The Zigmont Report (Daily Market Recap for 9/19/18)

Mike Zigmont

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.

Slow motion.  US equities did very little today.  Capital flow was surprisingly normal at 102%.  There weren’t any new developments on the trade/tariff front and the world was pretty unch’d with respect to financial issues.  It felt like investors were passing time.  The S&P traded higher over most of the session so maybe that’s a sign that the bulls have a slight advantage?

I wouldn’t put too much weight in that theory but I throw it out there because there is little else to discuss today.

Here are a few other things worth mentioning and then let’s call it a day.

  • Yields climbed across the curve again
  • Marijuana stocks are zooming higher (reminds me of the old dot-com action)
  • Crude rose above $70 again

What does it all mean?  Probably nothing.

See you tomorrow,