Mike Zigmont, author of the Zigmont Report, is a partner at New York-based Harvest Volatility Management, a hedge fund with over $10B AUM, offering volatility management solutions to its investor base worldwide. Mike has been publishing his daily newsletter (Monday-Friday) privately for the firm’s investors and his personal contacts in the investment business since 2008, sending it daily shortly after the market close.
The opinions expressed below are my own
Half day, new high. US markets closed early today at 1 PM ET. Nothing happened during the abbreviated session although we printed new all-time highs in the S&P 500. Capital flow was extremely light at 80% – that’s adjusted for the shorter day by the way.
Tech led the way higher today and telecom lagged. Nothing too interesting about that.
Next week should be normal with respect to flows and news but unless the Senate messes up the tax reform passage (around Thursday), nothing will likely shake up the tape.
It feels like stocks are on rails again. We’re trying to glide into year-end and nobody is interested in stirring things up. Bulls gonna bull, bears gonna hide.
Have a great weekend, see you Monday.