Transcript
Everybody Welcome to Tuesday finally had an S&P down day seven days in a row up. And today down .8%. very classic, actually, we got within one half of 1% to the all time high and then sold off. Pretty much what I was talking about yesterday with that psychological barrier, very, very common, we’re gonna have a lot of volatility trying to get through that, we do have to watch because we want to make sure we don’t end up going, you know, down. And that’s something that it’s sort of an inflection point right now to watch for, that I talked about yesterday. And so unfortunately for us, the tech stocks sold off even more, so we’re gonna see, you know, a little bit more damage to the portfolio’s we have. Let me talk about that.
I mean, if I had a client ask me yesterday, hey, when the market was up the S&P 500 and Dow, and why were we down? Well, basically, you know, my overall philosophy is that you’ve got, you know, these nine bases to cover on a baseball field, you make some small shifts, with these targeted indexes. Well, this particular environment is is caused me to shift even farther, basically, there’s nobody on third base and nobody in left field. And so when that ball goes down the line there, we’re gonna miss that ball in this environment. And those down the line stocks are these reopening stocks. And I really don’t want to get into the airlines and, and the energy companies and the cruise lines, and the restaurants and all these things that are going to require a vaccine or a cure, we’ll see what happens, we can broaden that we can cover all the bases, I just want to give it some time, it’s only been three days so far, this is actually the third or fourth tech sell off. And sometimes you need it, you need to see those things come down and get down to certain level. And people say, Okay, I’ll take it.
And right now we’ve got plenty of support on the overall market we have built for support levels in this recovery. So I feel fairly comfortable about that. Another question that came up was, Hey, I love the positivity of these. And but will you tell us if things are really going to be bad and going to go south? First thing, I’ll make adjustments to the portfolio if I need to, I’m not a day trader. So I got to see weekly data that comes through, I do things slowly in that regard. And that’s worked out really well. And we’ve been able to avoid some of them, you know, getting out when we should.
So and I’ll announce that in these videos. As far as that goes to I do like to keep it positive. I spend two to four hours a day reading articles, I’d say 90% of them are negative, everybody knows the negative, not that many people know the positive. So that’s why I do emphasize that just to kind of create a balance. And so I want to thank you very much for listening today and I look forward to talking to you tomorrow.