Transcript:
Tom Vaughan:
Hello, everybody, welcome to Thursday, the S&P 500 was down 1.2%. Today, basically taking back when it made yesterday, unfortunately. So it’s been kind of churning around here for a couple of days. One of the things that happens when the market has come down from a high like it did, you know, earlier on this year, is that you kind of get this point where you’re starting to run into resistance. So, you know, last year, for example, we had over almost 70 days where we hit an all time high. And so when you’re kind of up in that rarefied air, there’s no resistance above the share price. So for example, if they had a stock that was at $30, a share at its all time high, and a bunch of people bought it at $20, a share, and then it drops to 15. For example, when it gets back to 20, as it tries to recover and get back to 30. Again, a lot of people might take their money back, because hey, I bought it at 20, it lost money, I went down to 15, it wasn’t a great trade, I hope to get my money back and get back to 20. And then they sell out. And so that’s why you end up kind of really grinding to get back, if it’s going to come back, he usually doesn’t shoot right back because of that kind of overhead resistance. And so unfortunately, that’s where we’re at right now, because the market dropped, you know, 14.6%, from its very highest point to his lowest point here. In this particular downturn, we’re down about seven and a half percent 8%. Now, basically, you know, because we’ve recovered some of that, but it’s very difficult to come straight back. And so that’s kind of what’s happening here. We did have earnings today, for the most part, the earnings were pretty good, actually, from the big banks. And that’s not the main piece that we usually look at, at least in my opinion, I’m much more interested to see what happens with consumer behavior, are companies able to you know, maintain a profit margins in this inflationary environment and such so we still have a ways to go. This was also a holiday week.
So tomorrow is closed for the market for Good Friday. So the volume a little bit lighter today. And you can get all kinds of different swings when the volumes light. So we’ll see what happens next week. Let’s see what happens really, in a few weeks here, when we see the earnings reports come out from some of the companies that that I think are more important than what we saw today. But nonetheless, that’s what’s happening so far. We’re still hanging in there. Again, we’ve had that huge run up at the end of March, pull back about halfway back of that run up. That’s about right for you know where we should be, and we’ll see what happens going forward as far as that goes. So again, we’re having our show tomorrow we got a brand new Digital Studio will do my I’ll do my summary for the week for what I saw happening this week, also at the beginning of that show, so please join us if you’d like at 1215 Pacific time. We go till one o’clock. So look forward to seeing you then. Thank you very much