I’ve been under the weather
I haven’t been feeling well for several days now. I even went to the Urgent Care the other day and am under treatment. I can’t move around much, but I did watch the market a little and kept up. I didn’t make any changes though.
Since the beginning of September I lost about 1000 dollars, and while I got a bit of it back on Thursday, it dropped again on Friday. Funny, the Tech stocks seem to be doing the best. I thought that they were done the other day.
No more oil from Saudi Arabia
Attacks in Saudi Arabia by the Hoothis have forced Saudi Arabia to warn everyone that no more oil will leave there for at least a month. Hoothis are part of the Iranian proxy network so this is all pushed forward by the actions of the president.
This is going to drive gasoline prices up even more. This will be driving the inflation numbers up even as the FED raised the interest rates 25 points to try to bring it down. The rates went up and the stocks went down.
My question is what will inflation be in October when they determine the COLA for Social Security? Will it be even higher than they expect? Will it be worth it?
Still some optimism
People are still saying that they expect the S&P500 will be over 8000 come the end of the year. That’s a pretty good growth number and we’ll see if it comes true. I’m looking forward to a turn around. I’m not sure what my next move will be. I have been looking at an equal weighted S&P500 ETF because I know that the big techy stocks have been leading the weighted ones, but I think equal weight might be the way to go.
Some of those big ones may not have a lot of room to grow. But some of the others may get their chance to make a difference. I’m also looking at Munis still and Treasuries. I want to see what happens next month to see if the FED raised rates again. It’s possible, especially if gas and diesel keeps going up.
The problem with the gas going up is that almost everything these days are shipped. So everything is becoming more expensive.
My Plans
I am still not feeling well but it is a Saturday evening now and I can’t do anything anyway. So I will rest again tomorrow and see what happens on Monday!
