Transcript:
Tom Vaughan:
Everybody, welcome to Thursday, the S&P 500 was down 1.6%. Today, starting at the end of last week had been calling for a pullback, thought it might start on Monday, didn’t start till Wednesday. And these are actually, in my opinion, a healthy part of a recovering market. At this point in time, as the market comes back down, you know, we’re either gonna go back down to some kind of new low, or we’ll hit some support level, which is a little bit below where we are. So we could go down a little bit further, maybe waffle around a little bit, and then start back up. And if we do start back up, we could end up with a really powerful leg upward, because I think that’s when the institutions would get involved. And so we’re looking at those two scenarios go back down or create a new all time high, I think the new all time high has a little bit more probability of happening only because there’s been so much momentum in this first move up, but very powerful, very, very impressive move all together. And I think that there’s some interest in US stocks as far as that goes. And, really, we have a lot of different things happening right now, China and Russia.
And you know, the inverted yield curve scenarios and all of the, you know, Federal Reserve moves inflation. And it’s just lots of different things going on here, including the pandemic, of course. And so yet the market still made this huge move upward. So I think a lot of that’s already counted in, more or less into this particular motion, probably take some other catalyst to get us to go down to a lower point, lots of potential catalysts out there. So we’ll have to wait and see what happens. But at the moment, we have to assume that we’re in a recovering market coming back up to an all time high, in my opinion, and that these particular pull backs are just dips, and they’re really kind of buying opportunities, as far as that goes, as far as I’m concerned. And again, unless you have a recession, you know, on the horizon, which I do not see personally, the market, you know, is usually a good buy on some of these dips, just because it tends to recover fairly quickly. If the economy is still there. We’re heading into earnings season, I think we’re going to see some good earnings. We’ve already seen some good earnings. I think that’s going to continue, and oftentimes that can drive the market up. Matter of fact, that would be my number one catalyst for getting this up into a new upward leg that eventually, you know, we see some good institutional support into so you know, we’ll see what happens watching this obviously, day by day. Look forward to seeing what’s going to happen tomorrow. I’ll talk to you then. Thank you.