As near as I can tell, we are still at war with Iran.
Steady drop in the Market
Gasoline prices have gone up a dollar a gallon. With that the rest of the market is declining. Yesterday, the president said that he was going to give Iran 5 days to open the Strait of Hormuz, or else he would bomb their Nuclear Power Plants. Today he said he was going to hold off on that because Iran was going to talk about a ceasefire or something. No one in Iran says that these talks are happening, but the president said that it was happening. So, who do you believe?
With the announcement the price of oil dropped, and now stocks are starting to rise again, but I have my doubts that it will continue. My overall totals have dropped significantly since this whole thing began. Looking at a month view on almost everybody (at least the ones that I own) the charts show a very steady drop to the levels of today, though most show a small uptick at the end. Still nowhere close to what they need to be.
I don’t know if there is a safe haven here at all! I suppose that the Oil related stocks might see some uptick here since they are probably doing well out of this, but I think the president is scared of what he is doing to the market. He has a lot to lose there too. Nothing seems to be going right for him these days. As long as he keeps flip flopping around, it’s going to be a crazy ride.
So far today
Since I started writing this the Market has opened, and the early look showed everybody down. As things progress, (in 15 minutes) there are some that are coming back to life. Maybe people are out there trying to be a part of the climb now that the president is not talking about hitting the Iran Nuclear plants. It’s so hard to understand what is happening over there. The news keeps showing the same B role videos of explosions and stuff, and there are so many fake Facebook posts saying that the US is losing (I think those are coming from Iran), while we sit here wondering if any of it is really happening.
Today just doesn’t seem to be a good day for me to be involved. My last purchase was Kimbell Royalty Partners (an oil transport company) and it’s down but rising. Most of my tech stocks are falling. I think I’m just going to go back to bed and let things fall where they may. Hopefully this will all work out.
News about SMCI
With the problems they just had with the news that they were sending Nvidia chips to China in their boxes there has been quite the angst about that stock. The chairman had to step down and others who were involved are disappearing. They just can’t seem to get anything right! They try to be sneaky and that’s just not a good sign. Especially when they have what I think is the best box on the market for data centers. Oh well. Hopefully they will get back on track too.
Another thing to watch
SCHD is an ETF that I got into a while back when I was big on ETFs. They just did a rebalance, and they dropped some of my favorites. Cisco and AbbVie. They dropped some others too, but those are the ones I liked in there. They took on Blackrock which scares me because I’m not so sure they are going to do that well, but I guess they think so. Most of the others I don’t know much about.
The rebalance just took place so we’ll have to see how it works out. I’m still going to hang in there and purchase a little more each month or two and see what happens. Pretty much all the ETFs fell over the last week too, so there will have to be something happening there to get ETFs back in my good graces!
