Transcript
Everybody, welcome to Friday, I thought it was going to have to wear the red shirt again today, because the market was down more than one and a half percent at one point in time. Interestingly enough, the shirts are the most commented piece of my video series so far, so, but the market did rally up, it really came back nicely at the end of the day, that’s super important heading into this three day weekend, I think hopefully, that people can absorb that and see the buying power that came in and see, you know, kind of this bottom that was created. And maybe we see some continuation next week, after everybody’s had some time, you know, to relax.
Apple was down a whole bunch and then ended up slightly for the day. So really good signs. The other pieces again, trying to give you some of the positives here, you know, of course, the mark is still in an uptrend 20-day, 50 and 200-day moving average are all still going up, the price closed above the 20-day moving average, those are all really good signs, we’ll watch to see how that changes. But one of the things I mentioned this before, and this is really important, especially when you have a big run up, you’re vulnerable to a fall because there’s really, you know, no purchasing happening of substance during that run up because it’s going so fast. And it’s all at all time highs. So there’s nobody you know, last year, something that bought at those prices. And but those falls can be super constructive.
When they come down. What it does is it’s like a bunch of people who feel like they’ve missed out and money managers especially will say, Hey, you know, that’s what happened today, I want to buy Apple, you know, I missed out on part of that run, I want to buy some more, or whatever it is I want to buy this particular stock. And so I think that’s, you know, a real big positive of these downturns is sort of like, just generate some interest. And all of a sudden, you get that run again, going. And that’s happened several times. I’ve actually talked about that several times in the past during this recovery. So at the moment, we kind of have to assume that’s what’s happening now we’re in an uptrend with a couple of days that have been down. And we’re going to continue that uptrend, you know, we’ll see what happens and, and if that doesn’t happen, you know, we got to mark out the past that it could go down and make sure we got portfolios for that and then take care of it. But so far, I don’t see any real real issues here so far.
You know, I think things are going to go We’ll have to watch you know, is there rotation out of tech into other things, you know what might happen? So, but overall, we’re gonna do an okay, we’re pretty far ahead of the market for the year so we’re still up there. Anyway, have a great holiday weekend and I really appreciate you watching these videos, and I will talk to you again on Tuesday.