The Site > Old Forums > It Is The Economy, Stupid > Stock Market Crashing...down 330 points right now

Re: Stock Market Crashing...down 330 points right now

reply to Rick
Well of course the markets crashing. I had a lot of cash sitting in my IRA for years, afraid to invest it because of the beating I took in 2000. The market has been going up and I waited for it to drop. It just kept going up, so last week I finally invested all of it. Every day since then the market has gone down. I just can't win.
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RIP my baby Buttons 1/15/94-2/9/07

reply to Rick
About 9.5 hours until the market opens: »money.cnn.com/data/premarket/

Tuesday will be the real interesting day. Reports on income, spending, and inflation.

reply to Rick
Does anyone here own stock in American Home Mortgage?.. stock symbol AHM

They announced Friday evening ( they waited until the market closed ) that they will not now pay the dividend due shareholders...This is serious..very serious and the stock should be in serious trouble when the market opens in a few hours ( Monday)..

Here is their stock chart ( stock closed Friday at $10.47) and notice the 52 week high and 52 week low and tomorrow should be very ugly with a lot of very angry shareholders.

»finance.yahoo.com/q?s=AHM

and here is an article about them pulling the stock dividend
»biz.yahoo.com/bw/070727/20070727···tml?.v=1

Here's one of their commercials.

reply to Rick
Futures have been fluctuating in and out of positive territory all morning. It looks like anything, positive or negative, could push the market in that direction. Market psychology could also be a determining factor, if the market opens strongly in one direction or the other.

reply to sailor

reply to tim_k
I blame tim_k

reply to tim_k

said by tim_k:

Well of course the markets crashing. I had a lot of cash sitting in my IRA for years, afraid to invest it because of the beating I took in 2000. The market has been going up and I waited for it to drop. It just kept going up, so last week I finally invested all of it. Every day since then the market has gone down. I just can't win.

reply to sailor

reply to Rick
The sky is falling.

reply to sailor
American Home Mortgage (AHM) is down approx 40% from pre-market trading to around $6.30 ( it closed Friday at $10.47)

Edited to add: as of close to 2PM looks like they have it shut down for trading still...(looked open around 11 but must have been a glitch as it is still not trading.

Link to its trading on Yahoo 20 minute delayed quotes..If it shows last Friday's price of $10.47 then trading is still halted.

»finance.yahoo.com/q?s=ahm

As for the over-all market, the bulls are trying desperately to rally the market today but the bears are keeping the selling pressure on any rally attempt by the bulls...

If the bulls succeed and the market rallies to close up it will be a very positive thing for the market tomorrow but if the bears continue control and sell off the market at the close, tomorrow could even be more uglier.

Bulls seem to have the upper hand. DJIA is up 120 points at 3:30 PM.
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Need-based health care not greed-based health care.

reply to Rick

Green

DJIA - Intraday (10 minute)

DJIA - Daily

The VIX (Volatility Index)

reply to DKS

reply to Rick
Nice to see the market rebound a bit, but I still have a bad feeling about where the market is headed. So much so that when I recouped about 60% of what I had lost on Thursday and Friday, I dumped a lot of stock and moved some the $$$ to my money market, tax free bonds, and less volatile stock like P&G.

reply to Rick
IMO, It is a good thing when the market takes a plunge. Then bargin hunters can step in and shop stocks at a lower then normal price.

There should never be another crash like the one that made the way for the depression. Supposedly there are built in safties that will prevent that from happening. But as we all know, anything built or designed by man has flaws.
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Say no to the IRS.. Yes to the Fair Tax! This beer is for: 464th bat. 98th div. Combat engineers. Hillside Ave schenectady NY.