Transcript
Everybody, welcome to Thursday, back from my little trip, the S&P 500 is up today, our portfolios have been doing really well, I was gone, outperforming the market as for the most part, very happy with everything that’s been happening, I was very hopeful that we would get to new all time high, I was also hopeful that we’d get some follow through and start to see some movement past that, which we’ve seen kind of traditionally, I will say that this time of the year, it there’s a seasonality that happens here at the end of August with a lot of vacations that are happening on these screens behind me, I have all these ticker symbols and every single trade that happens by the second it flashes.
And so I’m sitting here during the day, I can actually feel the energy of the market and see what’s going on, see all this stuff happening. And I you know, it’s been really slow, you can tell I mean, there’s not a lot of energy. So that might make it really hard for the market to just go taking off from here. You know, there’s also no stimulus program that was passed yet. So that’s not going to really excite things and make it move either. So but it is nice, we’re kind of floating along and still holding in there. And in our portfolios have done well. So that’s good, too. But one of the things I have to watch for here is kind of what happened in the last two big downturn.
So we hit a high in March of 2000, on the S&P 500 of 1552. Came down had the.com crash, all those types of things. And then we came back and we got all the way back to 1576. Just really a few points higher. And then we had the financial crisis of 2008. And so, you know, we’ve done that again, here, we come all the way back. And so we need to see some follow through. So that’s what I’m going to be watching for very closely. We don’t want to see another repeat where it just gets right back and then you know eventually starts to come back down.
There is a lot of selling pressure that happens when the money gets back to where it was because people start taking it off the table. Hey, I got my money back and it’s at an all time high. I’m going to take that out. This environment’s crazy. So we’ll see some probably more resistance here. But so far, I’m quite hopeful for what is going to happen here. And I look forward to seeing what’s going to happen tomorrow. And, I’ll talk to you then. Thank you very much.