Welcome to August
Trade subsides as the major players head to the Hamptons. With earnings season winding down and summer vacations underway, lighter volume can exaggerate moves in individual names — and it pays to keep commitments small.
The level of premarket activity has subsided markedly this week, with the winding-down of earnings season and the onset of vacation season. Futures are mainly little changed this morning, as the major market players make their way to their vacation homes. We expect lighter volumes overall, which can result in exaggerated moves in individual names.
At times like this, it pays to keep commitments small, barring a major news event that creates outsized pricing leverage. The major themes remain oil and AI. Though oil is sliding this morning (WTI crude down about 2%), the ongoing trend throughout this latest leg of Iran tensions is up. The Kapnotes trading board remains ever alert for individual stock moves throughout the day.
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