This is not the time to think about deploying any cash in the market, trader Stephen Weiss said Friday. Stocks have struggled of late as the Iran war wages on, with the S & P 500 on pace for its first three-week losing streak in about a year. The conflict and Strait of Hormuz closure has led to a spike in oil prices . Traders looking to take advantage of the market drop may want to sit tight, warned Weiss, chief investment officer at Short Hills Capital Partners. “I’m keeping my cash. I don’t want to catch a falling knife. I don’t know how far it’s going to fall,” he said in on CNBC’s ” Halftime Report .” “This is not a trading market,” he added. “It’s prone to do stupid things.” His advice isn’t necessarily for those who have a long-term investment strategy. “If you’re long term, look, frankly anyplace you buy, if you buy the right stocks, they ‘ll be higher in a reasonable time frame,” he said. With the uncertainty around the war’s timing, it’s hard to make predictions on the market, added investor Kevin Simpson. If the conflict drags on, it can impact corporate earnings, he noted. “We’re looking at double-digit earning expectations for 2026. If this oil price stays higher, it affects not just the consumer, but margins, corporations and ultimately earnings,” said Simpson, founder and CEO of Capital Wealth Planning. “If this gets resolved over the next two weeks, we can put it in the rearview mirror,” he added.
