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The Gilmo Report

March 17, 2019

March 17, 2019
This market reminds me of late 1999 when stocks kept running straight up, defying gravity. In this market, however, there is no gravity, there is only QE. The flood of liquidity that remains in the system and which may be expanding again as central banks around the globe move to reverse their earlier gestures toward tightening continues to drive stocks ever higher. After a brief pullback... Read More

March 13, 2019

March 13, 2019
I wrote over the weekend that, “Friday’s action had the feel of a low-volume shakeout on the fifth day of a sell-off from the recent highs.” The action so far this week has confirmed that assessment. If there has been any wrinkle to the trading week it has been the fact that big-stock NASDAQ names have been surging, led by Apple (AAPL). The stock was upgraded... Read More

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The Marder Report

November 5, 2018

November 5, 2018
Special Announcement: Going forward, The Marder Report will be available twice weekly, on Wednesdays and Sundays by 6 p.m. PT, by subscription at www.marderreport.com . This service has been priced to be affordable for just about everyone, at about $41 per month with the quarterly discount. There will also be a premium version that includes: A... Read More

October 3, 2018

October 3, 2018
The big picture is a market rotating away from small-cap/mid-cap/growth and into large-cap/S&P 500/blue-chip stocks. The clearest signs of this divergence can be found in charts of the cumulative NYSE advance-decline line and the % of NYSE stocks above their 50- and 200-day moving averages. This rotation into lower-risk names is classic late-cycle behavior. It has been discussed numerous... Read More

September 4, 2018

September 4, 2018
Stocks remain in good shape, bolstered by strong earnings growth and still-low interest rates. The Nasdaq Composite and S&P 500 are just days off their all-time highs, while the advance’s breadth is solid. Leadership in the growth sector has been notable, with a few liquid glamours leading the way along with numerous more-speculative issues, including Tilray (TLRY), Bandwidth... Read More

August 13, 2018

August 13, 2018
Stock averages continue to hold their own as proceedings move through a normally slower season of vacations. While volume left a little something to be desired on the S&P 500’s latest move to a new high, turnover on the Nasdaq made up for that. ... Read More

July 18, 2018

July 18, 2018
The averages make progress as they put their brief June swoon behind them. Volume remains less than desired, especially at the level of the averages. For example, activity has actually diminished on all four S&P rallies since the Apr. 2 low. ... Read More

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