The Gilmo Report

February 17, 2019

February 17, 2019

More trade hype from the Trump Administration on Friday as it hailed an agreement on an alleged Memorandum of Understanding between the U.S. and China on trade sent the market higher again. This time, the NASDAQ Composite Index finally cleared its 200-dma, thanks to a burst of late-day buying. It now joins the other two Big-Three major market indexes above its 200-dma.

Despite the strength, there was a noticeable absence of participation by several big-stock NASDAQ names. Apple (AAPL), Amazon.com (AMZN), Alphabet (GOOG), Facebook (FB), and Netflix (NFLX) all sold off on Friday as the NASDAQ 100 Index lagged noticeably.

 

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.