The Dow Jones industrial average opened today down 250 points. And the main reason for this was that the government said new home construction dropped, which was more than anyone had expected. They also said that this is the lowest since early 1991. No kidding, no one is able to get a loan to buy a home. And on top of that, if you’re a homeowner your home is own in value. Did they really expect any good news coming out of the housing market? And on top of everything else going wrong who really has any money left to buy a home with. With Wall Street losing about $2.4 trillion in shareholder wealth. The wild rollercoaster ride the Dow Jones industrial average has given us is unbelievable. I’m hoping for a good day on Wall Street today. I will take any dollar amount in the green. At this point for Wall Street, a plus day is a good day.

It looks as the U.S. Government is getting ready to buy into a few banks. They will be starting with $250 billion of the $700 billion. They funds will be to purchase the banks stock, not loans. This means when the banks stock goes up, we Americans will make money. I vote sell once we make 25 percent, can I do that. And when will I get my check? Wait, it’s the U.S. Government, I’ll never see a check. They will down the road just ask for more money when these companies’s get in trouble again. Or save it when it comes time to bail out the auto industry, because they’re next. Anyway, I think this is the best chance at us making our money back. Another thing to remember here, if these banks fail, we loose, or will we. It’s the U.S. Government; they’ll just print more money until it becomes useless, like their doing for this bailout. Let’s hope for the best, and let’s hope for another big day on Wall Street.

It seems that Republican John McCain is under fire for stating that he would fire SEC chairman Christopher Cox and create a special trust. I really don’t know much about Christopher Cox to have an opinion on this matter. Here’s what I do know, Christopher Cox, a Republican and former 17-year House member who has served on committees overseeing investor protection and U.S. capital markets. And President Bush also appointed him in 2005. I also think that John McCain needs to keep his mouth shut about things like this and maybe read some books instead. I do know for a fact that the SEC has looked the other way a lot and maybe Cox should be terminated. But let’s not talk about it in the news, it’s a personal issue.

Across the board today on Wall Street is down. Most investors including myself are still really worried about the economy. It does seem that things are starting to look a little better, but no where’s near what it once was. Now I know looking back isn’t always a good idea, but in this economy I feel like I need to. Looking back can make things hard for moving forward. And holding on to stock hoping it will go back to where it once was is not always good idea. But the only real reason why your stock may be down is because of fear. Fear has driven down the market, it really has. We once thought it was the rising cost of commodities, but as you can see there coming down. And the stock market is following, that makes no real since. Or does it, could it be fear still holding the markets down, I think so. The only way out of this is for investors to start buying again. We need to buy as much as we can to pull through this. And why not buy, everything is just about at it 52 week low. There are so many deals out there, but again, fear. Until we over come our fear nothing will change.

Well, another bad day on Wall Street. Which was mostly caused by the rising inflation and the weaker U.S. Dollar.  The price of oil per barrel went up $1.66 to end at $114.53.  And the U.S. Dollar got a little weaker compared to the Euro.  Although it’s been a rough start to this week I feel things will level out towards the end.  And hopefully the price of oil will get back in the habit of going down.  The recent drop of oil is already starting to show signs of it the pumps.  A gallon of gas was at $4.11 and is coming down to $3.73.  I feel that by years end the gallon of gas will be under $3.00, you’ll see.