The Gilmo Report

August 28, 2019

August 28, 2019

Extreme, news-driven volatility continues to dominate the action. Tweets from the President claiming the Chinese called and “want a deal,” counter-claims by the Chinese that no such calls took place, and ever-lower Treasury yields keep things swirling in what is essentially a very volatile price range that is now slightly more than three-weeks in duration.

The concrete technical catalyst for today’s bounce off the lows came in the form of the Dow bouncing off its 200-dma. Falling Treasury yields may also provide some impetus to the idea that the Fed will soon lower rates, perhaps even aggressively so. In any case, as things looked to get ugly this morning, it only brought about a visit from the Ugly Duckling.


The rest of this report is available for Gilmo Report Members only.
The full report will be available 45 days after it is posted. For immediate access: login or subscribe

Gil Morales & Company, LLC (“GMC”), 8033 Sunset Boulevard, Suite 830, Los Angeles, California, 90046. GMC is a Registered Investment Adviser. This information is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to GMC, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Gil Morales & Company, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2008-2019 Gil Morales & Company, LLC. All rights reserved.