The Gilmo Report

December 29, 2010

December 28, 2019

The NASDAQ Composite Index looked like it was ready TO celebrate the twelve days of Christmas on Friday as it embarked on another rally early in the day to build on its first-ever move above 9,000 on Thursday.  This would have made it twelve-straight up days in a row, but a late-day sell-off took the index back into the red on higher but still light volume.



One day certainly does not make or break a trend and given the extended state of the index and most leading stocks, a pullback is not unexpected. Meanwhile, the Dow posted a new high on Friday while the S&P 500 posted a new closing high. Thus, the uptrend remains intact, but as I wrote in my last report, investors should remain alert as this market has a habit of pulling the rug out on things just when all is rosy.

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.