The Zigmont Report (Daily Market Recap for 8/2/17)

Mike Zigmont

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 shortly after the market close.

The opinions expressed below are my own

Slooooooooooooow.  Equities didn’t move much today although the flow was surprisingly elevated (105%).  Maybe the increased activity was due to the July ADP data (178k vs 190k est & 191k prior revised from 158k).  Maybe that steady-as-she-goes labor data unlocked some capital movement.  I’m totally spitballing.  Just trying to find something to discuss on a very dull day.

Summer doldrums are here.  Usually the rest of the year is volatile and so a quiet August is welcomed by all as a refreshing pause before the sprint into year-end.  This time around, the whole year has been quiet.  With August kicking off an even mellower phase of trading, there’s just nothing to say or do.

I’ll keep watching the tape of course but it’s as eventful as watching grass grow.

See you tomorrow,