDT

The U.S. housing market continues to show few signs of improvement, with existing-home sales falling again in June and inventories remaining at historically high levels.

The National Association of Realtors said Wednesday that sales of existing homes in June reached an annual rate of 5.75 million units, down 3.8% from May and 11.4% from a year earlier. Economists expected a rate of 5.9 million sales, according to estimates from Reuters.

The NAR report said total housing inventory fell 4.2% at the end of June to 4.20 million units. At the June sales pace, that still represents 8.8 months of supply, the same as the May level, and is the highest since 1992.

The national median existing-home price in June was $230,100, a 0.3% rise over a year earlier. The median is a typical market price where half of the homes sold for more and half sold for less.


...snip

[truebrit71]

13. Cue Tom Petty...."Freefallin' "

The market is so over-valued right now it's not even funny, and even though the Sec of the Treasury and the Fed keep talking down the sub-prime atomic bomb quietly ticking in the cupboard, there are more than enough smart folks that have seen the warning signals and are sitting this one out...

[A HERETIC I AM]

23. Historical P/E chart;

Doesnt look too overvalued at all. Looks cheap.

[Stinky The Clown]

15. Its all relative

Back when the Dow was at 1,000, a couple of hundred points was HUGE. At 5,000, those same few hundred points mattered a lot. At 10,000, not quite so much. At the current 15,000, even less.

Is it newsworthy? Of course it is. Added to yesterday, its down about 400 points. But compared to the real drops, it needs to go down a good bit more.

I'm not cheering or poo-pooing any of this ..... just putting some perspective on it. I've been aware of the DOW for many decades and am still in the mindset that a hundred points matters. It really doesn't .... so I need to keep reminding myself of that.

[sammythecat]

25. Absolutely right

Some media are fond of screaming headlines like, "Largest point drop (rise) in Wall Street history!!", but when looked at in the proper perspective it isn't a big deal at all.

I'm surprised no one has raised the alarm that the daily death toll around the world is many, many, times higher than it was in the days of the Roman empire.

[Robbien]

16. Hedge funds trouble causing the dollar to drop against the yen

Another big hedge fund is in trouble.

[mahatmakanejeeves]

17. If you talk about it,

you'll encourage the naysayers who hate America.

[Connie_Corleone]

18. And I'm feeling it too. I've been feeling it all week.

One of my stocks has gone down 30% in 3 days.

Hedge funds are screwing with my stock.

[Virginia Dare]

19. The housing market is tanking..

we all knew this was coming. Out of control inflation will be next.

[CountAllVotes]

20. I watch ...

but I have had nothing in it since I lost money in 2002/03. Right now my 6.25% CDs are looking very good. :)

:kick:

[zippy890]

21. Time to check Stock Market Watch on LBN

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2930210&mesg_id=2930210

DU's own marketeers are a great source of info in this very topic

[proud2BlibKansan]

22. Don't hit me but I am glad

I invested my inheritance yesterday. My stock broker was thrilled that yesterday was the day we got in.

[MissB]

27. eh?

[Atman]

28. You could have just given the money to ME!

What on earth are you glad about, one day after you got it?

.