Transcript
Hello, everybody, welcome to Wednesday, we had another update today’s it’s a third day in a row that we’ve been up on the S&P 500, it was up .5 or one half of 1% for the day. And it actually went to the top of the range that we’ve been in here for a few weeks and looked like it was trying to break out. And they ended up settling back down a little bit, that’s a really good sign, keep pushing on that top of that, if we can get above this resistance level that we’re kind of hitting into, it’ll become support. And that’ll give us two levels of support where we’ve been here for the last few weeks. And then the big one that we’ve been bouncing off of here for a while. So that’s, that’s a big deal.
It looks like it’s trying to do that as a whole. And we’re seeing even better rates of return out of our targeted indexes, for the most part. So for example, today, our innovative targeted index was up 2.4%, which is a lot more than the S&P. And this is focusing on companies that are innovative in the technology and electronic media area, they have to have high revenue growth, so they kind of have to prove that what they’re doing is working. And it’s companies like Zoom, and Shopify and DocuSign, and those types of things. And there are companies generally speaking, that are doing well in this environment also. And so that’s what’s really important about this environment, you have to be on the right side, and get into the companies that have continued to do well, especially if the virus does continue to grow, and especially if that virus has some impact on what’s happening in the economy.
What’s one thing that’s interesting is a lot of the businesses that are getting affected aren’t particularly the businesses that you’re investing in and these types of indexes. You’re mostly talking about really big companies. And so restaurants close doesn’t impact the stock market per se. What can impact the stock market over the longer term is the unemployment that that causes and then those people aren’t spending money at some of these other companies. So that’s what we have to watch for. And we’ll see what happens here. So anyway, that is where we’re at at the moment. I look forward to talking to you tomorrow and hopefully we can send ourselves off in the right direction before the holiday. All right. Thank you very much.