Transcript:
Tom Vaughan:
Hello, everybody, welcome to Wednesday. Great day for the market today: The S&P 500 was up .85%, today. The Dow was up 1.7%, the NASDAQ was up, the Russell 2000 index was up over a percent. Lots of green on the charts today very, very strong day actually really, really good day all together. And so what we’re looking for here is kind of a reversal of this little downturn that we’ve had: People coming in, buy the dip, and start to turn this back around.
We had one fairly good day that was up, but nothing like this; this is actually much better as far as that goes. And so that’s part of it, we look for strength in these recovery days. And then secondly, we look for follow through. So tomorrow, we had a very good day today; so tomorrow, if we could just at least kind of hold in there and have a small update, I think that would be great, etc.
The one thing that is out there that is interesting is that Friday is “Quadruple Witching Day, which just means that there’s four different types of options contracts that are expiring on Friday. And so that can cause some volatility for the market, which could get in the way of this potential recovery story, trying to see a third update as far as that goes. So tomorrow will be important, to see what’s going to happen. What happens on Friday may or may not be as important, just because we have this other outside influence, and we’ll have to see what happens next Monday.
But it was a really good day all together; and again, I always try to caution people. The news is still the same news that was happening when things were coming down, so there’s nothing like spectacular is turning things around: This is normal market motion. And again, we usually try to attach news to things that have happened positive or negative. And in this particular case, again, the market is still going up because it’s one of the better places to have your money in this environment, where interest rates are low and those types of things, and earnings are doing quite well.
…We’ll see if this is just a one day blip and tomorrow will be somewhat important as far as that goes. I suspect watching today, well it was very strong: Right off the gap and just kept going, and it was really, really fun to watch as far as that goes. So looking forward to seeing what’s gonna happen tomorrow. Thank you very much.