the dow again struggles to gain.  dow is down another 50 points on the day and is nearing the 13,000 mark.  investors seem worried about the feds chairman's speech on friday.  the volatility of the stocks isnt likely to disappear anytime soon, said todd salamone, director of trading at schaeffer's investment research.  investors are hoping bernanke will stress that the central bank well step in if or when the markets deteriorate any further. 

The S&P Case-Shiller Home Price Index says price declines are worsening, with no sign of slowing down.  the index fell 3.2 percent in the second quarter, compared to last year.  the housing industry seems to be getting hit with one bad news after another.  and the sad part is that there is no END in SIGHT.  I've had people tell me that the real estate market in michigan is Dead for ever, and this is coming from a 20 year economist.

Dow hit hard by a 150 Point decline (1.13%)  the nasdaq which is tech heavy is down almso 37 points or 1.43%.  the S and P 500 isnt fairing in to well either with a 20 point decrease (1.35%)  oil is on the fall after a small increase in the day.  all this after a report finds that confidence is at 2 year low.  the consumer confidence index fell to 105.0. 

Dow is down 60 points but still ramains over the 13 hundred mark, which is the best of the bad news.  nasdaq also down 16 points ( .62%)   the S & P is down 9.56 or .65%.  the railies of last week seem to be on the down slide again after investors were a bit cautious on monday morning. 

Homes on the Market have hit a 16 year high, as declining sales and growing problems helped push home prices down for 12 straight month.  sales by homeowners slipped down 0.2 percent.  number of homes for sale jumped 5.1 percent, there is a 9,6 month supply of homes for sale, which is currently up from 9.1-months in the june reading.  the measure is the biggest since october 1991.  economists are expecting more weakness in the upcoming reports which are due this fall

Dow Jones is down almost 14 points but still remains over the 13,000 mark.  nasdaq down 14 points.  oil up almost .35 (.49%).  Chairmen of The Federal Reserve, Ben bernanke seems to be looking at cuting Rates down some time next month.  Bernanke has stated that he would not be panicked into cutting interest rates, when the market gets mauled.  hopefully when the rates get cut the investors will start buying and pushing for a bullish market.  

 

New Century Financial Corp (newcq) has set the stage for all lenders.  Their stock has gone from an astonishing $43 to a Meir .08.  with trouble still at its door step one can only doubt their return back into the norm. why have the lenders put themselves in a situation that some of which can't come out of.  nearly 12 sub prime lenders have been put out of business. arn't these lenders suppose to have educated people that know what too much risk is, and when to take a risk.  I don't get how so many companies made so many mistakes.  you'd think that only a few would make mistakes so costly that they would extinct themselves from the business.   

 

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Every Tried Calling nextel, Sprint, Dell, Discover or any other company?  do you even remember when was the last time you talked to an AMERICAN customer service assistant?  how much more can we outsource?  our country defends outsourcing with cheaper products, but those people that lose their jobs to outsourcing don't have any money to buy cheaper products.  pretty soon we wont have any jobs in the U.S, but hey guess what we can all buy cheaper products with the money we don't make at the jobs we don't have.  but as long as china, India, and other countries have jobs, then we all can sleep with a peacefully

 

a recent report posted by cnn.com shows the hardest hit foreclosures in the country by zip code.  Detroit was 4th,5th,7th and 10th on the list.  I've heard many agents and experts all say that this year will be the year we get out of this market,  that was 2 years ago.  it seems that its only getting worse, when will the end come?