The major market indexes reflected a slight upward bias for the second week, although stock price movements were again rather modest. This despite the effects of hurricane Harvey and disappointing employment numbers on Friday.
Again not that much movement among our stocks, although much of it was at least in a productive direction. The few trades this week continue to be mostly short-to-long reversals.
Expecting institutional trading volume to increase now that fall is here, meaning a more dynamic market going forward (a good thing) – just not sure which general direction – will be interesting to see if institutional investor optimism continues through September, or whether a significant but historically common downturn takes place this month. And again, North Korea remains a big wildcard.
Highlights: 3 new weekly highs in long positions. 4 stocks with double-digit long gains:
BZH +19% LPSN +92% NEFF +136%
TRUE +12%
No new weekly lows among short positions. 1 stock with double-digit short gains:
EVH +32%