Keeping stock and tomatoes

I'm having a difficult time concentrating on blog work this morning. After hearing that the European and Asian stock markets took a big hit in today's trading, I told Bill to plan to lose some money today. Bill won't be alone cuz I have my own stock portfolio, thanks to PERSI.

PERSI is the Idaho Public Employees Retirement System which sends me a paycheck every month. A few years ago the system did so well it rewarded all its members with some PERSI Choice stocks, based on our salaries. When I retired four years ago, I invested a portion of my early retirement bonus in PERSI Choice.

So, I've been an avid watcher of the stock market ever since. Just checked and the market is down 1.52 after showing a brief 10 green. After yesterday's 240 point tumble and knowing things aren't going so well on other world markets, I'm sure everyone who ever bought a share of stock is feeling a bit nervous today.

They say the problem comes from mortgage foreclosures made by lendees who didn't have good credentials for securing loans. Apparently, a number of loan companies gave these folks a chance, and now it's coming back to haunt them----and everyone who has stocks. NEWS FLASH: now it's up 7. It's times like this that Bill and I talk about how nice it will be to have a few tomatoes to sell at the end of the driveway if things get too dismal. At least, we don't have to pay any mortgage companies anymore.

In regard to the mortgage crisis, I wondered a couple of years ago if something like the dot.com debacle would occur when real estate was sky high and people who desperately wanted real estate but didn't have the bucks were resorting to some rather extreme creative financing to get their real estate. Seemed at the time that something was eventually going to give. Maybe we're seeing the beginnings of that.

I checked again; it's up 26. Maybe we're going to be okay. That would be especially nice for those of us small potatoes who have invested modestly but hope to see some financial success during our lifetimes. I'm sure that the Donald Trumps of the world just look at this as a little blip in the grand schemes of their financial empires, but for the little guys, the thought of losing gains and falling behind on hard-earned money gets a little scary.

It's headed back down again by 6 points. The stock market tends to reflect a lot about the way our world operates these days. Everything happens in milliseconds; five milliseconds later, who remembers any details? We're a reactionary world, it seems, mainly because everything happens so fast, we have no time to reflect on past events to help us make decisions about the future. So, we just react.

This morning's stock market zigzag seems to validate that point. People are moving fast with their buying and selling. I'm staying put cuz who knows what revelation might occur at noon today which could send the market to the stars. When the zigzagging quits and the zag just goes down, down, down for a while, maybe I'll reconsider my strategy.

For now, I'll just keep my stock, watch and hope for the best. Haven't had any pressing plans for spending that money right now anyway.

GO WALL STREET------up, that is. As I sign off, it's up 14. Maybe today won't be so bad after all, but I'm still going to water my tomatoes.