Hello, everyone, Welcome to Monday, for the seventh day in a row, the S&P 500 was up a little bit, it was up almost .3% today, which is not bad considering how long it’s been running, we are essentially through all of the resistance that we’ve been trying to work through for the price above. And we’re right at the all time high, that was set back in February. And now we’re going to face what I call kind of the psychological barrier. I’ve seen this a lot with individual stocks and different indexes, where when it gets to its all time high, you’ll see another set of churning that kind of comes.
Because again, you know, people bought at that price, or, hey, I’m going to get my money back or whatever it might be. And it’s a point of inflection. So in 2000, the market hit an all time high fell, took five years to come back. And right when it got back to the high, it fell again. And we ended up with kind of our, you know, bigger downturn for the financial crisis. And so we have to watch for that and see what’s going to happen here, most of the time, so when it does break through that high, which it might take a little while to do, but once it does, you kind of get a run. And it’s, there’s a saying FOMO: Fear of Missing Out, that happens in the stock market. And everybody’s going to start piling on board and what have you if it does break out? So this is a really interesting point, we’re right at that high, you know, do we end up kind of jumping through and really running are not, our stocks have not been our targeted indexes, for the most part have not been participating on Friday or today in this run.
I mean, one of the things that happened on Thursday, for example, the overall rate of return, according to my reporting software from Black Diamond, was 4.4% higher than the market itself. So after all expenses after everything, stocks, bonds, everything hundreds of millions of dollars in portfolio, and every time we seem to get over 4% the market seems pullback and that’s kind of my rubber band, you know, concept where it just gets stretched out too much. And then things kind of pull back. I’m comfortable with where we are the reopening stocks are making some runs something to watch for, but I’m looking at the weekly charts for what we have, and they look really good. So we’ll hang in there a little bit and see what happens as far as that goes. But that’s the story for today. So thank you for listening. I look forward to talking to you tomorrow.