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Market is down down down…

Looking over the stock today (Sep 1 2009), I noticed a deeply disturbing trend. The entire market seems to retreating from the strong rally we have all so much enjoyed. The price of the stocks I follow fell by 5 -20% today alone. CitiGroup (C) fell by 9.2% to $4.54 which is a far drop from a few days ago when it was in the mid $5’s. Bank of America (BAC) fell to $16.46, a 6.42% drop in value. Freddie Mac (FRE) and Fannie Mae (FNM) both dropped by 17%, almost in harmony.  A-Power (APWR) fell another 2.68% and the rediculously overpriced AIG fell over 20% down to $36.00 flat.

September is generally a crappy month for investing, but heres to hoping it gets better.

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What’s with government owned stock volatility?

I have been following Citigroup (C), Freddie Mac (FRE), and Fannie Mae (FNM)  lately and it seems they are behaving very erratic.

Citigroup we all know has been a roller coaster ride for us all. A day traders dream for the brave and a scary white-knuckled ride for us long term folks.  Citigroup has been slowly but surely rising higher and higher. They peaked at $5 on the 24th and I got pretty excited but then it decided to drop back down to the mid $4’s. The housing market is supposedly doing better according to this weeks report and you would have thought that the financial’s would be bolstered by the good news.

Freddie Mac and Fannie Mae have jumped 40+% in the last couple of days. Any rhyme or reason? Nope….Will it continue to rise, I sure hope so but don’t see any real reason for it to any time soon.

I keep wanting to jump into the market and grab a few more stocks, but the volatility is so high that it is quite scary for a laymen investor like myself. If anybody out there knows what the secret is, I am happy to hear it! Otherwise, I will keep watching in wonder as stocks bounce around based on consumer whim.

This is one roller coaster that can make your wallet fall out.