Transcript
Everybody, welcome to Monday, really crazy day today on the market. And overnight, we saw a big move in the futures market, I think probably because of some, you know, relief about the election. And then in the morning, there was an announcement from Pfizer and BioNTech, that the vaccines were going really well, which is really good news: 90% success rate. Well, the market really, really took off on that news.
But it was very fascinating to see what happened all together. Because all of the at-home stocks, and technology stocks and whatnot, including Zoom, like we’re using, you know, to compete with is, they all sold off today. So it was like this assumption that once the vaccine comes, you know, all of this work at home, things are going to stop completely, including pet care, which is kind of amazing. So essentially, you know, we’re not gonna take care of our pets anymore, once we get back to the office, or what have you that we’ve all adopted during this pandemic. And what took off was, you know, cruise lines, and airlines and all of the those types of things, which makes sense, they’ve been held down for a long time. But the markets theme for the day was that, hey, you know, all of the things that we’ve been building up so far are going to completely disappear. Once the, you know, vaccine comes out, and we’re all going to jump on airlines and cruise lines or what have you.
I actually don’t agree with that theme as a whole. I think there’s gonna be a lot of people that don’t take the vaccine, there’s going to be some time that it takes to get it out, and all of these things that have to come through. And I also believe that some of the pieces that have happened here during this pandemic are going to persist some of the work at home pieces, some of the videoconferencing pieces, et cetera. So, having said that, the market does not care what I think. And that’s important for me to always remember. And so we will be watching this very closely.
But one nice piece that I think really worked out here, too, is that clean energy still did quite well, that seems to still fit into both scenarios, apparently. And so that’s great. But this is going to be really, really fascinating to see how this plays out. I do think the market got a little bit ahead of itself today. I wouldn’t be surprised to see some of those things pull back a bit. But you know, let’s see what happens tomorrow. I’m really interested to see how this plays out. Very fascinating timeframe.
We hit an all time high on the S&P 500. Today, there is no resistance above where we are now, only support. And I talked about that before that could be very powerful. We could have some really good returns here all together. Alright, let’s see what happens tomorrow. Look forward to talking to you then. Thank you very much.