Mike Zigmont, author of the Zigmont Report, is a partner at New York-based Harvest Volatility Management, a hedge fund with over $12B 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 and do not necessarily represent those of Harvest Volatility Management, LLC.
Asleep at the wheel. Equities opened down small, climbed to up small, fell to down small, and finally rallied to flat(ish) around the close. Ho-hum. Capital flow was light at 94%. The news today was trivial although the press is covering the US & Canada trade negotiations quite closely. The market doesn’t appear to give a hoot though so for the moment it’s merely something to keep the journalists busy.
The summer is now effectively over for the markets and the fall begins after the 3-day weekend. There’s no obvious reason to think the temperament of the market will change. Hopefully the volumes swell to normal levels but that’s not assured. Prior to the summer doldrums, the market had significant stretches of low activity as well. All that worked in favor of the bulls then so it’ll probably continue.
See you in September (on Tuesday),