Transcript
Well, hello, everybody, welcome to Wednesday. Today, unfortunately, the S&P 500 was down a little over 3.5%. It was a pretty big, you know gapped down at the beginning of the day, and it just didn’t come back. The good thing that happened for us today is that a majority of our targeted indexes did better than the S&P 500. And again, if we don’t have a lot of stocks, in the companies that need a stimulus that are, you know, concerned with the virus count going up, we don’t get hurt as much in these down days, which I think is very important. And we even had some up pieces with our long term treasuries, again, providing some parachute, which I was pretty excited about.
But let me talk just and show you a chart here and talk a little bit about kind of what I see happening. Here’s today, right, we’ve got this down day, we’ve had three down days in a row now. But if you really look at the big picture here, all we’ve done so far is basically go sideways, since you know the middle of the summer to now, and I mentioned this before, but if you look back at the last 10 elections, the average rate of return for the three months prior to the election is .8% on the S&P 500. And that’s essentially what we’re doing right here. We’re just going sideways, until we’re doing what we normally do. And I think that should help, you know, at least from a thought process.
The one big advantage, again, as I mentioned before, is that in those 10 elections, the average rate of return in the three months after the election for the S&P 500 was 4.8%. So again, not a bad thing as far as that goes. And what what I’m looking at here is I think this thing may come down a little bit, but it should find a lot of support, because it’s this price right here and hit spend some time there. It’s been some time here, here, here here. This is the number one price support on the for the last 12 months for the S&P 500.
So you know, we’ll see what happens as far as that goes. But I really think that this market is essentially going sideways. The reason it’s coming down right now is because the buyers are waiting till after the election and the sellers are looking at all these other things that are happening. And so but I think that’s going to be fine for us, especially the way we’re positioned in total. And so let’s take a look at what happens tomorrow, and I look forward to talking to you then. Thank you very much.