See Snopes for the info about it at http://www.snopes.com/science/mars.asp
Actually, Moon will be in Capricorn and Mars will be Taurus on Aug 27, 2007.
The true event on the 27th this year is that Venus turns Retrograde in Virgo and will turn direct again September 8 in PDT in Leo. (She spends about three weeks in a sign.)
The hoax going around reads:
“On August 27, 2007 two Moons will rise in the
midnight sky, and the whole World will be waiting
for this once in many a lifetime spectacular event.
Starting in August, the planet Mars will be the
brightest object in the night sky. It will look as
large as a full Moon to the naked eye. This will culminate on August 27th, when Mars comes
within 34.65 million miles of Earth.
So, be sure to watch the sky on August 27th from midnight to 12:30AM. It will look like the
Earth has two Moons.
The next time Mars comes this much close will
be in the year 2287.”
