The Gilmo Report

February 14, 2021

February 13, 2021 4:15 pm ET

The market shows that it is still able to take a licking and keep on ticking as the indexes shrugged off some selling pressure earlier in the week and marched higher. The NASDAQ Composite Index posted an all-time closing high on Friday while the S&P 500 pushed to fresh all-time highs, all on lighter volume.

 

 

The crazy FOMO action in cannabis stocks earlier in the week got rubbed out quickly. Canopy Growth (CGC) looks bad enough on a sharp break off a climactic near-term peak, but Tilray (TLRY) is absolutely absurd. A more than 100% move in two days evaporated just as fast, illustrating the crazy FOMO action that can suddenly take hold in a particular group of stocks as the Reddit-Retail investing crowd mindlessly piles in.

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. ©2008-2020 Gil Morales & Company, LLC. All rights reserved.

Post navigation