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
Back to slow. Capital flow was VERY light today at 82% so everything that follows isn’t terribly meaningful, but we’ll go down the road a little anyway.
Bulls and bears had a mini tug-o-war today. Premarkets were higher and it looked like dip-buying was to be thanked. Stocks sagged on the open and bounced around without clear direction. The tape printed slight gains in the afternoon and finished about flat when it was all said and done.
There wasn’t much movement and so there’s no meaningful answer to the why behind the what.
We’re left in the same spot as yesterday although the quiet nature of things just returned. Summer trading looks to be back on track. Who knows what kind of bolt-from-the-blue event could shake up things again but when it comes to anticipated catalysts, there aren’t any in the near term.
See you tomorrow,