PATIENCE THE KEY

In the words of inspector Columbo, "Just one more thing…."

2023 is probably cued for another nasty leg down. You don't have to be a brilliant technical analyst or detective to understand the downward trend behind inspector Columbo. A return to the 3491.58 levels & toward 3400 on the SPX will create some additional panic selling and ultimately capitulation and base for the bear. Patience is key if you have gone cash or partially to cash. There will be much opportunity to dollar cost average back in... just wait.

(Above a monthly chart of the SPX showcasing the downward trend - ranging from March of '21 to December of 2022)

Interest rate hikes and difficult inflation has been at the forefront. Adding to the negative momentum global problems that we thought might have been in the rear view mirror by now, still loom. Terrible to say, Covid and the war in Ukraine are still with us and will continue present headline risk in my view. There's good a chance oil and gas prices will spike much higher despite the weakening world economies. Don't abandon those energy stocks just yet.

ENERGY NAMES: Oneoke (OKE), Kinder Morgan (KMI), Diamondback Energy (FANG)

W P Carey (WPC) and Vici Properties (VICI) have also sustained solid price levels during a very disastrous year. All the above names have provided dividends hovering around 5% or better.