CNNMoney.com Market Report - Aug. 16, 2007

The DOW took a huge hit today. For those of us who checking their net worth monthly, you are going to see the difference this month. This is the time to hold tight. It's the panic that causes people to sell. These things stabilize. It's the people who have their money invested and need it soon that I worry about.

Do you think this is a long term drop? Another Black Thursday? What are your thoughts?

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It had been going up so quickly, that I'm hoping this is just a market correction. I'm holding on.

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That's what I think too. Baby steps in the market are much more stable than giant leaps, as much as we would all like our stocks to take them.

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I think it will work its way out but I do worry about the people who panic. That seems to be the trigger when things go really wrong, panic that is.

Here is an interesting chart that I found that shows what has happened over the last month.

http://moneycentral.msn.com/investor...indu&CP=0&PT=3

They say it's because of the mortgage market fallout.

It does seem like a lot of houses are going into foreclosure. It's so sad. There are real people behind every one of these stories we hear on the news. How did it happen?

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I honestly don't know the first thing about the stock market, can someone explain in basic terms what the impact of this is?

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The market has up days and down days. I do not believe in impuslive selling and worked in a brokrage firm for 5 years. You just have to ride it out. I am sure my kids 539's will take a hit, but hey we have some time before college.

Holy Moly! .. It recovered at the within the last hour of closing.

I can't help wonder at all the people who bought when the stocks were on 'sale'. Historically, it's a great time to buy.

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Oh is it back up already??? Yeah!!

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We had a very nice day with the market! We don't hold many positions overnight so we bought a bunch near the low and sold off at the end of the day. We also buy stocks short so that has worked out several times this week. I love the stock market!