June 4, 2023 – Important Announcement from Gil Morales

The following letter was emailed to members on May 31st. In order to ensure that all members are aware of this I am repeating it here. Dear Members: As I have mentioned several times over the past few months the time to strike out with new ideas and new paradigms for my market content and commentary was fast approaching. Today, May 31, 2023, I am commencing the process of shutting... Read More

June 4, 2023

The short trading week ended with a jobs fair of sorts, featuring the ADP Employment report on Thursday and the headline Bureau of Labor Statistics jobs report on Friday. The ADP report came in hot at 278,000 new jobs vs. expectations of 160,000. At the same time, Fedheads lurking about on the speaking circuit that morning began to float the idea of a Fed skip. ... Read More[am4show guest_error='Subscription... Read More

May 31, 2023

Artificial Intelligence meme-stock mania has remained the order of the day, at least to start out this short trading week. Comments on Friday afternoon from Nvidia’s (NVDA) CEO as he admonished businesses to either get on board the AI train or be left behind triggered another gap-up open yesterday as the AI meme-them... Read More

May 28, 2023

Theories about what is or is not driving the market at any given time can only be theories. They can be utilized on a practical level to lead us in the right direction, and in some cases to develop conviction, long or short, but it absolutely must be recognized that theories evolve and shift in real-time. A market such as we have today is so bizarre and unusual that any and all theories... Read More

May 24, 2023

Artificial intelligence meme-theme mania has shifted to debt-ceiling dementia and taken the bid out of this market so far this week. Some of the more vulnerable AI-meme names that I discussed over the weekend have proven to be useful short-sale targets, such as Cloudflare (NET). The company announced that its products help... Read More

May 21, 2023

Artificial intelligence meme-madness continued to run its course as we headed into the end of the trading week. The AI meme-theme has certainly been one that can be traded, long as well as short, as we have discovered with our favorite AI meme-stock C3.Ai (AI), which has the meme as its stock symbol. That has been tradeable... Read More

May 17, 2023

I have seen the market display some stark divergences in my day, but what we have seen recently is quite a sight to see. Money piles into long-term, established, reliable, big-cap NASDAQ 100 juggernauts not as a growth trade, to be sure, but as a type of lifeboat trade as most everything else heads lower. As I noted over the weekend, this is embodied by the NASDAQ Advance-Decline... Read More

May 14, 2023

A tepid response to what looked like a favorable Producer Price Index on Thursday was the first tip-off that the market was perhaps losing upside momentum. Not that it wasn’t doing so already, based on the broadly weak underlying action in individual stocks for many weeks now and the current narrowing breadth as buyers pile into big-stock NASDAQ names and high-PE techs. ... Read More[am4show guest_error='Subscription... Read More

May 10, 2023

The Consumer Price Index released this morning held few surprises aside from a slightly lighter-than-expected year-over-year 4.9% increase vs. estimates of 5.0%. Monthly increases met expectations at 0.4% on the core number, but the market immediately grasped onto the annual number as a reason to jack higher. The rally lasted all of ten minutes before the market boat and all its bullish passengers... Read More

May 7, 2023

The monthly Bureau of Labor Statistics jobs reports has been a widely-anticipated, market moving main ring event ever since the Fed embarked on its record interest rate raising run in early 2022. Amid the current wave of headline-making regional banking distress, however, it was little more than a sideshow. ... Read More
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