I think this has been my worst ever week!
My total gains this week sit 1.8K when I started out about 2.7K. And that was after a big shrinkage. I’m not the only one. The whole market was suffering from this war in Iran and then there was a court case against Meta and Google that ruled against them. Apparently there are many other cases waiting and now there is a precedent there will be more coming.
Seems that Social Media is addicting. The court said that it was intentional and kids are being hurt. Meta is even lower than when I bought them! But with all the Mag 7 dropping, the whole S&P fell by a lot! Then there are the memory stocks that fell because Google announced that they had a way to reduce the need for memory, and so Micron and my Western Digital dropped.
Chevron and Exxon saved me though. With the oil crises, they are doing ok so far. You’d think they would be the ones to suffer! But rising gasoline prices seems to be bringing them up. The president seems to be going back and forth a lot, and the uncertainty is making all the stock market crazy. Then there was that thing that 15 minutes before he made an announcement, someone made some huge purchases of stocks and the price jumped when the announcement was made. Seems like they knew it was coming. Probably Jared Kushner.
The feeling is that people should take what they have and get out of the market. But I think there will be a turnaround and that it won’t be long. Sure, I wish the president would tell me what he’s going to do 15 minutes ahead of time! But that’s not likely. Guess I’m just stuck with what I see in my crystal ball!
What I plan to do
I don’t want to make rash decisions. I know it looks bad, and it probably is bad, but I am just not going to go crazy. I want to see if Meta drops even further and maybe buy a little more of them. There is still a half hour before the official opening of the Market and already things are looking up, but that often happens and then the bottom drops out around 10AM on most stocks. And it’s Friday which typically means that stocks drop before the weekend.
Maybe I’ll just throw a little more money into my SCHD ETF just to stay consistent. Even though they just readjusted their holdings, I think they are going to continue to do well. I’m not really happy with using ETFs but I think it’s probably safer at this time, and I am trying to stay diversified.
