Year-end positioning and lackluster trading volumes
Year-end positioning and lackluster trading volumes: Sevens Report Editor, Tom Essaye, Quoted in Barron’s
Trump Is Already Rattling the Stock Market. Buckle Up.
Sevens Report President Tom Essaye believes year-end positioning and lackluster trading volumes—issues that will ease after New Year’s—are the real culprits behind the declines.
“None of these events are big enough to derail this market, but they are a near-constant reminder of the drama Trump can manufacture (either directly or indirectly) on seemingly mundane functions of the government,” Essaye wrote.
“Altering or reducing the H-1B visa program reflects a further isolationism that investors fear would hurt the U.S. tech industry in the long run,” Essaye wrote. “And while that fear is a bit of a stretch, amidst large tech outperformance and thin volumes into year-end, it’s creating another reason to book profits.”
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