Archive for Agosto, 2007
…shadows of ourselves
…see what we Are and used to bE, our gHosts and Dreams, what we have wAlked and the sand Marks we left behind like trails of time, we can see the hOrizon looking back at us and smiling knowing that we are Meant to be in a way that there is no angle in life aBle to top us down. While our shadows look back at us, we know we’ll be forever
…crude
A record high for crude oil and continued concerns about the health of financial stocks crushed a morning rally, extending the losses the stock market has seen since mid-July to about 6%.
Crude oil had its first close above $78 a barrel in New York today, and there was talk crude might hit $80 a barrel amid worries that domestic demand would outstrip supplies. Crude closed at $78.21, up $1.38. It was up 10.7% for July and is up 28% for the year.
At the same time, the market was startled when American Home Mortgage Investment (AHM, news, msgs), a big mortgage lender, said it was unable to borrow on its credit facilities and is struggling to raise money. The stock promptly lost 90% of its value to $1.10. The stock did not trade on Monday because of pending news. When it opened today, its value essentially vanished. The stock peaked in August 2005 at $39.84.
