Today’s weekly investing updates are a prime example of why you need to keep a level head. Bull markets are full of volatility and down market days aren’t a reason to jump ship, they’re good times to buy.
The Market Pulse & Stock News
On Wednesday the markets fell hard. You can read more here, but basically the sell-off was because people are worried about tech stocks after Tesla and Alphabet didn’t live up to high earnings expectations.
If Meta and Nvidia also miss their earnings, the markets will head into an overdue tech correction. This is why we don’t chase growth stocks.
Economic News
The Q2 GDP report was off the chain, but that good news was overshadowed by the panic about tech stocks.
Even though spending is up, there’s some trouble if you dig a little deeper. The lower-middle class is putting more money on credit cards vs using cash.
If things continue, that will lead to a credit card crisis. Delinquencies and bankruptcies would mean that credit card companies would have to eat those losses.
Here are Tim’s potential picks for next week. The list is very promising.
We believe any of the first 9 will give you decent price appreciation as well as a nifty dividend yield while you wait.
The only one that I’d probably avoid is ATLO as we can’t find a credible source to determine the P/E. To Tim’s eye it looks overvalued, so we’d avoid this. Other than that the list is tight yo.
OZKAP is a preferred of OZK which is a kick ass bank. Like we can’t believe that Tim found this one. 7% yield on a bank preferred and a good bank at that. YUM!
Portfolio Updates
#1 Sold 25 shares of USOI.
#2 Used USOI proceeds to pick up 98 shares of USOY. Just tinkering with this, it may provide more income. USOI yields around 20% and USOY yields around 80%.
#3 A stock that I have a limit buy order on for this week is OPRA. This international technology stock should provide 100-300% gains in the next 1-3 years. My limit was not hit, so I haven’t bought yet, but it will soon.
That’s all for this week. The mountains are calling me.
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