I write too slow
Things change so fast during the day that it is a struggle to make any determinations about what is happening and get it down on this page. But the way things are going today is that it is devastating for all of my tech stocks. I checked a few that I don’t have as well, and it seems like they are all hurting. Dell, for instance, dropped 46 dollars as I am typing this. I don’t have them, thank goodness.
I do have AMD though and it was down 25 dollars earlier, but at this point it’s only 19 dollars. Here are my tech stocks:
txn Texas Instruments down 3.79
aapl Apple down .19
amd Advanced Micro Devices down 19.70
amzn Amazon down .40
bbai Big Bear AI up 8 cents
csco Cisco down 4.63
googl Google Up 1.75
hpe Hewlet Packard Enterprise down 4.48
intc Intel down 4.51
nvda Nvidia down 4.30
pltr Palintir down 2.02
umc United Microelectronics down .78
wdc Western Digital down 19.82
And they continue to change. In fact, there wasn’t any that weren’t down this morning and none of them were down less than 1.5% so many have come back up a little bit. Most of these are one the Nasdaq exchange and the whole exchange is down 117.00 which is a ton! Nasdaq is very tech heavy and so big changes there will drive the whole exchange down.
But it keeps changing, so it’s hard to keep up as I type. But watching it this morning was shocking! I expect some will come back a little bit, and probably tomorrow it will be the opposite as people buy the dip. Like Texas Instruments which was down almost 20 dollars this morning is back to just down 3.79. I checked a few others, like TSMC which is down almost 12 dollars, and ASML which was down over 40 dollars this morning when I started to type this, is now only down 11 dollars.
So, there is not much sense in watching the stocks prices during the day, but I am addicted to it.
Other things are changing. J&J was up 12 dollars this morning and is now down 15 cents. Some of my others are still up, but those I got excited about have become much less exciting. So, it just doesn’t make sense to watch the prices during the day because it can get very disappointing. Better to just check at the end of the day after the close. Volatility is the name of the game, I guess.
My oil stocks are all down today too. That’s Chevron, EPD, KRP, and Exxon/Mobile. Kimbell Royalty Partners (KRP) has come up a little, but not enough to make up for the others. I wonder if people are saying that the bubbles are bursting, and the day of reconning is here? I know that there are a lot of people panicking and dumping out on their stocks. But I am just holding fast for now.
Inflation, the War, and other stuff
Inflation came in a little bit higher than expected at 3.7%. That’s the number with the gas and food stripped out. It almost seems that we are going to have this around for some time even if the FED raised the rates again this month. Most people think they will wait till December. I’m not sure.
The president says that he won’t attack Iran until after the Midterm elections. He hopes that his Red Diesel tax will hold us over. Then he will get serious with Iran. The problem is that it has grown into a problem for Saudi Arabia with the Houthis in Yemen. They are now blocking Saudi oil so there could be more price hikes coming. I think that crude is now 105 dollars. That’s a mess over there. I have no idea how we are going to resolve it.
Our brave president is now blaming Ukraine for the high prices of diesel, and he is buying Russian Oil to give them more money to fund the war in Ukraine. Not only that but he is slowing the star shield system, so Ukraine can’t follow the drones as precisely as before and it is easier for Russia to attack. In other words, he has decided that he wants Russia to win. Then he’s going to demand a Nobel Peace Prize, but they won’t give it to him because Russia won, not Ukraine. That will make him stamp his feet.
Oh well, enough politics. I sure wish we had a real president.
See? I told you I write slow
I just hit publish on this blog page and found out that the Nasdaq which was down 111 dollars when I started is now up by 45 dollars. It’s just a totally crazy situation!
