The Gilmo Report

January 21, 2018

January 21, 2018
All the media hand-wringing over a possible government shutdown didn’t affect the market as it just went about its business of making new highs. The NASDAQ Composite Index posted an all-time high on Friday, extending its upside run in 2018. In the process, it closed above 7300 for the first time in its history and exceeded its inflation-adjusted high of year 2000. Volume was lighter... [more]
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January 17, 2018

January 17, 2018
The rally finally ran into some selling yesterday when the indexes all reversed on much higher volume. The evaporation of a big gap-up open and ensuing rally that saw the Dow Jones Industrials Index briefly clear the 26,000 level was attributed to a possible government shutdown as Democrats refused to play ball with the Republicans and pass a stop-gap spending measure. Of... [more]

January 14, 2018

January 14, 2018
The market continues to display incredible upside thrust in the New Year as the major market averages as the NASDAQ Composite Index made another all-time high on Friday, along with most of its other major market brethren on volume that was a shade higher. So far, barring a courtesy pullback on Wednesday, there has been no stopping this market. On Friday, the NASDAQ also decisively... [more]

January 10, 2018

January 10, 2018
Reports of China curtailing its purchases of U.S. Treasuries triggered a sell-off in bond and stock futures overnight, which in turn sent the market gapping down slightly this morning. In the grand scheme of things, a 100-point decline in the Dow isn’t much to sneeze at given that a 1% decline would burn up 250 Dow points. A little sell-off like that might not look so pretty on its face, but isn’t... [more]

January 7, 2018

January 7, 2018
The market made it four-for-four in 2018, rallying strongly every day this week. On Thursday, the Dow Jones Industrials cleared the mythical 25,000 level, bringing out “Dow 25,000” hats on the floor of the NYSE. These days, however, the exchange is a ghost town compared to what I remember it as back in the day when I used to roam on the floor with our floor brokers at William O’Neil + Co.,... [more]

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