Stock prices, with the exception of tech stocks, rose again on institutional investor optimism that tax reform was moving closer to reality.  Now that the Senate passed a bill over the weekend, will be interesting to see how much more of a rally occurs in December.  Tech stocks, meanwhile, were mostly losers on profit-taking, as they had already rallied significantly.

A mixed week for our stocks – some long positions continued rising but many tech-related stocks were among those selling off on profit-taking.  Declines in most cases were not enough to trigger trades, so trades remain few this weekend, though most are long-to-short reversals.  Rising market also put some pressure on our shorts for the moment.

Institutional investors are expecting the Fed to raise interest rates this month, but this event seems far less significant on the overall stock market than broad tax reform being signed into law, which at this point looks promising.

Highlights:  4 new weekly highs in long positions.  8 stocks with double-digit long gains:

     FIVN +14%        HUN +23%       CECO +31%    URBN +45%      LPSN +56%      BZH +63%                                                                   

     PIR +12%           NCI +20%                                                                                  



1 new weekly low among short positions.  4 stocks with double-digit short gains:

                               EVH +22%         CECE +39%

                               EVTC +21%    

                               TRUE +21%