Transcript
Everybody, welcome to Wednesday, I want to thank everybody who has come to the lunch with Tom, we did eight of them, we just finished the last one today for this year, kind of start them up again next year. Really fun, really enjoyed it. And I think everybody that did come to that, and look for notices of possibilities of joining us again next year. And so the S&P 500 was down today about 1.2%. It was sort of an interesting day, because it was hanging in there doing quite well up a little bit down a little bit, a lot like yesterday, actually kind of going sideways. And then it sold off right at the end of the day. And apparently it was a the same timeframe that they announced that the school districts in New York City were going to close.
Well, of course, Wall Street is, you know, the center of this universe in terms of the stock market. So they responded to that. It is the first time I’ve seen the market respond to the virus news, that’s obviously been picking up here. I’m not sure what that means, you know, honestly, because of the school district closing. So we’ll have to wait and see you know, what’s going on here as far as that goes. But the good thing for us, is that if you look at all of our broad indexes, and all of our target indexes that are in every one of our portfolios all together, wherever the risk is, whatever the strategy is, we have 35 of them. 31 of them did better than the S&P 500. Today, they didn’t all make money, but they did better than the S&P 500 today, which is really good. I love that.
Pretty much the same thing that happened yesterday, actually, too. And so as long as we just keep kind of overperforming, you know, we’ll be okay. If we take a look at kind of what happened today, you know, market wise, it’s kind of interesting. Here’s, you know, again, the S&P 500, as represented by Vanguard’s version of it, and we see, you know, we’ve kind of fallen back into this little range right here. I mentioned yesterday, it was quite important to hold this range, and we have broken through that. But one of the real problems is there’s just no volume up here, you know, the market hasn’t spent that much time here. And so there aren’t a lot of people that are willing to come back in and buy, the next level of any volume is right here, wouldn’t be surprised to see it kind of nibble around there, you can see that’s where this top was at some point in time. And so we’re watching for those support and resistance levels. And you know, at the moment, that’s not too bad, I’m okay with that. I really don’t see any real big issues happening here. You know, we’ve got zero interest rates.
And we’ve got an election that although it’s still not settled, is getting closer, I think a lot of the worst case scenarios there have kind of played out, there’s still some things to decide as far as that goes. But I think we’re okay, we’ve got, you know, good mixture between the technology or the future technology and the value orientation and the clean energy, very happy with that as the three legs of our stool, so to speak. And so I think things will, you know, kind of play their way out here. Expect some volatility, so we still have an election that’s, you know, still kind of playing his way out, we still have stimulus or no stimulus, you know, that’s gonna play its way out. We should have some rockiness here. But I wouldn’t expect to see any really, really big downturns or anything, you know, we’re ready if something does happen. But I would be surprised, and I would not be surprised to see it actually do quite well here. Continue to move up.
As far as that goes, you know, because the pieces are in place for that to happen on a historical basis. Anyway, we have had a phenomenal run in November. And so again, we’re kind of stretching that rubber band pretty far out. And you know, it’s bound to bounce back a little bit, hopefully, that stimulate some buying here at some point in time where people are coming in and get excited again. So let’s see what happens tomorrow. This is kind of an important week to see how much continuation we can get from this rally that we’ve had. So I will talk to you then. Thank you for listening.