Anniversary
Today is our wedding anniversary. So tonight, we will be going out to dinner. I’m looking forward to that. But I have to tell you, there is so much going on all around us that it’s very distracting from the excitement of this time. Sure, it’s also Halloween and no, we weren’t in costumes when we got married. But this is our special day. Something we never miss, but is also so hard because we just never know what to get each other! To be honest, there is nothing that I want. I’m a very satisfied person. I think she is the same way, at least she says she is. But still, this is a very special celebration for us.
Tech stock news
The last couple of days have been wild. On Thursday, Google dropped 50 dollars per share. That is the biggest drop I have ever seen on any of my stocks. Yesterday (Friday) they lost another 3 or 4 dollars, and AMD dropped about 60 dollars! What the heck is going on?
The whole tech market suffered. HPE was down, Intel was down, Invidia, Palantir, UMC, and Texas Instruments all fell right along with them. Western Digital was down 30 dollars. Even Apple which has remained on an upward slope through most of the downturn has dropped over 4 dollars! I heard someone say the Nasdaq was down further than it has been in decades. I don’t know if that’s true, but I am sure it is hurting!
Is it because everyone has lost faith in AI? Maybe it’s because they are changing the name to Super Intelligence? That’s probably it. They changed the name and now no one trusts it! It was amazing to watch though.
I know I lost a little bit. I did own all those stocks that I mentioned above, but no a significant amount of any of them, and I bought so early on that this drop didn’t put them below my cost basis. So that’s a good thing. That’s why I haven’t moved. I can’t really believe that Google and AMD will stay down for long. I might even buy a little more of them while the price is down. I don’t know yet. It’s Saturday and we’ll see if I can get in early enough on Monday before things happen too fast.
According to Yahoo Finance (my choice for information) the Nasdaq dropped 2.86% and the S&P500 dropped 1.82%. Makes me happy that I bought in on an equal weighted S&P ETF because the weighted ones probably tanked. I looked at VOO and it dropped about 12% and is actually under 700 dollars a share.
The Elections
I keep getting all kinds of ads on TV, as text messages, and emails about the election. I am fully prepared to do my voting on Tuesday coming up. I normally enjoy election day. I get to see neighbors that I usually only bump into at the polls or occasionally the grocery store. But it just seems so rife with strong feelings this year.
As far as I am concerned, no matter who wins, this is going to be some tough times ahead. Have things gotten so bad that they can’t be turned around? Let’s face it, it is pretty bad! I actually pity the people in government and the ones that will be becoming part of the government coming up. There are no easy answers. I guess I just have to trust the process. I don’t think I have a choice!
What the elections will do to the stock market is anyone’s guess. I hear a lot of people guessing and to be honest, no one seems to really know. Some talk about historically what has happened but other’s say that things are different this time.
But I am anxious for the day when people stop throwing darts at each other, and actually start to do something. I just want them to do their jobs and stop all this “positioning” stuff that we have seem.
We will see pretty soon if the stock market can hold on, and not go into crisis. I don’t think I’m going to do anything specific except maybe get a little more Google and AMD while they are on sale.
